INSIGHTS Plymouth, Minnesota Written by: Michael Stein and Pat Saari
PLYMOUTH AT A GLANCE
Plymouth became a city in just 1974. Today it is booming with activity and residential development. Through September 2019, Plymouth trails only Lakeville and Woodbury in terms of residential permits for the Minneapolis/St. Paul metropolitan area for the year*. While Plymouth’s 2040 Comprehensive Plan has not yet been finalized with the Metropolitan Council, infrastructure improvements in northwest Plymouth will be key objectives for the future.
By 2020, Plymouth will be home to just shy of 80,000 people, making it the 5th largest city by population in the Twin Cities. Today, it is home to over 2,300 businesses and 60,000 jobs*. Plymouth also has the lowest property tax rate in Hennepin County among cities with more than 45,000 residents, making it a very attractive place for businesses and families alike.
This western suburb of the Twin Cities maintains a strong manufacturing and wholesale trade presence. Combined with a growing professional and technical services presence, 14 facilities are located within Plymouth, which serves a these three industries made up nearly 40% of all jobs within majority of the western and southern areas of the city. The Plymouth in 2018. Most jobs and overall traffic are heavily Robbinsdale School district has a large presence in eastern concentrated in the southern portion of Plymouth near Plymouth. Lastly, northeast and southeast Plymouth are or along the Interstate 494 & Highway 55 interchange. served by Osseo Public Schools and Hopkins Public Schools, Approximately 108,000 vehicles per day pass through respectively. In total, Plymouth is home to 17 schools (early south Plymouth on I-494, just north of the I-394 & I-494 learning through high school). interchange. Plymouth is less than 10 miles from downtown After much deliberation and feedback from the community Minneapolis. since 2018, the Plymouth City Center is close to finalizing Plymouth Metrolink, the city-operated bus system, provides plans to renovate and expand the community center a half million rides annually. Plymouth is conducting originally built in 1999. Most recently, plans have shown various other transit studies both internally and with the various indoor athletic areas, senior spaces, and space Metropolitan Council to best serve its growing population. dedicated to the arts. The preliminary cost of the project is $50 million. There are four different public-school districts with a presence in Plymouth. All but one of Wayzata Public Schools’
*Sources: Keystone Report, City of Plymouth Page 1
33 South 6th Street, Suite 4650, Minneapolis, MN 55402 | Phone: 612.338.4000 | davishre.com INSIGHTS Plymouth, Minnesota Written by: Michael Stein and Pat Saari
EMPLOYMENT IN PLYMOUTH
Top Employers Number of Employees Type
Prudential Financial 3,000 Financial services
Zayo Group 2,000 Technical services
Wayzata Public Schools 1,235 Education
Medtronic 1,001 Manufacturing
TCF Bank 1,000 Banking
Aimia 1,000 Consulting services
Meritain Health 600 Insurance
Minnesota Rubber & Plastics 500 Manufacturing
US Foods 500 Distribution
Miracle-Ear Inc 450 Healthcare
*Source: City of Plymouth Page 2
33 South 6th Street, Suite 4650, Minneapolis, MN 55402 | Phone: 612.338.4000 | davishre.com INSIGHTS Plymouth, Minnesota Written by: Michael Stein and Pat Saari
FORECASTED DEMOGRAPHICS
Plymouth Population Growth 2000 – 2040
90,000 Following a nearly 30% decade of growth from 1990-2000, Plymouth will remain one of the 80,000 highest populated cities in both Hennepin County 70,000 and Minnesota. In 2010, there were nearly 70,600 60,000 people in Plymouth. This number is expected Population 50,000 to increase by over 20% through 2040 to 85,100 40,000 residents. Plymouth’s population is expected to 2000 2010 2020 2030 2040 grow at a moderate pace through 2040. ear
Source: Metropolitan Council
Plymouth and County Population Growth 2000 – 2040
Within Hennepin County, Plymouth accounts for 2,000,000 1,500,000 just over 6% of the total population. That figure is 1,000,000 expected to hold steady through 2040. Hennepin 750,000 County’s growth will slightly outpace that of 500,000 Plymouth, with the city expecting an average of Population 250,000 6.5% growth per decade through 2040. 0 2000 2010 2020 2030 2040 ear
Plymouth Hennepin County Total
Source: Metropolitan Council
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33 South 6th Street, Suite 4650, Minneapolis, MN 55402 | Phone: 612.338.4000 | davishre.com INSIGHTS Plymouth, Minnesota Written by: Michael Stein and Pat Saari
FORECASTED DEMOGRAPHICS
Plymouth/County/Regional Expected Population Growth by % 2000 – 2040
As shown to the right, Plymouth and Hennepin County 12% 10% are expected to grow at a similar pace over the coming 8% decades. Both areas will lag that of the seven-county 6% regional area, which will see growth in other less- 4% developed counties. Carver County will lead the way 2% for regional growth with a nearly 50% increase in 0% population from 2020-2040. 2010 2020 2030 2040 ear
Plymouth Growth Hennepin County Growth Regional Growth
Source: Metropolitan Council
Plymouth/County/Regional Expected Employment Growth by % 2010 – 2040
Plymouth, Hennepin County, and the Twin Cities 20% metro area will all see similar employment growth 15% through 2040. Plymouth will slightly outpace the 10% other two areas, with the region growing at a faster 5% rate than Hennepin County. The employment growth rate for Plymouth is expected to average just over 0% 2020 2030 2040 10% per decade from 2020-2040. ear
Plymouth Growth Hennepin County Growth Regional Growth
Source: Metropolitan Council Page 4
33 South 6th Street, Suite 4650, Minneapolis, MN 55402 | Phone: 612.338.4000 | davishre.com INSIGHTS Plymouth, Minnesota Written by: Michael Stein and Pat Saari
The table below provides a summary of the expected change in population and employment for Plymouth, Hennepin County and the Twin Cities Metropolitan Region.
Area Population Employment
2000 2010 2020 2030 2040 2010 2020 2030 2040
Plymouth 65,894 70,576 77,200 81,400 85,100 46,227 53,900 57,700 61,500
Hennepin County 1,116,206 1,152,425 1,264,930 1,341,940 1,419,700 805,463 929,760 991,490 1,048,870 Total
Twin Cities 2,642,062 2,849,567 3,160,000 3,459,000 3,738,000 1,544,613 1,828,000 1,910,000 2,039,000 Regional Total
Plymouth % of 5.9% 6.1% 6.1% 6.1% 6.0% 5.7% 5.8% 5.8% 5.9% Hennepin County
Plymouth Growth 29.5% 7.1% 9.4% 5.4% 4.5% -13.6% 16.6% 7.1% 6.6%
Hennepin County 8.1% 3.2% 9.8% 6.1% 5.8% -8.2% 15.4% 6.6% 5.8% growth
Hennepin County 42.2% 40.4% 40.0% 38.8% 38.0% 52.1% 50.9% 51.9% 51.4% % of region
Twin Cities 15.4% 7.9% 10.9% 9.5% 8.1% -3.9% 18.3% 4.5% 6.8% Regional Total
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33 South 6th Street, Suite 4650, Minneapolis, MN 55402 | Phone: 612.338.4000 | davishre.com INSIGHTS Plymouth, Minnesota Written by: Michael Stein and Pat Saari
HEALTHCARE IN PLYMOUTH
Primary care providers, medical development, and medical office buildings (MOBs)
# Property Name Status Building SF Total Avail SF Large Tenants
1 West Health I Existing 104,000 – Allina
2 West Health II Existing 77,600 – Allina
3 Park Nicollet Existing 60,000 – Park Nicollet
4 City Center Professional Building Existing 50,000 5,927 MNGI Digestive Health
5 Plymouth City Center Medical Existing 50,000 11,778 Voyage Healthcare
Expansion Under 6 Plymouth Medical Building 29,000 20,000 Fresenius Kidney Care Construction
Minnesota Maxillofacial & 7 City Center II Existing 28,632 4,189 Oral Consultants
8 15535 34th Avenue N Existing 17,379 – North Memorial
416,611 41,894
3 4.4 City Center Professional 5.5 7.7 City Center II
8 15535 34th Avenue 1 6 2 Plymouth Medical
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33 South 6th Street, Suite 4650, Minneapolis, MN 55402 | Phone: 612.338.4000 | davishre.com INSIGHTS Plymouth, Minnesota Written by: Michael Stein and Pat Saari
OTHER SIGNIFICANT DEVELOPMENT(S)
12
13 24 26 34 33 9 10 5 16 3 17 27 6
20 22
7 11 19 2 32 28 21
29 14 1 15
30 23
8
4 18
31 25
LEGEND Other Mixed
Office Retail Residential
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33 South 6th Street, Suite 4650, Minneapolis, MN 55402 | Phone: 612.338.4000 | davishre.com INSIGHTS Plymouth, Minnesota Written by: Michael Stein and Pat Saari
OTHER SIGNIFICANT DEVELOPMENT(S) – DETAIL
1. A new, 130-unit senior housing development with some 13. The second phase of the Greenway West development affordable units will replace the existing office building at will include 15 single-family lots. The initial phase saw 3025 Harbor Ln N. the development of 52 single-family lots.
2. A new Starbucks coffee shop will replace the existing BP 14. The existing Holiday Inn Express has plans to renovate gas station off Rockford Rd & Annapolis Ln N. and expand the existing hotel.
3. The third phase and final 25 single-family lots will 15. A new 102-unit Home2 Suites by Hilton hotel was conclude the 138-lot Aspen Hollow development. completed in June 2018.
4. Banner Engineering completed their new, $15 million 16. The North Woods Elementary School opened this year engineering center in 2018. just in time for the 2019-2020 school year.
5. Camelot 9, the residential redevelopment at the former 17. The Reserve residential project will include 12 single- Begin Oaks Golf Course, is under construction on the final family lots. phase of the 175-unit development. 18. Starbucks recently occupied a new standalone retail 6. The fourth and final addition to the Creekside Hills building off Hwy 55. development will add 41 single-family lots. The development site will include 142 single-family lots in 19. The final phase and remaining 45 single-family homes total. at the Summers Edge residential development is now under construction. 7. The 6-acre development site named Creekside Woods will include 11 single-family lots. 20. The 18-acre subdivision of the Timbers Edge has now received approval to develop 40 single-family lots after 8. CVS Pharmacy recently finished a redevelopment project having multiple large proposals rejected. that is now the site of a new 9,000 square foot pharmacy. 21. The construction for an approximately 11,000 square 9. The Enclave at Elm Creek second addition will include 23 foot retail building is scheduled named Vicksburg Square single-family lots. Retail Center.
10. The third phase and final 20 single-family lots will 22. The second and final phase of the Villas at Copper conclude the 128-lot Enclave on the Greenway development will include 28 single-family lots. development. 23. Wagner SprayTech opened their expanded and 11. A redevelopment at the site of the existing Four Seasons renovated $10 million building in Summer 2018. Mall has been proposed. The most recent plan includes 163 units of affordable housing, 255 senior apartments, 24. The Waterwalk Hotel Corporate Lodging project will be retail uses, and a Plymouth Metrolink Park and Ride two four-story corporate lodging buildings totaling 153 station. total units. The project is expected to break ground in 2020. 12. The Greenway North development will be done in multiple phases and will include 101 townhomes 25. Wayzata East Middle School is constructing a 5,500 and 21 single-family lots. square foot addition to the school.
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33 South 6th Street, Suite 4650, Minneapolis, MN 55402 | Phone: 612.338.4000 | davishre.com INSIGHTS Plymouth, Minnesota Written by: Michael Stein and Pat Saari
26. Westin Ridge is a proposed residential development to include 122 single-family lots on a a 27-acre parcel of land.
27. The Woods at Taylor Creek residential development includes 24 single-family lots.
28. Roers Cos has submitted plans to develop 34 townhomes at the northwest quadrant of Medina Rd & Hwy 101.
29. Hy-Vee opened its first Plymouth location in late 2018 at the former Cub Foods on CR 24.
30. The Plymouth City Council is considering a 44,000 square foot early learning center at Oakwood Elementary School proposed by Wayzata Public Schools.
31. The Wayzata Central Middle School has started a $13.5 million renovation of the existing location at 305 Vicksburg Ln N. The project is aimed at addressing future growth.
32. The three-phrase project to replace the Rockford Rd & I-494 interchange is soon expected to wrap up.
33. Medivators Medical has plans to consolidate 600 employees into the former Sleep Number headquarters.
34. Phillips Healthcare purchased the former Boston Scientific building at 5905 Nathan Ln N in 2019. The facility will house 200 employees with space to add more in the future.
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33 South 6th Street, Suite 4650, Minneapolis, MN 55402 | Phone: 612.338.4000 | davishre.com INSIGHTS Plymouth, Minnesota Written by: Michael Stein and Pat Saari
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