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Lakeville pausing new home construction for 1-year
The Lakeville City Council passed a one-year moratorium on applications for new home construction, though it has several exemptions. FOX 9's Bill Keller reports.
LAKEVILLE, Minn. (FOX 9) - The Lakeville City Council unanimously approved a one-year moratorium on new home construction Monday night, citing the need to study how future growth will impact the community.
Lakeville pausing new home construction
The backstory:
Lakeville is hitting pause on building new homes, with city leaders saying they need time to plan for the city’s rapid growth and its impact on schools and families.
The Lakeville City Council voted unanimously Monday night to stop accepting applications for new home construction for the next year. The move comes as the city, which has about 80,000 residents and a median age of just under 38, continues to attract young families.
City officials say the pause will give them time to evaluate how the Metropolitan Council’s Imaging 2050 regional development plan could affect Lakeville’s own long-term comprehensive. Plan.
The moratorium does include several exemptions, including the more than 600 town home units that have already received approval and will still move forward. City leaders note there is already a significant pipeline of housing in place.
What they're saying:
"I don't want to minimize what we're doing tonight. But the reality is when you've got enough projects for three years’ worth of housing construction already approved, this really is a minor administrative change," said council member Dan Wolter.
A search of Zillow's website shows there doesn’t appear to be a shortage of inventory, with nearly 250 listings for new construction. But with new home prices ranging from around $350,000 to over $1 million, some worry a freeze on new construction would make buying a home that much more difficult.
"By limiting new housing, the city risks increasing property tax pressure on existing homeowners. When the cost of homeownership and living is already so high," one resident said during public comment.
Studies routinely show that home prices are primarily driven by a severe shortage of homes.
Dig deeper:
The decision comes just months after the Lakeville School Board approved district boundaries for the second time in two years. In January, the board changed where around 12% of elementary school students will attend classes starting this fall.
The mayor says the city is already set to meet with the Lakeville School Board to discuss what the city's growth will mean for enrollment.
The Source: This story uses information from the Lakeville City Council meeting and FOX 9's Bill Keller reporting.