HomeMy WebLinkAboutHeritage Preservation - 11/21/2022AGENDA
EDEN PRAIRIE HERITAGE PRESERVATION COMMISSION
MONDAY NOVEMBER 21, 2022 7:00 P.M. Heritage Rooms – City Hall
HPC COMMISSION MEMBERS: Rod Fisher-Chair; Paul Thorp-Vice Chair, George Maxwell,
Robert Bowes, Steven Schumacher, Andrew Scipioni, Andy
Ludowese
STUDENT MEMBERS: Avik Garg, Sophie Lunda, Mary Margaret Mellen, Ilhaam
Mohamed, Jash Parekh, Suweda Said, Siri Tangeti
COMMISSION STAFF: Beth Novak-Krebs, Staff Liaison
Kristin Harley, Recording Secretary
I. CALL TO ORDER / ROLL CALL
II. READING OF LAND ACKNOWLEDGEMENT STATEMENT
III. APPROVAL OF AGENDA
IV. APPROVAL OF MINUTES
A. HERITAGE PRESERVATION COMMISSION MEETING ON OCTOBER 17, 2022
V. NEW BUSINESS
A. DISCUSS STATE HISTORIC PRESERVATION OFFICE (SHPO) GRANT
OPPORTUNITIES (BETH & ROD)
B. DISCUSS NEW COMMISSIONER TRAINING AND THE SHPO STATEWIDE
TRAINING PROGRAM MANUAL (ROD)
C. DISCUSS THE CONSOLIDATED SCHOOL AND REQUESTING LOCAL DESIGNATION
VI. OLD BUSINESS
A. PRESENT FINAL DESIGN OF FLYING RED HORSE PLAZA (BETH)
B. DISCUSS THE DORENKEMPER MARKET STUDY AND COUNCIL DIRECTION
(BETH)
C. UPDATE ON INTERVIEWS RELATED TO THE 1968 COMPREHENSIVE PLAN (BETH)
VII. REPORTS OF COMMISSION AND STAFF
VIII. REPORTS OF HISTORICAL SOCIETY
A. GENERAL UPDATE – (PAUL/BOB)
IX. FYI ITEMS
X. NEXT MEETING
DECEMBER 19, 2022
XI. ADJOURNMENT
UNAPPROVED MINUTES
EDEN PRAIRIE HERITAGE PRESERVATION COMMISSION
TUESDAY, OCTOBER 17, 2022 7:00 P.M.
8080 MITCHELL RD
HPC COMMISSION MEMBERS: Rod Fisher (Chair); Paul Thorp (Vice-
Chair); George Maxwell; Steve
Schumacher; Robert Bowes; Andrew
Scipioni; Andy Ludowese
STUDENT MEMBERS: Avik Garg, Sophie Lunda, Mary Margaret
Mellen, Ilhaam Mohamed, Jash Parekh,
Suweda Said, Siri Tanget
COMMISSION STAFF: Beth Novak-Krebs, Staff Liaison
Kristin Harley, Recording Secretary
I. CALL TO ORDER/ROLL CALL
Chair Fisher called the meeting to order at 7:00 p.m. Absent was student member Lunda.
David Lindahl, the City’s Economic Development manager, attended the meeting for
Novak-Krebs.
II. READING OF LAND ACKNOWLEDGEMENT STATEMENT
Parekh read the land acknowledgement statement.
III. APPROVAL OF AGENDA
MOTION: Schumacher moved, seconded by Scipioni to approve the agenda. Motion
carried 7-0.
IV. APPROVAL OF MINUTES
MOTION: Scipioni moved, seconded by Maxwell to approve the minutes of the
September 19, 2022, minutes. Motion carried 7-0.
V. NEW BUSINESS
A. PRESENTATION ON THE MINNESOTA RIVER VALLEY AND
THE OTHERDAY FAMILY (THORP)
Thorp displayed a map of the western river valley and explained he had
gone through the survey notes of 1854 to plot the river on the map. It had
EDEN PRAIRIE HERITAGE PRESERVATION COMMISSION
October 17, 2022
Page 2
moved quite a bit over the last 180 years. At each bend in the river the
banks were eroded, then filled in. The Western Ferry (now Murphy’s
Ferry) Landing was now in water on the south side due to this.
Bloomington Ferry was on the second, center section map Thorp
displayed, between the western and eastern sides of the river. The town of
Hennepin, founded in 1853 and showing toward the eastern side of this
map, had been a “spec” town that had been abandoned only a few years
later. Indian Road was now abandoned. This road followed the river then
veered north, west of Lion’s Tap and stretched to Highway 101. The
Otherday Family owned the land between 1871-1947; Indian Road went
through their property. At this time, the city of Shakopee served those
seeking items not found in Eden Prairie. The map showed the old
riverbank in 1854.
Thorp displayed the eastern map. Riverview Road was washed out
completely. Debris fell into the river from the sandy slope, potentially
endangering some homes in the future. He pointed out the Town of
Hennepin Warehouse (1853) was one of the structures actually built, along
with a blacksmith’s shop (1853) and a tavern (1854), and the Yorkville-
Bloomington Road and Oxcart Trail. The Hennepin Ferry had truly been a
steamboat, and most travelers crossed at Murphy’s Landing. This map
showed the 1854 survey lines.
Thorp displayed the Otherday Family photograph contributed by Jan
Anderson and recounted the history of this Dakota family.
After the 1862 War, all the Dakota were pushed out of the area but some,
including the Mdewakantonwan, came back. In 1871, John Otherday was
the chief of the Mdewakantonwan, and his brother Jacob bought the land
from the Sensorbach family which ran the steamship. The land originally
cost $230.00 and Otherday paid it off in two years. Minnie Otherday had
been born on this property in 1877 in a teepee.
Thorp showed a photo of the family taken in 1917 on their land in front of
their house and stated Minnie married in 1908 and had five children, four
boys and a girl. The reference to “Lionheart” on the photograph was
probably apocryphal, as these photographs were postcards. Other family
members in the photograph were Jane Cloud, Minnie’s aunt, and her sister
Lucy. The house appeared in early aerial photographs and had no
foundation, only a dirt floor. The family lived in the house only in the
summer and returned to Shakopee in the winter.
Thorp stated Jane Cloud Gilbert loaned her brother James a few hundred
dollars and he did not pay it back, so she foreclosed his interest in the
property and in 1947 sold the property to Sever Peterson’s uncle.
EDEN PRAIRIE HERITAGE PRESERVATION COMMISSION
October 17, 2022
Page 3
Thorp displayed a photograph of Charlie Bigg, the Mdewakantonwan
business manager who had been Minnie’s grandson. Thorp displayed an
article on Minnie’s death with a photograph of her. He stated the Otherday
property had flooded many times.
Fisher explained for the benefit of the students how the commission was
trying to find ways to tell the stories of the indigenous residents in Eden
Prairie. Thorp stated Sever Peterson was a friend with Charlie Biggs, and
he had also reached out to the Mdewakantonwan nation himself, but the
tribal members were reluctant to talk.
Lindahl stated there was a good historical aerial map site at the University
of Minnesota of the area in the 1937-1940s date range. Scipioni added
there was a street in Shakopee called Otherday Circle. Bowes noted 1852
was the last battle between the Ojibwe and Dakota nations. Thorp stated
this took place at Murphy’s Landing.
Garg asked for and received clarification on the reluctance of the tribal
members to speak with the commission members. Fisher expressed
empathy for their opinion and Schumacher stated he hoped the reluctance
would wane in time. Thorp stated there were settler recollections written
in 1878 and much of the records were offensive. Discussion followed on
the legacy of Governor Ramsey.
Fisher listed resources for the students: the Mdewakantonwan Cultural
Center, Bloomington History Center, and Thorp’s information. He stated
there was much to learn but there was very little information of what
happened in Eden Prairie, merely some documented history and artefacts.
The commission had to use care in mentioning and interpreting burial or
sacred sites. Bowes stated it was part of the commission’s mission to
mend the relationship with indigenous peoples somehow.
B. UPDATE ON THE DORENKEMPER MARKET STUDY
(LINDAHL)
Lindahl displayed a Google map and pointed out the Old cabin on Riley
Lake Park site. The intent was to hire an outside firm to assess the
property’s potential. The site had limited commercial potential in his
opinion. He had just received the report from the Maxfield Research
Group and would present it to the City Council Workshop of November 1
at 5:30 p.m. and would make the report available to the commission
members.
The commission members reiterated several ideas for the site: a farmer’s
market, an ice cream shop, a general store in the house, short-term
EDEN PRAIRIE HERITAGE PRESERVATION COMMISSION
October 17, 2022
Page 4
lodging, an Airbnb with utilities installed, perhaps wine and beer service
outside the house. Lindahl stated the City Council would decide to run
water and sewer if a good reason to do it could be found. He added
Novak-Krebs would include the final report for the next meeting. The goal
was to have this nicely preserved, fully furnished historic house be alive
with activity.
Fished described for the benefit of the student representatives the
interpretive placards along the trail and next to the pavilion.
VI. OLD BUSINESS
A. UPDATE ON INTERVIEWS RELATED TO THE 1968
COMPREHENSIVE PLAN (THORP)
Thorp stated Novak-Krebs had interviewed both Lindahl and Thorp.
Fisher summarized the project for the students and encouraged them to
explore the audio already on the website.
VII. REPORTS OF COMMISSION AND STAFF
VIII. REPORTS OF HISTORICAL SOCIETY
Bowes stated the Fall Fest had been successful and had offered tours of the
Dorenkemper House. The Antique Sale would be held at the Cummins Phipps
Grill House on the first weekend in November, and Christmas Trees by the
Optimists Club would be sold again this year. Fisher encouraged the students to
visit the house.
Thorp added he had spoken to Kathie Case regarding Consolidated School being a
possibility for the local register. Bowes announced that after an extended pause
due to the pandemic, Santa Claus would return to the Cummins Phipps Grill
House this year.
Fisher asked how many members the Society had, and Thorp replied there were
about 120.
IX. FYI ITEMS
Thorp stated he had found through his research there had been a hog farm at the
tuberculosis asylum.
Fisher suggested the students visit the HPC’s website to see the interactive map
and learn the key historical sites in Eden Prairie. He also encouraged them to
contact any commission member with questions.
EDEN PRAIRIE HERITAGE PRESERVATION COMMISSION
October 17, 2022
Page 5
Thorp stated the historic “Stone House” in St. Paul was slated for demolition, but
there was a citizen’s group opposing it.
Lindahl stated Eden Prairie Local News was celebrating its second year. The
current issue had an article about the pump house and the water tank which would
be constructed in 2023, along with the installation of the interpretive panel.
X NEXT MEETING
The next HPC meeting will be held on Monday, November 21, 2022 at 7:00 p.m. in the
Heritage Room.
XI. ADJOURNMENT
MOTION: Schumacher moved, seconded by Bowes to adjourn. Motion carried 7-0.
The meeting was adjourned at 7:57 p.m.
Best Use Analysis for
Dorenkemper Site and
Adjacent Vacant Land
Eden Prairie, Minnesota
Prepared for:
City of Eden Prairie
Eden Prairie, MN
October 2022
2823 Hamline Avenue N
Roseville, MN 55113
612.338.0012
www.maxfieldresearch.com
October 10, 2022
Mr. David Lindahl
Economic Development Manager
City of Eden Prairie
8080 Mitchell Road
Eden Prairie, MN 55344
Mr. Lindahl:
Attached is our study, A Best Use Analysis for the Dorenkemper Site and Adjacent Vacant Land
in Eden Prairie, Minnesota. The study analyzes a number of topics to help inform possible uses
for the Dorenkemper Site and adjacent vacant land. The report concludes with a matrix outlin-
ing possible uses and suggestions for the Dorenkemper House and vacant land.
Maxfield Research completed a site analysis, demographic/economic analysis, hotel/short-term
residential analysis, and an over view of sports and leisure expenditures. Based on the site
characteristics and our knowledge of real estate needs, we recommended potential uses for the
Dorenkemper home and the vacant land. These uses can be found in the Recommendations
section of this report. Further analysis can be completed through a Full Feasibility Study for
detailed concept recommendations and pricing.
Please do not hesitate to contact us should you have any questions or need additional info.
Sincerely,
MAXFIELD RESEARCH AND CONSULTING, LLC
Matt Mullins Andrew McIntyre
Vice President Research Associate
Attachment
TABLE OF CONTENTS
Page
INTRODUCTION ................................................................................................................... 1
Objective of the Market Study ........................................................................................ 1
Study Outline ................................................................................................................... 1
SITE EVALUATION ................................................................................................................ 2
Introduction .................................................................................................................... 2
Site Location .................................................................................................................... 2
History ............................................................................................................................. 2
Adjacent and Surrounding Land Use ............................................................................... 14
Regional and Local Access and Visibility ......................................................................... 14
Traffic Volumes ............................................................................................................... 14
Appropriateness of Site for Development ...................................................................... 18
DEMOGRAPHIC ANALYSIS ................................................................................................... 19
Introduction ................................................................................................................... 19
Primary Market Area Definition ..................................................................................... 19
Population and Household Estimates and Projections .................................................. 23
Age Distribution Trends ................................................................................................. 25
Household Income by Age of Householder ................................................................... 28
EMPLOYMENT TRENDS ....................................................................................................... 32
Employment Projections ................................................................................................ 32
Resident Labor Force ..................................................................................................... 33
Covered Employment by Industry ................................................................................. 36
Employment and Wages ................................................................................................ 37
COMPETITIVE MARKET ANALYSIS ...................................................................................... 41
Introduction .................................................................................................................... 41
Eden Prairie Area Hospitality Overview .......................................................................... 41
Eden Prairie Rental Ordinance ........................................................................................ 50
Eden Prairie Short Term Stays ......................................................................................... 50
Riley-Jacques Barn ........................................................................................................... 52
Consumer Expenditure Patterns ..................................................................................... 52
Retail Demand and Leakage ............................................................................................ 58
Sports/Leisure Activity/Behavior of Those 18+ .............................................................. 61
RECOMMENDATIONS .......................................................................................................... 64
Site Recommendations ................................................................................................... 64
LIST OF TABLES
Table Number and Title Page
S-1 Riley-Jacques Properties & Land – Year Built/Acquired ............................................... 2
S-2 Traffic Counts, 2001 & 2009 ......................................................................................... 15
D1. Population Growth Trends and Projections, PMA, Eden Prairie, Hennepin County
& Twin Cities Metro Area, 2010 - 2030 ........................................................................ 24
D2. Population Age Distribution, PMA, Eden Prairie, & Twin Cities Metro Area
2010 - 2027 ................................................................................................................... 26
D3. Household Income by Age of Householder, PMA, 2022 & 2027 .................................. 29
D4. Household Income by Age of Householder, Eden Prairie, 2022 & 2027 ...................... 30
E1. Employment Growth Trends & Projections, PMA 2010 - 2030 .................................... 32
E2. Annual Average Resident Employment, Lake County, 2000 - 2021 ............................. 34
E3. Covered Employment Trends, Eden Prairie & Hennepin County, 2000 - 2021 ............ 37
E4. Quarterly Census Employment and Wages, Eden Prairie & Hennepin County,
2021 Q1-2022 Q1 .......................................................................................................... 40
CMA-1 Eden Prairie Area Hotel Properties, Summary of Hotel Inventory, April 2012 ......... 42
CMA-2 Market Price Segments, Smith Travel Research (STR) Definition .............................. 44
CMA-3 Eden Prairie Area Room Supply by Chain, April 2012 ................................................ 44
CMA-4 Occupancy, Room Rate & Revenue, Eden Prairie Area Overall, 2009 through 2011 46
CMA-5 Estimated Household Expenditures by Selected Product Type, PMA & Seven
County Metro Area, 2022 .......................................................................................... 54
CMA-6 Estimated Household Expenditures by Selected Product Type, Eden Prairie
& Seven County Metro Area, 2022 ............................................................................ 57
CMA-7 Retail Demand and Leakage, Eden Prairie, 2021 ....................................................... 60
CMA-8 Sports/Leisure Activity/Behavior of Those 18+, PMA, City of Eden Prairie, &
Seven County Metro Area, 2022 ................................................................................ 62
REC-1 Possibilities Matrix for Dorenkemper House & Vacant Land .................................... 64
MAPS
Page
Regional Location and Shopping ..................................................................................... 10
Zoomed In Regional Location .......................................................................................... 11
Site ................................................................................................................................... 12
Riley Lake Park ................................................................................................................ 13
Traffic Counts Near Site (Average Annual Daily Traffic) ................................................. 17
Primary Market Area ....................................................................................................... 20
Drive Time Map from Site (3, 5, & 10 Minutes) .............................................................. 21
Drive Time Map from Site (1, 3, & 5 Miles) .................................................................... 22
Eden Prairie Area Hotels ................................................................................................. 47
INTRODUCTION
MAXFIELD RESEARCH & CONSULTING, LLC. 1
Objective of the Market Study
Maxfield Research and Consulting was engaged by the City of Eden Prairie to assess the market
viability for a vacant Site and the Dorenkemper House in the Riley Jacques Farmstead; adjacent
to Riley Lake Park. The Site is located at 9100 Riley Lake Road in Eden Prairie.
Study Outline
The methodology applied to achieve the study objectives include:
• An evaluation of the Site location in Eden Prairie, including a survey of the surrounding
area and evaluation of the ease of regional and local access to the site location;
• An analysis of the economic and demographic characteristics of the local area;
• A survey of area hotel accommodations and type of properties;
• An overview of short-term rentals trends in the United States and Eden Prairie;
• Consumer and expenditures and Retail Leakage/Surplus in the Eden Prairie Area;
• Sports/leisure activities/behaviors in the Eden Prairie Area; and
• Matrix options/recommendations for the Dorenkemper House and adjacent vacant land.
SITE EVALUATION
MAXFIELD RESEARCH & CONSULTING, LLC. 2
Introduction
Maxfield Research visited the proposed location in May 2022. Based on our fieldwork, the
following discussion evaluates the proposed location and its appropriateness for development
as for various real estate uses. The site location is first described in greater detail, followed by
an assessment of adjacent and surrounding land use, proximity to demand generators, access
and visibility, and overall attractiveness of the site for various real estate products or uses.
Site Location
The Site, which consists of the Dorenkemper house and vacant land east of the Site, is located
on the Riley-Jacques Farm located at 9100 Riley Lake Road in Eden Prairie. The Dorenkemper
House and adjacent land make up approximately 1.7 acres out of the approximately 30 acres in
Riley Lake Park. The park consists of two softball fields, two tennis courts, a basketball court,
four volleyball courts, a public beach, fishing pier, boat ramp play area, and shelter. In addition,
there are approximately 38 surface parking spaces in the parking lot next to the Site as well as
nearly 200 stalls in a second parking lot to the south in Riley Lake Park.
Riley Lake Park is currently zoned P (Parks and Open Space). The site is bound by the Bearpath
Golf & Country Club, a gated residential community and golf course to the north, east and
south. In addition, there are also non-Bearpath single family homes to the south and north and
Lake Riley is to the west.
History
Below is a chart displaying the years that buildings on the Riley Jacques property were built:
Property Year Built
Riley-Jacques House 1881
Dornkemper House 1860s (Estimate)
Land Adjacent to Lake Riley Purchased by Riley Family 1857
TABLE S-1
RILEY-JACQUES PROPERTIES & LAND - YEAR BUILT/ACQUIRED
Sources: City of Eden Prairie & Maxfield Research & Consulting, LLC.
Several pictures of the Site and nearby are displayed on the following pages.
SITE EVALUATION
MAXFIELD RESEARCH & CONSULTING, LLC. 3
Looking Southwest at Site from Adjacent Parking Lot
SITE EVALUATION
MAXFIELD RESEARCH & CONSULTING, LLC. 4
Looking Northeast at the Dorenkemper House
SITE EVALUATION
MAXFIELD RESEARCH & CONSULTING, LLC. 5
Looking Southwest Towards Lake Riley in back of the Dorenkemper House
SITE EVALUATION
MAXFIELD RESEARCH & CONSULTING, LLC. 6
Riley Lake Park
SITE EVALUATION
MAXFIELD RESEARCH & CONSULTING, LLC. 7
Riley-Jacques Barn
SITE EVALUATION
MAXFIELD RESEARCH & CONSULTING, LLC. 8
Riley-Jacques Home Exterior
SITE EVALUATION
MAXFIELD RESEARCH & CONSULTING, LLC. 9
Riley-Jacques Home Interior
SITE EVALUATION
MAXFIELD RESEARCH & CONSULTING, LLC. 10
Regional Location & Area Shopping
SITE EVALUATION
MAXFIELD RESEARCH & CONSULTING, LLC. 11
Zoomed In Regional Location
SITE EVALUATION
MAXFIELD RESEARCH & CONSULTING, LLC. 12
Site Overview
SITE EVALUATION
MAXFIELD RESEARCH AND CONSULTING, LLC 13
Riley Lake Park
Source: City of Eden Prairie
SITE EVALUATION
MAXFIELD RESEARCH AND CONSULTING, LLC 14
Adjacent and Surrounding Land Use
The area surrounding the Site is largely residential. As previously mentioned , the subject site is
owned by the City of Eden Prairie and is located on the Riley-Jacques Farm. The larger Riley
Lake Park, of which the Site is a part of, is approximately 30 acres. The Site itself is about 1.7
acres.
The Site is primarily bordered by Bearpath Golf and Country Club. Bearpath is a private gated
community with access limited to residents and their guests. The community also features an
18- hole golf course and clubhouse.
Also near the Site is the Alcove at Lake Riley community to the south. as well as additional
single-family housing to the west. The Site is bordered by Lake Riley to the west.
Regional and Local Access and Visibility
Eden Prairie, due to its accessibility to Interstate 494 and US Highway 212, serves as both a
major employment hub and popular residential community for the southwestern portion of the
Twin Cities Metro Area. I-494 is a major thoroughfare for the Metro Area and home to a variety
of retail and attractions including: Eden Prairie Center, Southdale Mall, The Galleria, Hyland
Hills Ski Area, Centennial Lakes Park, the Mall of America, and Minneapolis-St Paul International
Airport. US Highway 212 connects Eden Prairie to Chaska and Carver as well as more exurban
communities like Dahlgren and Cologne.
Access to the Site from Highway 212 is possible via either the Dell Road exit in Eden Prairie or
the Great Plains Boulevard exit in Chanhassen. The Dell Road exit connects to the Site via
Pioneer Trail and Riley Lake Road. Exiting Highway 212 on Great Plains Boulevard via Lyman
Boulevard which becomes Riley Lake Road. The Site is relatively secluded and would not be as
recognizable to those not from nearby.
Traffic Volumes
Table S-2 shows Annual Average Daily Traffic (AADT) counts performed by the Minnesota
Department of Transportation (MNDOT) adjacent to and near the subject Site between the
even years of 2012, 2016, and 2020, and the odd years of 2013, 2017, and 2021. AADT counts
are generally performed every other year by state transportation authorities for interstate and
trunk highways. Each count shows the total amount of traffic in the corridor on average for a
given day in that year. Generally, higher traffic volumes are advantageous for commercial
properties due to the exposure and visibility.
SITE EVALUATION
MAXFIELD RESEARCH AND CONSULTING, LLC 15
Location 2012 2016 2020 2012 - 2016 2016 - 2020
1,150 1,000 1,050 -13.0% 5.0%
520 590 630 13.5% 6.8%
10,100 NA 7,200 -- --
7,200 7,100 7,400 -1.4% 4.2%
Location 2013 2017 2021 2013 - 2017 2017 - 2021
NA NA 1,891 -- --
NA NA 6,977 -- --
8,300 NA 6,900 -- --
10,100 NA 7,200 -- --
7,200 7,100 7,400 -1.4% 4.2%
11,900 13,400 NA 12.6%--
NA 10,900 NA -- --
2,850 3,850 4,007 35.1% 4.1%
NA: Not Assessed.
Source: MNDOT & Maxfield Research and Consulting.
Lyman Blvd E of CSAH 101 (Great Plains
Blvd) & approximatelt W of Reflections
CSAH 101 (Great Plains Blvd) - N of
Lyman Blvd & S of Crossroads Blvd
CSAH 101 (Great Plains Blvd) - S of Lake
Rd & N of Crossroads Blvd
Dell Rd- S of Big Woods Ln & N of CSAH
1 (Pioneer Trl)
Dell Rd - S of US Highway 212 Exit/On
Ramp & N of Big Woods Ln
Dell Rd - S of Magenta Bay/W 82nd St &
N of US Highway 212 Exit/On Ramp
CSAH 1 (Pioneer Trl) - W of Cedar
Forest & E of Stable Path
CSAH 1 (Pioneer Trl) - E of Hennepin Co
& Carver Co County Line & W of Stable
TABLE S-2
TRAFFIC COUNTS NEAR SITE
AVERAGE ANNUAL DAILY TRAFFIC (AADT)
% Change Year
Lake Riley Rd - N of CSAH 1 (Pioneer
Trl) & E of Stephens Pt Rd
Lyman Blvd/Lake Riley Rd - E of
Reflections Rd & W of Stephens Pt Rd
Dell Rd - S of US Highway 212 Exit/On
Ramp & N of Big Woods Ln
Dell Rd- S of Big Woods Ln & N of CSAH
1 (Pioneer Trl)
% Change Year
SITE EVALUATION
MAXFIELD RESEARCH AND CONSULTING, LLC 16
• The segment adjacent to the Site and Lake Riley Park (Lake Riley Road North of Pioneer
Trail and East of Stephens Point Road) averaged nearly 1,050 vehicles per day in 2020. This
average annual daily traffic count is up 5.0% from 2016 but down 8.7% from 2012.
• A segment just north of the Site (Lake Riley Road – East of Reflections Road and West of
Stephens Point Road) averaged 630 vehicles per day in 2020. This average annual daily
traffic count is up 6.8% from 2016 and 21.2% from 2012.
• Near the Site along Dell Road (South of the US Highway 212 Exit/On Ramp and north of Big
Woods Lane averaged nearly 7,200 vehicles per day in 2020. This average annual daily traf-
fic count is down 28.7% from 2012.
• Along Dell Road (North of Pioneer Trail and South of Big Woods Lane) averaged 7,400
vehicles per day in 2020. This average annual daily traffic count is up 4.2% from 2016 and
2.8% from 2012.
• Lyman Boulevard (east of Great Plains Boulevard and west of Reflections Road) near the
Site averaged 4,007 vehicles per day in 2021. This average annual daily traffic count is up
4.1% from 2017 and 41.6% from 2013.
• Great Plains Boulevard (South of Lake Road and north of Crossroads Boulevard) averaged
13,400 vehicles per day in 2017 (no 2021 data was available) . This average annual daily
traffic count is up 12.6% from 2013.
• Great Plains Boulevard (North of Lyman Boulevard and south of Crossroads Boulevard)
averaged 10,900 vehicles per day in 2017 (no 2021 or 2013 data was available).
• In 2021 portions of US Highway 212 near the Site averaged from a little over 44,600 vehi-
cles per day to a little under 49,500 vehicles per day.
SITE ANALYSIS
MAXFIELD RESEARCH & CONSULTING, LLC. 17
Traffic Counts Near Site (Average Annual Daily Traffic)
Source: Minnesota Department of Transportation’s (MnDOT) Traffic Mapping Application
SITE ANALYSIS
MAXFIELD RESEARCH & CONSULTING, LLC. 18
Appropriateness of Site for Development
The following summarizes the subject Site’s key strengths and weaknesses as it relates to future
development opportunities on the Dornkemper house and vacant land:
Strengths
• Convenient access via US Highway 212 and I-494;
• Walking distance to Riley Lake Park and park amenities;
• Lake Access (Lake Riley);
• Wooded topography on west side of site; and
• Retail and shopping a short drive away.
Weaknesses
• Surrounding residential land uses limit future commercial opportunities;
• Relatively secluded and unknown to those not from neighborhood;
• Low traffic counts near the Site; and
• Despite convenient access to the Site it lacks visibility.
DEMOGRAPHIC ANALYSIS
MAXFIELD RESEARCH & CONSULTING, LLC. 19
Introduction
This section of the report examines factors related to the current and future demand for
various real estate types in the Primary Market Area; primarily composed of Census Tracts in
Eden Prairie as well as other tracts in the cities of Chanhassen and Chaska. This section includes
an analysis of population and household growth trends and projections, projected age distribu-
tion, and household income distributions in the Primary Market Area, Eden Prairie, and other
regional geographies . A review of these characteristics provides insight into the demand for
various market uses in the PMA.
Primary Market Area Definition
Maxfield Research identified a Primary Market (PMA) for the Dorenkemper Site that consists of
the following census tracts in Eden Prairie; 260.15, 260.19, 260.20, 260.21, 260.23, 260.24,
260.25, 260.26, 260.27, 260.28, the following census tracts in Chanhassen; 907.02, 907.03,
907.04, and the following Census tracts in Chaska; 909.01 and 909.02. Maxfield Research
analyzed the capacity of the Primary Market Area (or PMA), to support a variety of uses based
on its current resident base and considered growth trends and demographic characteristics,
traffic and community orientation patterns, geographic and man-made barriers, discussions
with local officials, and our experience in for-sale and rental housing feasibility. A map of the
Primary Market Area followed by two drive time maps from the Site can be found on the
following pages.
260.15 260.19
260.20 260.21
260.23 260.24
260.25 260.26
260.27 260.28
907.02 907.03
907.04
909.01 909.02
Chaska
PRIMARY MARKET AREA
PMA CENSUS TRACTS BY CITY
Eden Prairie
Chanhassen
DEMOGRAPHIC ANALYSIS
MAXFIELD RESEARCH & CONSULTING, LLC. 20
Primary Market Area
DEMOGRAPHIC ANALYSIS
MAXFIELD RESEARCH & CONSULTING, LLC. 21
Drive Time Map from Site (3, 5, & 10 Minutes)
DEMOGRAPHIC ANALYSIS
MAXFIELD RESEARCH & CONSULTING, LLC. 22
Radius Map from Site (1, 3, and 5 Miles)
DEMOGRAPHIC ANALYSIS
MAXFIELD RESEARCH & CONSULTING, LLC. 23
Population and Household Estimates and Projections
Table D-1, on the following page, presents population and household growth trends and
projections for the Primary Market Area through . Following Table D-1 are graphs illustrating
population and household growth in the PMA compared to Eden Prairie, Hennepin County, and
the 7-County Twin Cities Metro Area. Estimates for 2022 and projections to 2027 are based on
information from ESRI (a national demographics service provider). Projections for Hennepin
County and the Metro Area were obtained via the Metropolitan Council while projects for 2030
were based off ESRI estimates and projections adjusted to 2030 by Maxfield Research.
• The PMA had a population of 53,416 people in 2010, and a household base of 20,685
households. As of 2020, the population in the PMA rose 8.6% (4,616 people) while the
household base grew by 1,568 households, an increase of 7.6%.
• Between 2020 and 2022, the population in the PMA is estimated to have increased by 1.8%
(1,058 people), while households increased by 1.9% (432 people). By 2030, the PMA is pro-
jected to have a population of 60,105; with a household base of 23,060. This is a projected
gain of 2,073 people (3.6%) and 807 households (3.6%) over the next eight years.
• Eden Prairie had a population of 60,797 in 2010 and a household base of 20,930 house-
holds. Gains in Eden Prairie were slower than the PMA between 2010 and 2020, with a
population gain of 5.6% (3,401 people) and a household gain of 4.0% (962 households). Be-
tween 2020 and 2022, population in the City is estimated to have increased by 1,688 people
(a 2.6% increase) while households were estimated to have increased by 456 people (1.8%).
Over the next eight years Eden Prairie’s population is projected to increase by 1,459 people
(2.2%) while its households are projected to increase by 375 people (1.7%). Most of this
population growth will be through multifamily housing and redevelopment as available land
has largely disappeared in Eden Prairie.
• Hennepin County and the Twin Cities Metro Area experienced higher percentage growth
than the PMA and Eden Prairie. Between 2010 and 2020 Hennepin County experienced
11.2% population growth and 11.1% household growth while the Metro Area experienced
11.0% population growth and 10.9% household growth. In addition, between 2020 and
2022 Hennepin County experienced 2.2% population growth and 2.2% household growth
while the Metro Area experienced 2.0% population growth and 2.0% household growth.
• Between 2022 and 2030 Hennepin County and the Twin Cities Metro Area are projected to
continue to experience higher percentage growth than the PMA and Eden Prairie. Over the
next eight years Hennepin County is forecast to experience 5.1% population growth and
7.6% household growth while the Metro Area is forecast to experience 6.9% population
growth and 6.8% household growth.
DEMOGRAPHIC ANALYSIS
MAXFIELD RESEARCH & CONSULTING, LLC. 24
Estimate
2010 2020 2022 2027 2030 No.Pct.No.Pct.
Primary Market Area 53,416 58,032 59,090 59,725 60,105 5,674 10.6% 1,015 1.7%
City of Eden Prairie 60,797 64,198 65,886 66,797 67,345 5,089 8.4% 1,459 2.2%
Hennepin County 1,152,428 1,281,565 1,309,724 1,332,610 1,376,120 157,296 13.6%66,396 5.1%
Twin Cities Metro Area*2,849,567 3,163,104 3,227,620 3,286,438 3,451,000 378,053 13.3% 223,380 6.9%
Primary Market Area 20,685 22,253 22,685 22,919 23,060 2,000 9.7% 375 1.7%
City of Eden Prairie 23,930 24,892 25,348 25,649 25,830 1,418 5.9% 482 1.9%
Hennepin County 475,913 528,547 540,105 549,223 581,340 64,192 13.5%41,235 7.6%
Twin Cities Metro Area*1,117,749 1,239,526 1,264,908 1,287,328 1,351,000 147,159 13.2%86,092 6.8%
Sources: US Census Bureau; ESRI; Metropolitan Council; & Maxfield Research & Consulting, LLC.
TABLE D-1
POPULATION AND HOUSEHOLD GROWTH TRENDS AND PROJECTIONS
PRIMARY MARKET AREA
2010 - 2030
Population
*Includes the Seven-County Metro Area (Anoka, Carver, Dakota, Hennepin, Ramsey, Scott, and Washington Counties).
Households
Change
2010-2022 2022-2030CensusForecast
DEMOGRAPHIC ANALYSIS
MAXFIELD RESEARCH & CONSULTING, LLC. 25
Age Distribution Trends
Table D-2 shows the distribution of persons in eight age cohorts for the Primary Market Area in
2010 with estimates for 2022 and projections for 2027. The 2010 age distributions are from the
U.S. Census Bureau and obtained via ESRI. Maxfield Research derived the 2022 estimates and
2027 projections from ESRI data with adjustments made by Maxfield Research to reflect local
trends.
The key points from the table are found below.
• In 2010, the largest adult age cohort in the PMA was the 45 to 54 age group. This age
cohort was also the largest adult cohort in Eden Prairie and the Twin Cities Metro Area. Be-
tween 2010 and 2022, the 55 to 64 age cohort grew by 37.6% (2,317 people) in the PMA, by
24.1% (1,851 people) in Eden Prairie, and by 27.8% (90,677 people) in the Metro Area as
those 45 to 54 entered the 55 to 64 age cohort.
DEMOGRAPHIC ANALYSIS
MAXFIELD RESEARCH & CONSULTING, LLC. 26
Census Estimate Projection
Age 2010 2022 2027 No.Pct.No.Pct.
Under 20 15,949 15,423 14,898 -526 -3.3% -525 -3.4%
20 to 24 2,234 3,468 3,158 1,234 55.2% -310 -8.9%
25 to 34 7,082 7,289 8,153 207 2.9% 864 11.9%
35 to 44 7,963 8,523 8,616 560 7.0% 93 1.1%
45 to 54 9,786 7,909 7,508 -1,877 -19.2% -401 -5.1%
55 to 64 6,157 8,474 7,514 2,317 37.6% -960 -11.3%
65 to 74 2,358 5,223 6,168 2,865 121.5% 945 18.1%
75+ 1,887 2,781 3,710 894 47.4% 929 33.4%
Total 53,416 59,090 59,725 5,674 10.6% 635 1.1%
Under 20 17,206 16,769 16,341 -437 -2.5% -428 -2.6%
20 to 24 2,825 3,814 3,645 989 35.0% -169 -4.4%
25 to 34 8,370 8,179 8,862 -191 -2.3% 683 8.4%
35 to 44 8,441 9,475 9,701 1,034 12.2% 226 2.4%
45 to 54 11,052 8,611 8,478 -2,441 -22.1% -133 -1.5%
55 to 64 7,678 9,529 8,194 1,851 24.1% -1,335 -14.0%
65 to 74 3,001 6,151 7,144 3,150 105.0% 993 16.1%
75+ 2,224 3,358 4,432 1,134 51.0% 1,074 32.0%
Total 60,797 65,886 66,797 5,089 8.4% 911 1.4%
Under 20 774,287 800,431 795,880 26,144 3.4% -4,551 -0.6%
20 to 24 190,135 207,360 206,501 17,225 9.1% -859 -0.4%
25 to 34 420,311 460,248 457,217 39,937 9.5% -3,031 -0.7%
35 to 44 391,324 445,614 466,984 54,290 13.9% 21,370 4.8%
45 to 54 440,753 393,817 390,343 -46,936 -10.6% -3,474 -0.9%
55 to 64 326,007 416,684 383,852 90,677 27.8% -32,832 -7.9%
65 to 74 163,425 299,081 334,145 135,656 83.0% 35,064 11.7%
75+ 143,325 204,385 251,516 61,060 42.6% 47,131 23.1%
Total 2,849,567 3,227,620 3,286,438 378,053 13.3% 58,818 1.8%
TABLE D-2
AGE DISTRIBUTION
PRIMARY MARKET AREA
2010 - 2027
Change
Sources: U.S. Census Bureau; ESRI; & Maxfield Research & Consulting, LLC.
City of Eden Prairie
Primary Market Area
Twin Cities Metro Area
2010-2022 2022-2027
• Between 2010 and 2022 the age cohort that experienced the largest percentage increase in
all three geographies was the 65 to 74 age group. The percentage increase for each of the
three geographies was 121.5% (2,865 people) in the PMA, 105.0% in Eden Prairie (3,150
people), and 83.0% in the Twin Cities Metro Area (135,656 people).
DEMOGRAPHIC ANALYSIS
MAXFIELD RESEARCH & CONSULTING, LLC. 27
• In 2022 the largest age cohort in the PMA is estimated to be those 25 to 44 with 8,523
people. In contrast, the largest adult age cohort in Eden Prairie is the 55 to 64 age group
(9,529 people) and in the Twin Cities Metro is the 25 to 34 age group (460,248 people). By
2030, the largest age cohort is projected to be those between 35 to 44 in all three geogra-
phies.
• The largest percentage growth between 2022 and 2027 is projected to occur in the 75 plus
age cohort. The increasing older adult population mirrors larger state and national trends
of an aging population, due primarily to the aging of the baby boom generation. A graph on
the following page displays the age breakdown of PMA residents for 2010 as well as the
projected age breakdown for PMA residents in 2022 and 2027.
DEMOGRAPHIC ANALYSIS
MAXFIELD RESEARCH & CONSULTING, LLC. 28
Household Income by Age of Householder
The estimated household income distribution in the PMA and Eden Prairie in 2022 and 2027 are
shown in Tables D-3 and D-4. The data was estimated by Maxfield Research based on income
trends provided by ESRI. The data helps ascertain the demand for different housing products
based on the size of the market at specific cost levels or income that can be allocated for
consumer expenditures.
The Department of Housing and Urban Development defines affordable housing costs as 30% of
a household’s adjusted gross income. For example, a household with an income of $50,000 per
year would be able to afford an estimated monthly housing cost of $1,250. In addition seniors,
can typically utilize a higher percentage of their household’s adjusted gross income as they
generally have lower living expenses and can often sell their homes and use the proceeds
toward rent payments.
A generally accepted standard for affordable owner-occupied housing is that a typical house-
hold can afford to pay 3.0 to 3.5 times their annual income for a single-family home. Therefore,
a $50,000 income would translate to an affordable single-family home of $150,000 to $175,000.
The higher end of this range assumes that the person has adequate funds for down payment
and closing costs but excludes savings or equity in an existing home.
Table D-3 presents household income by age of the householder in the PMA as of 2022 and
2027.
• In 2022, the median income in the PMA was estimated at $132,024 across all ages. The
median income is forecast to rise by 15.8% to $152,396 by 2027.
• The highest median income in the PMA was recorded among those 45 to 54 at $177,915 in
2022. In 2027, those 45 to 54 are again expected to be the highest earners in the City with
a median income of $190,132, a 6.9% increase.
• Between 2022 and 2027, the median income of householders 75 years of age and older is
forecast to experience the greatest growth, increasing 40.2% from $59,981 in 2022 to
$84,082 in 2027. In addition, the 65 to 74 age cohort is projected to increase 31.2% from
$98,409 in 2022 to $128,901 in 2027. The increase in income among the 65 to 74 and 75
plus age groups reflects the population growth of older age cohorts.
• The August 2022 median sale price for a single-family home in the PMA was $510,000. In
order to afford a home at this price and not be cost-burdened, a household would need an
estimated income of $145,714 to $170,000. Approximately 47% (48.1%) of households in
the PMA could afford a single-family home priced at $510,000.
DEMOGRAPHIC ANALYSIS
MAXFIELD RESEARCH & CONSULTING, LLC. 29
Total <25 25-34 35-44 45-54 55-64 65 -74 75+
Less than $15,000 550 44 82 68 74 117 59 106
$15,000 to $24,999 578 39 80 55 68 101 80 155
$25,000 to $34,999 689 55 101 63 50 101 121 198
$35,000 to $49,999 1,098 74 198 200 102 122 172 230
$50,000 to $74,999 2,416 122 386 408 239 333 634 294
$75,000 to $99,999 2,860 110 598 627 308 445 516 256
$100,000 to $199,999 7,818 126 1,290 1,776 1,644 1,794 911 277
$200,000 or more 6,676 23 624 1,428 1,896 1,932 621 152
Total 22,685 593 3,359 4,625 4,381 4,945 3,114 1,668
Median Income $132,024 $65,068 $110,983 $144,818 $177,915 $164,147 $98,409 $59,981
Less than $15,000 353 38 45 39 38 53 39 101
$15,000 to $24,999 344 24 44 24 29 47 51 125
$25,000 to $34,999 399 29 52 26 20 37 77 158
$35,000 to $49,999 692 48 127 107 48 52 106 204
$50,000 to $74,999 1,907 108 300 294 165 196 509 335
$75,000 to $99,999 2,748 125 593 569 272 347 483 359
$100,000 to $199,999 9,012 180 1,672 1,935 1,594 1,713 1,346 572
$200,000 or more 7,464 23 848 1,576 1,912 1,840 958 307
Total 22,919 575 3,681 4,570 4,078 4,285 3,569 2,161
Median Income $152,936 $81,167 $133,370 $160,199 $190,132 $178,860 $128,901 $84,082
Less than $15,000 -197 -6 -37 -29 -36 -64 -20 -5
$15,000 to $24,999 -234 -15 -36 -31 -39 -54 -29 -30
$25,000 to $34,999 -290 -26 -49 -37 -30 -64 -44 -40
$35,000 to $49,999 -406 -26 -71 -93 -54 -70 -66 -26
$50,000 to $74,999 -509 -14 -86 -114 -74 -137 -125 41
$75,000 to $99,999 -112 15 -5 -58 -36 -98 -33 103
$100,000 to $199,999 1,194 54 382 159 -50 -81 435 295
$200,000 or more 788 0 224 148 16 -92 337 155
Total 234 -18 322 -55 -303 -660 455 493
Median Income $20,912 $16,099 $22,387 $15,381 $12,217 $14,713 $30,492 $24,101
Change 2022 - 2027
2022
2027
Sources: ESRI; US Census Bureau; Maxfield Research & Consulting, LLC.
TABLE D-3
HOUSEHOLD INCOME BY AGE OF HOUSEHOLDER
PRIMARY MARKET AREA
2022 & 2027
Age of Householder
Table D-4 shows the median income for Eden Prairie for 2022 and 2027.
• The 2022 median income for Eden Prairie was $125,721 for all age cohorts. The median
income is expected to rise 17.2% to $147,288 in 2027.
• In Eden Prairie, the highest income earners in 2022 were those 45 to 54 in 2022 ($171,937).
Those 45 to 54 are also projected to remain the highest earners in 2027 with a median in-
come of $186,290.
• Similar to the PMA, between 2022 and 2027, the 75 plus age cohort is forecast to experi-
ence the strongest income growth, increasing 36.5% between 2022 and 2027 from $60,310
DEMOGRAPHIC ANALYSIS
MAXFIELD RESEARCH & CONSULTING, LLC. 30
to $82,320. The 65 to 74 age group is also projected to experience high income growth,
growing by 26.3% from $98,777 in 2022 to $124,739 in 2027.
• The August 2022 median sale price for a single-family home in Eden Prairie was $501,000.
In order to afford a home at this price and not be cost-burdened, a household would need
an estimated income of $143,143 to $167,000. Approximately 48% (47.5%) of households in
Eden Prairie could afford a single-family home priced at $501,000
Total <25 25-34 35-44 45-54 55-64 65 -74 75+
Less than $15,000 614 60 102 70 58 104 95 125
$15,000 to $24,999 616 49 96 58 62 82 94 175
$25,000 to $34,999 692 63 101 66 47 103 107 205
$35,000 to $49,999 1,388 101 261 236 110 158 207 315
$50,000 to $74,999 2,894 142 451 502 320 420 681 378
$75,000 to $99,999 3,409 131 668 726 377 538 654 315
$100,000 to $199,999 8,536 140 1,378 1,949 1,749 1,949 1,036 335
$200,000 or more 7,199 24 654 1,496 1,969 2,125 754 177
Total 25,348 710 3,711 5,103 4,692 5,479 3,628 2,025
Median Income $125,721 $61,958 $107,198 $136,992 $171,937 $161,097 $98,777 $60,310
Less than $15,000 387 52 55 41 32 38 57 112
$15,000 to $24,999 356 31 54 24 28 31 55 133
$25,000 to $34,999 392 38 50 30 18 39 62 155
$35,000 to $49,999 905 75 178 135 57 65 128 267
$50,000 to $74,999 2,517 136 392 392 256 271 595 475
$75,000 to $99,999 3,413 153 705 697 352 415 646 445
$100,000 to $199,999 9,430 194 1,658 2,077 1,716 1,727 1,391 667
$200,000 or more 8,249 25 879 1,713 2,089 2,032 1,157 354
Total 25,649 704 3,971 5,109 4,548 4,618 4,091 2,608
Median Income $147,288 $77,285 $125,384 $156,067 $186,290 $180,342 $124,739 $82,320
Less than $15,000 -227 -8 -47 -29 -26 -66 -38 -13
$15,000 to $24,999 -260 -18 -42 -34 -34 -51 -39 -42
$25,000 to $34,999 -300 -25 -51 -36 -29 -64 -45 -50
$35,000 to $49,999 -483 -26 -83 -101 -53 -93 -79 -48
$50,000 to $74,999 -377 -6 -59 -110 -64 -149 -86 97
$75,000 to $99,999 4 22 37 -29 -25 -123 -8 130
$100,000 to $199,999 894 54 280 128 -33 -222 355 332
$200,000 or more 1,050 1 225 217 120 -93 403 177
Total 301 -6 260 6 -144 -861 463 583
Median Income $21,567 $15,327 $18,186 $19,075 $14,353 $19,245 $25,962 $22,010
Change 2022 - 2027
2022
2027
Sources: ESRI; US Census Bureau; & Maxfield Research & Consulting, LLC.
TABLE D-4
HOUSEHOLD INCOME BY AGE OF HOUSEHOLDER
EDEN PRAIRIE
2022 & 2027
Age of Householder
DEMOGRAPHIC ANALYSIS
MAXFIELD RESEARCH & CONSULTING, LLC. 31
EMPLOYMENT TRENDS
MAXFIELD RESEARCH & CONSULTING, LLC. 32
Employment Projections
Table E-1 shows employment data for 2010, 2015, 2020, and 2021 from the Quarterly Census of
Employment and Wages (QCEW) program for Eden Prairie, Hennepin County, and the 7-County
Twin Cities Metro Area. In addition, projections for 2025 and 2030 are also shown for the two
respective geographies. Historic employment data was obtained via the Minnesota Depart-
ment of Employment and Economic Development (MN Deed). In addition, 2030 data was
obtained via the Metropolitan Council while 2025 data was based off Metropolitan Council and
MN Deed Data with adjustments by Maxfield Research.
Maxfield Research projects total employment in Eden Prairie will increase by 7.3% between
2020 and 2025, while employment in Hennepin County and the Metro Area is projected to
increase by 8.5% and 7.9%, respectively. Employment between 2025 and 2030 is expected to
increase in Eden Prairie by an even greater percentage (8.9%). In contrast, employment
Hennepin County and the Metro Area is projected to increase by 7.6% and 7.0%, respectively
over the last five years of the 2020s. Eden Prairie, with Eden Prairie Center and a number of
large companies and office parks, is an employment center for the Southwestern portion of the
Twin Cities Metro Area.
Annual
Employment
2010
2015
2020
2021
2025 Forecast
2030 Forecast
Change No.Pct.No.Pct.No.Pct.
2010 - 2015 8,385 17.2% 79,778 9.9% 138,251 9.0%
2015 - 2020 1,020 1.8% -20,584 -2.6% -31,238 -1.9%
2020 - 2025 4,253 7.3% 73,244 8.5% 131,729 7.9%
2025 - 2030 5,540 8.9% 71,429 7.6% 124,217 7.0%
Note: The Twin Cities Seven County Metro includes the following counties:
Anoka, Carver, Dakota, Hennepin, Scott, Ramsey, and Washington.
Sources: MN DEED; Met Council; & Maxfield Research and Consulting, LLC.
48,802 803,733 1,537,041
1,644,054
57,187 883,511 1,675,292
58,207 862,927
City of Eden
Prairie
Hennepin County Twin Cities Seven
County Metro
A
TABLE E-1
EMPLOYMENT GROWTH TRENDS AND PROJECTIONS
PRIMARY MARKET AREA
2010 to 2030
68,000 1,007,600 1,900,000
62,460 936,171 1,775,783
58,028 879,028 1,676,409
EMPLOYMENT TRENDS
MAXFIELD RESEARCH & CONSULTING, LLC. 33
Resident Labor Force
Table E-2 presents resident employment data for Eden Prairie from 2010 through 2021. Resi-
dent employment data is calculated as an annual average and reveals the work force and
number of employed persons living in the specified geography. Not all of these individuals
however, work in Eden Prairie. The unemployment rate for Hennepin County, the Twin Cities
Metro Area, Minnesota, and the US is also shown for the following years: 2010, 2015, 2020, and
2021. The data was obtained from the Minnesota Department of Employment and Economic
Development (MN DEED).
• The 2021 unemployment rate in Eden Prairie was 2.6%. This was below the unemployment
rate in Hennepin County, the Twin Cities Metro Area, and Minnesota all at 3.4% unemploy-
ment and the US at 5.3% unemployment.
• Between 2010 and 2021 Eden Prairie’s labor force increased by 1,183 people (3.4%), aver-
aging 99 people annually during this period. In the larger Twin Cities Metro, the labor in-
creased by 97,119 people (6.1%), averaging 8,093 people annually during that time period.
• Overall employment between 2010 and 2021 averaged 34,409 people employed in Eden
Prairie. Employment hit a peak of 36,219 employees in 2019.
• The number of unemployed residents in Eden Prairie declined 55.7% from 2,120 employees
in 2010 to 940 employed residents in 2021.
• As the Covid 19 Pandemic hit, unemployment peaked at almost 10% (9.9%) in Eden Prairie
in May 2020. However, Eden Prairie’s peak unemployment rate in May 2020 was still less
than in Hennepin County (12.1%), the Twin Cities Metro Area (11.8%), Minnesota (10.9%),
and the US (13.0%). A graph on the following pages depicts the monthly unemployment
rate in all five geographies between January 2020 and July 2022.
EMPLOYMENT TRENDS
MAXFIELD RESEARCH & CONSULTING, LLC. 34
Labor
Year Force Employed Unemployed Rate
2010 34,601 32,481 2,120 6.1%
2011 34,858 33,049 1,809 5.2%
2012 35,014 33,422 1,592 4.5%
2013 35,138 33,757 1,381 3.9%
2014 35,324 34,187 1,137 3.2%
2015 35,292 34,288 1,004 2.8%
2016 35,717 34,654 1,063 3.0%
2017 36,566 35,580 986 2.7%
2018 36,582 35,694 888 2.4%
2019 37,206 36,219 987 2.7%
2020 36,677 34,732 1,945 5.3%
2021 35,784 34,844 940 2.6%
Change 2010-2021
Number 1,183 2,363 -1,180 --
Percent 3.4% 7.3% -55.7%--
2010 650,891 605,294 45,597 7.0%
2015 676,722 654,583 22,139 3.3%
2020 715,240 667,542 47,698 6.7%
2021 693,393 669,687 23,706 3.4%
2010 1,593,385 1,479,385 114,000 7.2%
2015 1,649,759 1,594,798 54,961 3.3%
2020 1,742,842 1,629,444 113,398 6.5%
2021 1,690,504 1,633,867 56,637 3.4%
2010 2,940,816 2,723,025 217,791 7.4%
2015 3,005,413 2,891,672 113,740 3.8%
2020 3,122,980 2,925,514 197,465 6.3%
2021 3,021,360 2,918,393 102,967 3.4%
2010 153,888,583 139,063,916 14,824,750 9.6%
2015 157,129,916 148,833,416 8,296,333 5.3%
2020 160,742,333 147,794,750 12,947,583 8.1%
2021 161,203,916 152,580,666 8,623,250 5.3%
Minnesota
US
Note: data is not seasonally adjusted. The Twin Cities Seven County
Metro Area includes the following counties: Anoka, Carver, Dakota,
Hennepin, Scott, Ramsey, and Washington.
Sources: MN DEED, Maxfield Research and Consulting LLC.
TABLE E-2
ANNUAL AVERAGE RESIDENT EMPLOYMENT
2010 to 2021
Twin Cities Seven County Metro
CITY OF EDEN PRAIRIE, HENNEPIN COUNTY, TWIN CITIES METRO AREA,
MINNESOTA, & THE US
Hennepin County
City of Eden Prairie
EMPLOYMENT TRENDS
MAXFIELD RESEARCH & CONSULTING, LLC. 35
EMPLOYMENT TRENDS
MAXFIELD RESEARCH & CONSULTING, LLC. 36
Covered Employment by Industry
Table E-3 presents covered employment workforce numbers for Eden Prairie and Hennepin
County for 2000, 2005, 2010, 2015, 2020, and 2021. Covered employment data is calculated as
an annual average and reveals the number of jobs in the designated area, which are covered by
unemployment insurance. Many temporary workforce positions, agricultural, self-employed
persons, and some other types of jobs are not covered by unemployment insurance and are not
included in the table. The data is sourced from the Minnesota Department of Employment and
Economic Development. The following are key trends derived from the employment data:
• The Professional and Business Services industry accounted for the largest share of employ-
ment in Eden Prairie, with 23,807 employees accounting for 41.0% of employment in 2021.
The Professional and Business Services industry is followed by the Trade, Transportation,
and Utilities sector with 10,005 employees (17.2% of 2021 employment) and the Manufac-
turing sector with 6,976 employees (12.0% of 2021 employment).
• In Hennepin County the Education and Health Services industry accounted for the largest
share of employment in the County, with 204,935 employees accounting for 23.3% of em-
ployment in 2021. The Education and Health Services industry is followed by the Profes-
sional and Business Services sector with 195,529 employees (22.2% of 2021 employment)
and the Manufacturing sector with 147,405 employees (16.8% of 2021 employment).
• Between 2010 and 2021 the Professional and Business Services industry experienced the
largest numeric and percentage growth in Eden Prairie, adding 11,363 employees, a 91.3%
increase. Similarly, between the same time period, Hennepin County experienced the larg-
est numeric, adding 35,061 employees, a 21.8% increase. However, in contrast to Eden
Prairie, the Construction industry experienced the largest percentage increase (54.5%) in
Hennepin County, adding 11,237 people.
• Eden Prairie’s Information sector experienced the largest percentage decrease between
2010 and 2021, declining by 35.7% (836 employees) while its Leisure and Hospitality sector
experienced the largest numeric decrease, declining by 1,229 employees (30.1%).
• Similar to Eden Prairie, Hennepin County’s Information sector experienced the largest
percentage decrease between 2010 and 2021, declining by 11.3% (2,428 employees) while
its Leisure and Hospitality sector experienced the largest numeric decrease, declining by
8,039 employees (11.2%).
• Eden Prairie’s employment represented 6.6% of Hennepin County’s overall employment, up
from a low of 5.7% in 2005 but less than a high of 6.7% in 2020.
EMPLOYMENT TRENDS
MAXFIELD RESEARCH & CONSULTING, LLC. 37
Industry 2000 2005 2010 2015 2020 2021 No.Pct.2000 2005 2010 2015 2020 2021
Natural Resources & Mining NA NA NA 15 21 22 -- -- -- -- --0.0% 0.0% 0.0%
Construction NA NA NA 1,383 1,378 1,507 -- -- -- -- --2.4% 2.4% 2.6%
Manufacturing 10,226 8,257 7,266 8,070 7,261 6,976 -290 -4.0% 20.2% 17.5% 14.9% 14.1% 12.5% 12.0%
Trade, Transportation, and Utilities 10,730 10,330 10,398 11,425 9,832 10,005 -393 -3.8% 21.2% 21.9% 21.3% 20.0% 16.9% 17.2%
Information 1,917 2,085 2,339 1,753 1,836 1,503 -836 -35.7% 3.8% 4.4% 4.8% 3.1% 3.2% 2.6%
Financial Activities 3,904 4,443 4,502 12,298 5,932 4,636 134 3.0% 7.7% 9.4% 9.2% 21.5% 10.2% 8.0%
Professional and Business Services 13,438 10,548 12,444 10,911 22,782 23,807 11,363 91.3% 26.5% 22.4% 25.5% 19.1% 39.1% 41.0%
Education and Health Services 3,787 4,387 4,873 5,212 4,643 4,887 14 0.3% 7.5% 9.3% 10.0% 9.1% 8.0% 8.4%
Leisure and Hospitality 2,980 3,626 4,087 4,108 2,751 2,858 -1,229 -30.1% 5.9% 7.7% 8.4% 7.2% 4.7% 4.9%
Other Services 1,299 NA 1,138 1,187 1,061 1,072 -66 -5.8% 2.6%--2.3% 2.1% 1.8% 1.8%
Public Administration 454 441 739 824 711 763 24 3.2% 0.9% 0.9% 1.5% 1.4% 1.2% 1.3%
Totals 50,656 47,136 48,802 57,187 58,207 58,028 9,226 18.9%
Industry 2000 2005 2010 2015 2020 2021 No.Pct.2000 2005 2010 2015 2020 2021
Natural Resources & Mining 731 714 815 942 984 988 -- -- -- -- -- -- -- --
Construction 34,201 31,871 20,619 26,891 31,480 31,856 -- -- --3.8% 2.6%-- -- --
Manufacturing 104,217 86,623 70,978 74,506 72,344 73,133 2,155 3.0% 11.9% 10.4% 8.8% 8.4% 8.4% 8.3%
Trade, Transportation, and Utilities 190,600 173,107 151,837 159,950 143,939 147,405 -4,432 -2.9% 21.8% 20.8% 18.9% 18.1% 16.7% 16.8%
Information 31,980 NA 21,396 20,783 19,469 18,968 -2,428 -11.3% 3.7%N/A 2.7% 2.4% 2.3% 2.2%
Financial Services 85,299 88,963 85,456 91,970 94,577 93,768 8,312 9.7% 9.7%--10.6% 10.4% 11.0% 10.7%
Professional and Business Services 171,622 153,403 160,468 182,569 190,924 195,529 35,061 21.8% 19.6% 18.4% 20.0% 20.7% 22.1% 22.2%
Education and Health Services 135,734 151,626 170,862 192,141 202,647 204,935 34,073 19.9% 15.5% 18.2% 21.3% 21.7% 23.5% 23.3%
Leisure and Hospitality 69,133 72,448 71,851 81,021 58,256 63,812 -8,039 -11.2% 7.9% 8.7% 8.9% 9.2% 6.8% 7.3%
Other Services 28,269 27,223 25,163 27,355 22,351 23,203 -1,960 -7.8% 3.2% 3.3% 3.1% 3.1% 2.6% 2.6%
Public Administration 23,095 23,689 24,267 25,380 25,953 25,429 1,162 4.8% 2.6% 2.8% 3.0% 2.9% 3.0% 2.9%
Totals 874,882 833,720 803,733 883,511 862,927 879,028 75,295 9.4%
Change
TABLE E-3
COVERED EMPLOYMENT TRENDS
CITY OF EDEN PRAIRIE AND HENNEPIN COUNTY
2000, 2005, 2010, 2015, 2020, 2021
% of Total
NA: Not Assessed.
Sources: MN DEED & Maxfield Research and Consulting LLC.
City of Eden Prairie
Hennepin County Change
2010 - 2021
Average Number of Employees 2010 - 2021
% of Total
Employment and Wages
Table E-4 displays information on employment and wages in Eden Prairie and Hennepin County.
Quarterly Census of Employment and Wages (QCEW) data is sourced from Minnesota DEED for
the first quarter of 2021 and 2022, the most recent annual data available. All establishments
covered under the Unemployment Insurance (UI) Program are required to report wage and
employment statistics quarterly to DEED. Federal government establishments are also covered
by the QCEW program.
It should be noted that certain industries in the table may not display any information which
means that there is either no reported economic activity for that industry or the data has been
suppressed to protect the confidentiality of cooperating employers. This generally occurs when
there are too few employers, or one employer comprises too much of the employment in that
geography.
• As of 2022 Q1 Eden Prairie’s Financial Activities sector reported the highest weekly wage,
$3,123 or approximately $162,396 annually. The lowest average weekly wage was in the
Leisure and Hospitality sector at $505 ($26,260 annually). Many Leisure and Hospitality jobs
are part-time, so that average weekly wage does not necessarily correlate to full-time wag-
es.
EMPLOYMENT TRENDS
MAXFIELD RESEARCH & CONSULTING, LLC. 38
• Similarly to Eden Prairie, as of 2022 Q1, Hennepin County’s Financial Activities sector
reported the highest weekly wage, $3,769 ($195,988 annually) followed by the Leisure and
Hospitality sector at $606 weekly ($31,512 annually).
• The Professional and Business Services sector is the largest employment sector in Eden
Prairie, accounting for over 40% (40.6%) of jobs in the City, with an average weekly wage of
$2,903 ($150,956 annually). In comparison, in Hennepin County the Education and Health
Services sector represent the largest employment sector at 23.5% followed by the Profes-
sional and Business Services sector at 22.3%.
• Between 2022 Q1 and 2021 Q1 all but three employment sectors in Eden Prairie witnessed
employment increases. The largest percentage increase occurred in the Leisure and Hospi-
tality industry, 13.3% (341 employees) while the largest numeric growth occurred in the
Professional and Business Services sector with an increase of 422 employees (1.8%). Overall
the City of Eden Prairie increased by 1,269 employees (2.2%).
• The only industries that experienced decreases in employment between 2021 Q1 and 2022
Q2 were the Financial Activities sector (-12.0% or 578 jobs), the Information sector (-4.6% or
72 jobs), and the Other Services sector (-2.1% or 22 jobs).
• Eden Prairie’s Trade, Transportation, and Utilities sector experienced the largest propor-
tional increase in wages between Q1 2021 and Q1 2022. Wages in the City increased by
19.5%, from $1,525 in 2021 Q1to $1,822 in 2021 Q1. Overall, average weekly wages in-
creased 9.8% ($197) from $2,009 in 2021 Q1 to $2,206 as of 2022 Q1.
EMPLOYMENT TRENDS
MAXFIELD RESEARCH & CONSULTING, LLC. 39
• Average weekly wages by sector in Eden Prairie were as follows: Natural Resources and
Mining, $709; Construction, $1,690; Manufacturing, $2,033; Trade, Transportation and Utili-
ties, $1,822; Information, $1,465; Financial Activities, $3,123; Professional and Business Ser-
vices, $2,903; Education and Health Services, $953; Leisure and Hospitality, $505; Other
Services, $1,384; and Public Administration, $940.
• Across Hennepin County, average weekly wages increased by 6.1%, from $1,669 in 2021 Q1
to $1,788 in 2021 Q1. Wages increased in all industry groups in Hennepin County .
• Average weekly wages by sector in Hennepin County were as follows: Natural Resources
and Mining, $1,559; Construction, $1,807; Manufacturing, $1,741; Trade, Transportation
and Utilities, $1,450; Information, $2,430; Financial Activities, $3,769; Professional and
Business Services, $2,277; Education and Health Services, $1,183; Leisure and Hospitality,
$606; Other Services, $896; and Public Administration, $1,390
• Eden Prairie’s accessibility via Interstate 494 and US Highway 212 as well as its considerable
number of shopping and retail districts, including Eden Prairie Center, help make the leisure
and hospitality industry important to the City.
EMPLOYMENT TRENDS
MAXFIELD RESEARCH & CONSULTING, LLC. 40
Industry Establish-
ments
Employ-
ment
Weekly
Wage
Establish-
ments
Employ-
ment
Weekly
Wage
Total, All Industries 2,327 57,091 $2,009 2,441 58,360 $2,206 1,269 2.2% $197 9.8%
Natural Resources & Mining 5 16 746 5 17 709 1 6.3% -$37 -5.0%
Construction 114 1,347 1,844 117 1,502 1,690 155 11.5% -$154 -8.4%
Manufacturing 116 6,843 $1,936 120 7,144 $2,033 301 4.4% $97 5.0%
Trade, Transportation, Utilities 490 10,065 $1,525 491 10,429 $1,822 364 3.6% $297 19.5%
Information 76 1,566 $1,297 87 1,494 1,465 -72 -4.6% $168 13.0%
Financial Activities 279 4,826 $2,887 288 4,248 $3,123 -578 -12.0% $236 8.2%
Professional & Business Services 585 23,249 $2,581 631 23,671 $2,903 422 1.8% $322 12.5%
Education & Health Services 275 4,851 $946 289 5,145 $953 294 6.1% $7 0.7%
Leisure & Hospitality 169 2,569 $444 173 2,910 $505 341 13.3% $61 13.7%
Other Services 211 1,053 $1,168 233 1,031 $1,384 -22 -2.1% $216 18.5%
Public Administration 7 702 $948 7 766 $940 64 9.1%-$8 -0.8%
Total, All Industries 40,549 855,660 $1,669 43,014 884,801 $1,788 2,465 6.1% $119 7.1%
Natural Resources & Mining 90 827 $1,455 94 944 $1,559 4 4.4% $104 7.1%
Construction 2,355 28,500 $1,715 2,484 30,300 $1,807 129 5.5% $92 5.4%
Manufacturing 1,730 71,774 $1,650 1,787 74,869 $1,741 57 3.3% $91 5.5%
Trade, Transportation, Utilities 6,980 145,782 $1,326 7,153 147,841 $1,450 173 2.5% $124 9.4%
Information 1,038 18,815 $2,174 1,146 18,885 $2,430 108 10.4% $256 11.8%
Financial Activities 4,724 93,750 $3,278 4,969 91,427 $3,769 245 5.2% $491 15.0%
Professional & Business Services 8,956 195,020 $2,122 9,550 196,978 $2,277 594 6.6% $155 7.3%
Education & Health Services 6,050 205,989 $1,124 6,519 207,801 $1,183 469 7.8% $59 5.2%
Leisure & Hospitality 3,617 62,947 $532 3,769 67,260 $606 152 4.2% $74 13.9%
Other Services 4,796 23,070 $830 5,328 23,370 $896 532 11.1% $66 8.0%
Public Administration 213 25,216 $1,347 215 25,123 $1,390 2 0.9% $43 3.2%
Sources: MN DEED; Maxfield Research and Consulting LLC.
NA: Not Assessed.
Hennepin County
City of Eden Prairie
TABLE E-4
QUARTERLY CENSUS OF EMPLOYMENT AND WAGES
CITY OF EDEN PRAIRIE AND HENNEPIN COUNTY
Employment
# %
Wage
# %
Change 2021 Q1 - 2022 Q22022 Q12021 Q1
COMPETITIVE MARKET ANALYSIS
MAXFIELD RESEARCH & CONSULTING, LLC. 41
Introduction
We understand the City of Eden Prairie is considering a short-term stay, recreational uses, or
retailed-related uses on the subject Site. This section of the report examines factors related to
the aforementioned land use types that could be incorporated into the site.
Eden Prairie Area Hospitality Overview
Eden Prairie and its nearby communities is supplied with a wide variety of hotel properties that
serve the room night demand from a variety of sectors (i.e., tourism/leisure, corporate, group,
and conventions/meetings industries). The following section reviews benchmarks of the Eden
Prairie area hotel market overall.
Table CMA-1, on the following page shows an inventory of the existing Eden Prairie area hotel
properties. The Eden Prairie area has 49 properties with 6,691 rooms. Table CMA-1, on the
following page is an overview of the 49 area properties. In addition, below is a graph of the 49
properties and their number of units by decade built. As illustrated in the chart, over 54%
(54.4%) of the inventory were constructed in either the 1990s (31.3%) or 1980s (23.1%).
COMPETITIVE MARKET ANALYSIS
MAXFIELD RESEARCH & CONSULTING, LLC. 42
Zip Number
Property Month Year Address City Code of Rooms Property Type
Hampton Inn Eden Prairie Minneapolis April 2020 11825 Technology Dr Eden Prairie 55344 105 Upper Midscale
My Place Hotel Minneapolis - Shakopee February 2020 3912 12th Ave E Shakopee 55379 63 Upper Midscale
Courtyard Edina Bloomington October 2019 4460 W 78th St Cir Bloomington 55435 209 Upscale
Fairfield Inn & Suites Minneapolis Shakopee September 2019 4600 E 12th Ave Shakopee 55379 129 Upper Midscale
The Hotel Landing June 2017 925 Lake St E Wayzata 55391 92 Independent
Home2 Suites by Hilton Minneapolis Eden Prairie April 2017 6030 Clearwater Dr Minnetonka 55343 102 Upper Midscale
Hampton by Hilton Inn Minneapolis Bloomington West October 2015 5400 American Blvd W Bloomington 55437 100 Upper Midscale
Holiday Inn Express & Suites Minneapolis Southwest Shakopee May 2013 4550 12th Ave E Shakopee 55379 94 Upper Midscale
Hampton by Hilton Inn Minneapolis/Shakopee April 2010 4175 Dean Lakes Blvd Shakopee 55379 87 Upper Midscale
Hilton Minneapolis Bloomington January 2008 3900 American Blvd W Bloomington 55437 256 Luxury
Holiday Inn Express & Suites Chanhassen August 2004 7855 Century Blvd Chanhassen 55317 89 Upper Midscale
Sandalwood Suites September 2002 3910 12th Ave E Shakopee 55379 67 Independent
Hilton Garden Inn Minneapolis Bloomington June 2002 5140 American Blvd W Bloomington 55437 108 Upscale
AmericInn by Wyndham Shakopee Near Canterbury Park April 2002 4100 12th Ave E Shakopee 55379 64 Midscale
SpringHill Suites Minneapolis Eden Prairie September 2001 11552 Leona Rd Eden Prairie 55344 119 Upscale
Staybridge Suites Minneapolis-Bloomington May 2001 5150 American Blvd W Bloomington 55437 127 Upscale
Hilton Garden Inn Minneapolis Eden Prairie May 2000 6330 Point Chase Eden Prairie 55344 97 Upscale
TownePlace Suites Minneapolis Eden Prairie May 1998 11588 Leona Rd Eden Prairie 55344 103 Luxury
AmericInn Chanhassen February 1998 570 Pond Promenade Chanhassen 55317 76 Midscale
Extended Stay America Minneapolis - Eden Prairie - Technology Drive January 1998 11905 Technology Dr Eden Prairie 55344 98 Economy
Extended Stay America Minneapolis - Eden Prairie - Valley View Road January 1998 7550 Office Ridge Cir Eden Prairie 55344 104 Economy
Country Inn & Suites Minneapolis Shakopee June 1997 1204 Ramsey St Shakopee 55379 62 Upper Midscale
Mystic Lake Casino Hotel June 1997 2400 Mystic Lake Blvd Prior Lake 55372 766 Independent
Holiday Inn Express & Suites Minneapolis Minnetonka March 1997 10985 Red Cir Dr Minnetonka 55343 93 Upper Midscale
Hyatt Place Minneapolis Eden Prairie January 1997 11369 Viking Dr Eden Prairie 55344 126 Upscale
Fairfield Inn & Suites Minneapolis Eden Prairie January 1997 11325 Viking Dr Eden Prairie 55344 0 Upper Midscale
TownSquare Place Chaska January 1997 1 River Bend Pl Chaska 55318 82 Independent
RocketFuel Hotel Shakopee Inn April 1995 511 Marschall Rd S Shakopee 55379 65 Upper Midscale
Travelodge Valleyfair Shakopee October 1993 1251 1st Ave E Shakopee 55379 51 Economy
Super 8 Chaska October 1990 830 Yellow Brick Rd Chaska 55318 29 Economy
Residence Inn Minneapolis Edina October 1990 3400 Edinborough Way Edina 55435 133 Upscale
Country Inn & Suites Chanhassen August 1990 591 W 78th St Chanhassen 55317 122 Upper Midscale
Baymont Shakopee January 1990 1244 Canterbury Rd Shakopee 55379 175 Midscale
The Western Motel NA 1990 575 Flying Cloud Dr Chaska 55318 10 Independent
Sonesta Select Minneapolis Eden Prairie February 1989 11391 Viking Dr Eden Prairie 55344 149 Upscale
Marriott Minneapolis Southwest November 1988 5801 Opus Pkwy Minnetonka 55343 323 Luxury
Comfort Inn Eden Prairie Minneapolis June 1987 7740 Flying Cloud Dr Eden Prairie 55344 119 Upper Midscale
Super 8 Shakopee May 1986 581 Marschall Rd S Shakopee 55379 66 Economy
Best Western Eden Prairie Inn June 1985 11500 W 78th St Eden Prairie 55344 53 Midscale
Holiday Inn Express & Suites Bloomington Minneapolis Airport Area March 1985 7770 Johnson Ave S Bloomington 55435 159 Upper Midscale
Residence Inn Minneapolis Eden Prairie February 1985 7780 Flying Cloud Dr Eden Prairie 55344 128 Upscale
Best Western Bloomington Edina - Minneapolis June 1984 4201 American Blvd W Bloomington 55437 135 Midscale
Holiday Inn Bloomington W MSP Airport Area June 1981 5120 American Blvd W Bloomington 55437 145 Upper Midscale
Valley Inn Shakopee June 1980 1181 1st Ave E Shakopee 55379 34 Independent
La Quinta Inn & Suites by Wyndham Minneapolis Bloomington W June 1980 5151 American Blvd W Bloomington 55437 233 Upper Midscale
Valu Stay Inn June 1976 12855 Dem Con Dr Shakopee 55379 41 Independent
Sheraton Hotel Bloomington April 1975 5601 W 78th St Bloomington 55439 282 Upper Midscale
DoubleTree by Hilton Hotel Bloomington Minneapolis South September 1970 7800 Normandale Blvd Bloomington 55439 568 Upscale
Renaissance Minneapolis Bloomington Hotel July 1970 5500 American Blvd W Bloomington 55437 253 Luxury
Total Properties/Total Rooms 49 Properties 6,691
Sources: Smith Travel Research, Inc. (STR); Explore Minnesota; & Maxfield Research & Consulting, LLC.
NA: Not Assessed
TABLE CMA-1
EDEN PRAIRIE AREA HOTEL PROPERTIES
SUMMARY OF HOTEL INVENTORY
SEPTEMBER 2022
Open Date
Note Luxury refers to Upper Upscale Properties.
COMPETITIVE MARKET ANALYSIS
MAXFIELD RESEARCH & CONSULTING, LLC. 43
Existing Supply by Chain Scale
Hotel accommodations are classified into six chain scales depending on price range, amenities
and conveniences, brand name, and other factors.
These chain scales are summarized below:
• Economy/budget: Hotels in this category have the lowest average room rates per night
and provide the fewest hotel services and amenities. Hotels in this segment have no on-
premise food and beverage services. Typical brands in this segment include AmericInn,
Days Inn, Microtel Inn, Ramada Limited, and Super 8.
• Mid-Scale without Food and Beverage: Hotel chains in this segment have no on-premise
restaurants and provide only limited hotel services. Many hotel chains do however include
continental breakfast. Comfort Suites, Fairfield Inn, Holiday Inn Express, and Sleep Inn are
common brands in this market segment.
• Mid-Scale with Food and Beverage: Properties in this market segment have on-premise,
full-service restaurants and more complete hotel facilities, such as meeting rooms, banquet
space, etc. Included in this segment are Best Western, Clarion Hotel, Quality Inn, and
Doubletree.
• Extended Stay: These hotels offer accommodations that include a sitting room or work
area, bedroom, and kitchen within each guest room. Many of these properties include a
full breakfast and evening appetizers and beverages. Candlewood Suites, Residence Inn,
and Stay Bridge Suites are brand names in this segment.
• Upscale: These chains feature full-service restaurants, meeting facilities, and a complete
range of hotel services and conveniences. Crowne Plaza, Embassy Suites, Hilton, Hyatt,
Marriott, Omni, Radisson, and Westin populate the brand list of upscale chains.
• Luxury/Upper Upscale: Properties in this market segment have the highest level of guest
satisfaction and the highest room rates comparative to the other segments. Luxury
facilities feature personalized guest services and extensive amenities. Brands include
Fairmont, Four Seasons, Ritz Carleton, and St. Regis.
According to information supplied by Smith Travel Research, the market segments fit into a
pricing grid based on average room rates, from economy/budget hotels that account for the
lowest 20% of average room rates up to luxury hotels, which are at the top 15% of average
room rates. Table CMA-2 illustrates typical hotel pricing relative to other market segments.
COMPETITIVE MARKET ANALYSIS
MAXFIELD RESEARCH & CONSULTING, LLC. 44
Segment Average Room Rate Pricing
Budget Lowest 20% average room rates
Economy Next 20% average room rates
Mid-Price Middle 30% average room rates
Upscale Next 20% average room rates
Luxury Top 15% average room rates
Budget Lowest 20% average room rates
Economy Next 20% average room rates
Mid-Price Next 30% average room rates
Upscale Top 30% average room rates
TABLE CMA-2
MARKET PRICE SEGMENTS
SMITH TRAVEL RESEARCH (STR) DEFINITION
Sources: Smith Travel Research (STR) & Maxfield Research & Consulting, LLC.
Some rural areas or non-metro areas
Metro Markets
Note Luxury refers to Upper Upscale Properties.
As previously mentioned, the existing supply of hotel properties in the Eden Prairie area is
nearly 6,700 units. Of the supply, the highest proportion (83.4% or 5,577 rooms), are Limited-
service properties. Limited-service hotels generally have rooms-only operations (without food
and beverage service) and offer few other services and amenities. Most limited-service
properties are classified under the budget, economy, or mid-scale sectors. Only 16.6% of
rooms (1,114 rooms) are in Full-Service properties. Full-Service Hotels are generally mid-priced,
upscale, and luxury hotels with a restaurant, lounge, and meeting space facilities as well as
minimum service levels offering room service, bell-service, etc.
Table CMA-3 identifies the Eden Prairie area hotel supply by chain scale. As illustrated in the
table, 27.9% of the hotel inventory (1,870 rooms) ae classified as Upper Midscale while another
26.4% of the hotel inventory are classified as upscale (1,764 rooms). In addition, luxury hotels
account for 16.6% of the supply while Economy hotels account for only 5.2% of the supply.
Independent and Midscale hotels account for 16.3% and 7.5% of the supply, respectively.
Chain Scale # of Hotels Rooms Percentage of All Rooms
Economy 5 348 5.2%
Independent 7 1,092 16.3%
Midscale 5 503 7.5%
Upper Midscale 18 1,870 27.9%
Upscale 10 1,764 26.4%
Luxury 4 1,114 16.6%
Totals 49 6,691 100.0%
Sources: Smith Travel Research (STR) & Maxfield Research & Consulting, LLC.
Note Luxury refers to Upper Upscale Properties.
TABLE CMA-3
EDEN PRAIRIE AREA ROOM SUPPLY BY CHAIN
Sep-22
COMPETITIVE MARKET ANALYSIS
MAXFIELD RESEARCH & CONSULTING, LLC. 45
Eden Prairie Area Overall Performance
According to the Minneapolis South Area Submarket, which consists of various cities both south
and west of Minneapolis and St Paul (See Table CMA-4 asterisk), Table CMA-4 provides a brief
summary of key benchmarks for the local hotel market overall. Data in the table is sourced
from Costar.
Maxfield Research will present more defined hotel performance data later in this report.
The identification and analysis of a competitive set assists in analyzing performance of the
specific market niche that would be served by the subject development.
COMPETITIVE MARKET ANALYSIS
MAXFIELD RESEARCH & CONSULTING, LLC. 46
2015 2016 2017 2018 2019 2020 2021
Occupancy Rate 65.6% 65.0% 62.8% 64.8% 64.1% 39.3% 50.7%
Room Rate (ADR)$87.38 $92.54 $91.57 $94.01 $92.30 $71.87 $83.73
Revenue Per Room (RevPar)$57.33 $60.19 $57.50 $60.89 $59.18 $28.27 $42.41
2014 -'15 2015 -'16 2016 -'17 2017 -'18 2018 -'19 2019 -'20 2020 -'21
Occupancy Rate 1.9% -0.9% -3.4% 3.1% -1.0% -38.7% 28.8%
Room Rate (ADR)4.9% 5.9% -1.1% 2.7% -1.8% -22.1% 16.5%
Revenue Per Room (RevPar)6.9% 5.0% -4.5% 5.9% -2.8% -52.2% 50.0%
Source: Costar.
Year-End
Annual Change
* The Minneapolis South Area Submarket includes but is not limited to the following cities: Eden Prairie,
Chanhassen, Chaska, Burnsville, Eagan Hastings, Lakeville, Waconia, Norwood Young America, Arlington,
Gaylord, Winthrop, Gibbon Le Sueur, Henderson, Belle Plaine, New Prague, Montgomery, Le Center, and
Waterville.
TABLE CMA-4
OCCUPANCY, ROOM RATE, & REVENUE
MINNEAPOLIS SOUTH AREA SUBMARKET
2015 THROUGH 2021
COMPETITIVE MARKET ANALYSIS
MAXFIELD RESEARCH & CONSULTING, LLC. 47
Eden Prairie Area Hotels
COMPETITIVE MARKET ANALYSIS
MAXFIELD RESEARCH & CONSULTING, LLC. 48
Short-Term Stay Overview
A short-term rental (“STR”) is simply a furnished living space available for short periods of time,
from a few days to weeks on end. Most short-term stays are less than one month due to
zoning ordinances in many cities. Short-term rentals are commonly known as vacation rentals
and are considered an alternative to a hotel. Over the past decade, the sharing economy has
spiked through website portals such as VRBO, HomeAway, and Airbnb.
Over 95% of all short-term rentals are either houses, condos, townhomes, villas, or cabins. The
remaining 5% are unique properties such as house boats, lighthouses, historic structures, tents,
etc. However, shared spaces such as a bedroom in a house or apartment also represent a
small share of units.
Short-term stay guests are motivated by several factors, including: location, home-like ameni-
ties, integrating into a community, unique experiences, and more space. Price is also a huge
motivator as a STR can provide affordable options and provide more of an experience and
social interactions than a traditional hotel.
Short-term rentals have increasingly become a popular accommodation option for individuals
and families. This trend was further accelerated by the COVID-19 pandemic. Offices and retail
space saw closures and many workers turned to remote work. The ability to work remotely
prompted some individuals to rent out short term stay accommodations. Many workers in the
Midwest and Northeast flocked to warmer climates for short term stays. However, despite the
majority heading to warmer destinations others traveled to the Mountains and various other
locations. Others stayed in the State of Minnesota desiring lake homes or properties near
nature and recreational websites.
The STR industry is poised for growth; however at a lower pace than in 2021 coming out of the
pandemic. Although investors still desire acquisitions, rising mortgage rates and home costs
are slowing down acquisition from investors thereby limiting the supply of new STR options.
Together with 40-year inflation and economic headwinds for the U.S. economy, the STR indus-
try growth is expected to stay positive but not at the same pace over the past two years.
The chart on the following page, (per AirDNA - a short term stay analytics Site), shows how
short term stay rental occupancy across the US have increased since 2019 due to the COVID-19
Pandemic.
COMPETITIVE MARKET ANALYSIS
MAXFIELD RESEARCH & CONSULTING, LLC. 49
Also, indicative of the impact of the COVID-19 pandemic on short-term rentals in the US is the
below chart sourced from AirDNA and STR showing short term rentals as a percentage of total
accommodations. Below are key points.
• Prior to the COVID-19 pandemic impacting the US, short term rentals represented 10.6% of
total accommodations in June 2019 and 11.3% of total accommodations in December 2019.
Since June 2020, short term rentals as a percentage of total accommodations have repre-
sented a higher percentage than in 2019.
• Short-term rentals represented the highest percentage of total accommodations in Decem-
ber 2020 at 14.3%, followed by June 2022 at 13.3%.
COMPETITIVE MARKET ANALYSIS
MAXFIELD RESEARCH & CONSULTING, LLC. 50
Eden Prairie Rental Ordinance
Short term rentals are allowed in the City of Eden Prairie and are defined as stays of less than
30 days (long term rentals are defined as stays of 30 or more days). Both long- and short-term
rentals are required to be licensed. Section 5.72, of Eden Prairie’s city code, lays out the rental
licensing process which includes a yearly application and inspection.1
Eden Prairie Short Term Stays
This section provides a brief overview of short term stays in Eden Prairie. Data was obtained via
AirDNA.
• There are currently 18 active rentals in Eden Prairie in September 2022. Of those 18
rentals, 13 (72.0%) are homes while five (28.0%) are private rooms.
1 “Chapter 5 – Other Business Regulations and Licensing: Section 5.72. – Licensing of Rental Housing.” Eden
Prairie City Code.
https://library.municode.com/mn/eden_prairie/codes/code_of_ordinances?nodeId=CH5OTBURELI_S5.72LIREHO.
Accessed 23 Sept. 2022.
COMPETITIVE MARKET ANALYSIS
MAXFIELD RESEARCH & CONSULTING, LLC. 51
Source: AirDNA
• Eden Prairie’s average daily rent rate from AirDNA is $246 and ranged from $136 in No-
vember to $358 in June.
• The City’s current occupancy rate is 76%, ranging from 40% in February to 84% in June.
• Of all rental listings in Eden Prairie, 66% were posted on Airbnb, 17% were posted on
VRBO, and 17% were posted on both sites.
Source: AirDNA
COMPETITIVE MARKET ANALYSIS
MAXFIELD RESEARCH & CONSULTING, LLC. 52
• The majority of short-term rentals in Eden Prairie have the following amenities: air con-
ditioning, heating, washer/dryer, kitchen, parking, and internet. Only 4% had a pool on-
site.
Source: AirDNA
Riley-Jacques Barn
Near the Site, and within Riley Lake Park, is the Riley-Jacques Barn. The barn is available to rent
for either $90 an hour with a minimum of 4 hours or for $850 dollars for the day. Inside the
barn, which has a capacity of 120 people, there are bathrooms, a stage, and the barn is wheel-
chair accessible.2 The facility is seasonal and available for rent between the months of May to
October.
Consumer Expenditure Patterns
The following two tables and graphs show consumer expenditures on retail goods and services
in the PMA and Eden Prairie for 2022, according to data obtained from ESRI based on Consumer
Expenditure Surveys from the Bureau of Labor Statistics. The table shows the average expendi-
tures per household and the amount spent in the Trade Area by product or service. In addition,
a Spending Potential Index (SPI) is illustrated for comparison purposes. The SPI is based on
households and represents the amount spent for a product or service relative to the national
2 “Rent a Park Facility: Riley-Jacques Barn.” City of Eden Prairie.
https://www.edenprairie.org/Home/Components/FacilityDirectory/FacilityDirectory/110/3293. Accessed 27 Sept.
2022.
COMPETITIVE MARKET ANALYSIS
MAXFIELD RESEARCH & CONSULTING, LLC. 53
average of 100. An SPI of 115 shows that the average annual expenditure by local consumers is
15% above the national average. The average expenditure reflects the average amount spent
per household, while the total expenditure reflects the aggregate amount spent by all house-
holds in the area.
Consumer spending is influenced by market conditions and trends. In times of economic
troubles, market conditions drive spending patterns, whereas in times of a booming economy
consumer trends feature opportunity and convenience. Two-thirds of the national economy is
driven by consumer spending.
PMA
• In all spending categories, the SPI for the PMA was greater than the SPI for the Twin Cities
Metro.
• Spending in the Investments category was the largest average annual expenditure per
household. Annually, PMA households spend $55,229 on investments, which is higher than
the annual per household spending on investments in the Twin Cities Metro, $37,657.
• Spending in the Home Mortgage Payment/Rent category was the second largest average
annual expenditure per household in the PMA. Annually, PMA households spend $21,154
on investments, which is higher than the annual per household spending on Home Mort-
gage Payment/Rent in the Twin Cities Metro, $14,264.
• Investments reported the highest SPI (178) in the PMA.
COMPETITIVE MARKET ANALYSIS
MAXFIELD RESEARCH & CONSULTING, LLC. 54
Twin Cities
Expenditures
Total Average Average Twin Cities
Category ($000's)Per HH Per HH PMA Metro
Goods & Services Index Index
Apparel & Services $90,946 $4,009 $2,882 166 120
Entertainment and Recreation $136,197 $6,004 $4,296 164 117
Nonprescription Drugs $6,041 $266 $197 151 112
Prescription Drugs $12,793 $564 $419 149 111
Eye Glasses & Contact Lenses $4,002 $176 $127 160 116
Personal Care Products $20,874 $920 $667 163 118
Child Care $25,470 $1,123 $753 160 116
School Books & Supplies $5,560 $245 $177 165 119
Smoking Products $13,746 $606 $483 139 111
Computer Hardware $7,308 $322 $229 169 120
Computer Software $412 $18 $13 166 123
Pets $29,336 $1,293 $928 156 112
Food Index Index
Food at Home $224,277 $9,887 $7,219 160 117
Food Away from Home $162,075 $7,145 $7,145 166 119
Alcoholic Beverages $27,407 $1,208 $1,208 170 120
Home Index Index
Home Mortgage Payment/Rent $479,876 $21,154 $14,264 175 118
Maintenance & Remodeling Services $127,411 $5,617 $3,803 172 116
Maintenance & Remodeling Materials $25,813 $1,138 $774 162 110
Utilities $200,737 $8,849 $6,522 156 115
Household Furnishings, Equipment, & Operations Index Index
Household Textiles $4,310 $190 $137 165 119
Furniture $27,568 $1,215 $869 168 120
Major Appliances $16,321 $719 $503 168 117
Small Appliances $2,179 $96 $71 161 118
Housewares $3,783 $167 $119 167 119
Luggage $742 $33 $23 172 122
Telephone & Accessories $4,346 $192 $137 168 121
Lawn & Garden $20,989 $925 $643 162 113
Moving/Storage/Freight Express $3,011 $133 $98 164 121
Housekeeping Supplies $32,158 $1,418 $1,026 160 116
Financial & Insurance Index Index
Investments $1,252,862 $55,229 $37,657 178 121
Vehicle Loans $122,580 $5,404 $3,882 166 120
Owners & Renters Insurance $25,822 $1,138 $799 160 112
Vehicle Insurance $76,577 $3,376 $2,482 159 117
Life/Other Insurance $25,980 $1,145 $793 167 116
Health Insurance $169,018 $7,451 $5,406 159 115
TABLE CMA-5
ESTIMATED HOUSEHOLD EXPENDITURES BY SELECTED PRODUCT TYPE
PMA & SEVEN COUNTY METRO AREA
2022
PMA Annual Expenditures Spending Potential Index
to USA
CONTINUED
COMPETITIVE MARKET ANALYSIS
MAXFIELD RESEARCH & CONSULTING, LLC. 55
Twin Cities
Expenditures
Total Average A verage
Category ($000's)Per HH Per HH PMA Metro
Transportation Index Index
Cars and Trucks (Net Outlay)$110,359 $4,865 $3,458 164 117
Gasoline and Motor Oil $97,992 $4,320 $3,157 158 115
Vehicle Maintenance/Repair $45,906 $2,024 $1,477 161 117
Travel Index Index
Airline Fares $28,409 $1,252 $871 175 122
Lodging $31,709 $1,398 $962 173 119
Average Annual Household Expenditures Summary
Goods & Services $352,686 $14,254 $10,245
Food $413,759 $18,239 $15,572
Home $833,837 $36,757 $25,363
Household $115,406 $5,087 $3,626
Financial and Insurance $1,672,839 $73,742 $51,020
Transportation $254,257 $11,208 $8,092
Travel $60,118 $2,650 $1,833
Total $3,702,902 $161,938 $115,751
ESTIMATED HOUSEHOLD EXPENDITURES BY SELECTED PRODUCT TYPE
PMA & SEVEN COUNTY METRO AREA
2022
Spending Potential Index
to USA
TABLE CMA-5 CONTINUED
PMA Annual Expenditures
Note: The Spending Potential Index is based on households and represents the amount spent for a product or
s ervice relative to the national average of 100.
Sources: ESRI & Maxfield Research & Consulting, LLC.
Eden Prairie
• In all spending categories, the SPI for the PMA was greater than the SPI for the Twin Cities
Metro.
• Spending in the Investments category was the largest average annual expenditure per
household. Annually, PMA households spend $53,808 on investments, which is higher than
the annual per household spending on investments in the Twin Cities Metro, $37,657.
• Spending in the Home Mortgage Payment/Rent category was the second largest average
annual expenditure per household in the PMA. Annually, PMA households spend $20,512
on investments, which is higher than the annual per household spending on Home Mort-
gage Payment/Rent in the Twin Cities Metro, $14,264.
• Investments reported the highest SPI (173) in the PMA.
COMPETITIVE MARKET ANALYSIS
MAXFIELD RESEARCH & CONSULTING, LLC. 56
COMPETITIVE MARKET ANALYSIS
MAXFIELD RESEARCH & CONSULTING, LLC. 57
Twin Cities
Expenditures
Total Average A verage Twin Cities
Category ($000's)Per HH Per HH PMA Metro
Goods & Services Index Index
Apparel & Services $99,583 $3,929 $2,882 163 120
Entertainment and Recreation $148,890 $5,874 $4,296 160 117
Nonprescription Drugs $6,594 $260 $197 148 112
Prescription Drugs $13,960 $551 $419 145 111
Eye Glasses & Contact Lenses $4,377 $173 $127 157 116
Personal Care Products $22,855 $902 $667 159 118
Child Care $27,633 $1,090 $753 156 116
School Books & Supplies $6,097 $241 $177 162 119
Smoking Products $15,158 $598 $483 137 111
Computer Hardware $8,024 $317 $229 166 120
Computer Software $457 $18 $13 165 123
Pets $31,990 $1,262 $928 152 112
Food Index Index
Food at Home $245,654 $9,691 $7,219 157 117
Food Away from Home $177,252 $6,993 $6,993 162 119
Alcoholic Beverages $30,075 $1,186 $1,186 167 120
Home Index Index
Home Mortgage Payment/Rent $519,930 $20,512 $14,264 169 118
Maintenance & Remodeling Services $138,252 $5,454 $3,803 167 116
Maintenance & Remodeling Materials $27,721 $1,094 $774 156 110
Utilities $219,841 $8,673 $6,522 153 115
Household Furnishings, Equipment, & Operations Index Index
Household Textiles $4,732 $187 $137 162 119
Furniture $30,170 $1,190 $869 164 120
Major Appliances $17,708 $699 $503 163 117
Small Appliances $2,391 $94 $71 158 118
Housewares $4,140 $163 $119 163 119
Luggage $813 $32 $23 169 122
Telephone & Accessories $4,767 $188 $137 165 121
Lawn & Garden $22,793 $899 $643 158 113
Moving/Storage/Freight Express $3,309 $131 $98 161 121
Housekeeping Supplies $35,113 $1,385 $1,026 156 116
Financial & Insurance Index Index
Investments $1,363,933 $53,808 $37,657 173 121
Vehicle Loans $133,435 $5,264 $3,882 162 120
Owners & Renters Insurance $27,903 $1,101 $799 155 112
Vehicle Insurance $83,874 $3,309 $2,482 156 117
Life/Other Insurance $28,241 $1,114 $793 163 116
Health Insurance $184,640 $7,284 $5,406 155 115
TABLE D-6
ESTIMATED HOUSEHOLD EXPENDITURES BY SELECTED PRODUCT TYPE
EDEN PRAIRIE & SEVEN COUNTY METRO AREA
2022
EP Annual Expenditures Spending Potential Index
to USA
CONTINUED
COMPETITIVE MARKET ANALYSIS
MAXFIELD RESEARCH & CONSULTING, LLC. 58
Twin Cities
Expenditures
Total Average A verage
Category ($000's)Per HH Per HH PMA Metro
Transportation Index Index
Cars and Trucks (Net Outlay)$119,823 $4,727 $3,458 160 117
Gasoline and Motor Oil $107,114 $4,226 $3,157 154 115
Vehicle Maintenance/Repair $50,231 $1,982 $1,477 157 117
Travel Index Index
Airline Fares $31,122 $1,228 $871 172 122
Lodging $34,644 $1,367 $962 170 119
Average Annual Household Expenditures Summary
Goods & Services $385,619 $13,951 $10,245
Food $452,981 $17,871 $15,399
Home $905,744 $35,732 $25,363
Household $125,937 $4,968 $3,626
Financial and Insurance $1,822,026 $71,880 $51,020
Transportation $277,168 $10,935 $8,092
Travel $65,766 $2,595 $1,833
Total $4,035,241 $157,932 $115,578
ESTIMATED HOUSEHOLD EXPENDITURES BY SELECTED PRODUCT TYPE
EDEN PRAIRIE & SEVEN COUNTY METRO AREA
2022
Spending Potential Index
to USA
TABLE D-6 CONTINUED
EP Annual Expenditures
Note: The Spending Potential Index is based on households and represents the amount spent for a product or
s ervice relative to the national average of 100.
Sources: ESRI & Maxfield Research & Consulting, LLC.
Retail Demand Potential and Leakage
Table CMA-6 presents retail sales for Eden Prairie in 2021, the most recent year available. The
sales information is from ESRI based on household counts from the U.S. Census Bureau. This
information lists retail demand (potential sales), retail supply to consumers (retail sales) and
provides a picture of the gap between the area’s retail supply and demand. A positive value
represents “leakage” of retail opportunity to stores outside of the submarket, while a negative
value represents a surplus of retail sales, where customers are drawn to area retailers from
outside the submarket. Eden Prairie is a destination for retail goods and services with the Eden
Prairie Center and numerous big box retailers, hence the draw area for retail goods encom-
passes a much larger trade area than Eden Prairie proper. The following are key points of the
retail demand potential.
COMPETITIVE MARKET ANALYSIS
MAXFIELD RESEARCH & CONSULTING, LLC. 59
Eden Prairie
• The Surplus/Leakage measures the relationship between supply and demand. A leakage
factor of 100 would indicate a total leakage of sales outside the submarket. Total Retail
Trade and Food and Drink in Eden Prairie reported a leakage factor of 17.1. Leakages were
highest in the Nonstore Retailers (95.3), Electronics and Appliance (36.4), and Sporting
Goods, Hobby, Book, and Music Stores.
• Gasoline Stations and Furniture and Furnishings reported the greatest surplus factors, 47.5
and 31.5, respectively.
• Collectively, there is a surplus of retail in the City of Eden Prairie. However, given the retail
destination of Eden Prairie this is expected as many retailers are destinations and draw from
a large trade area in the southwest Metro Area.
COMPETITIVE MARKET ANALYSIS
MAXFIELD RESEARCH & CONSULTING, LLC. 60
Demand Supply Retail Gap Surplus/Leakage Number of
Industry Group (NAICS Code)(Retail Potential) (Retail Sales)(Demand - Supply)Factor Businesses
Total Retail Trade and Food & Drink (NAICS 44-45, 722)$1,572,948,730 $2,222,561,756 -$649,613,026 (17.1)495
Total Retail Trade (NAICS 44-45)$1,415,045,914 $2,085,303,701 -$670,257,787 (19.1)356
Total Food & Drink (NAICS 722)$157,902,816 $137,258,055 $20,644,761 7.0 139
Motor Vehicle & Parts Dealers $294,129,980 $184,126,980 $110,003,000 23.0 36
Automobile Dealers $235,015,754 $137,782,794 $97,232,960 26.1 13
Other Motor Vehicle Dealers $33,379,470 $28,911,677 $4,467,793 7.2 7
Auto Parts, Accessories & Tire Stores $25,734,756 $17,432,509 $8,302,247 19.2 16
Furniture & Home Furnishings Stores $46,359,860 $24,149,929 $22,209,931 31.5 21
Furniture Stores $27,627,712 $13,574,985 $14,052,727 34.1 11
Home Furnishings Stores $18,732,148 $10,574,944 $8,157,204 27.8 10
Electronics & Appliance Stores $53,180,294 $114,013,188 ($60,832,894)(36.4)41
Bldg Materials, Garden Equip. & Supply Stores $103,350,526 $64,984,377 $38,366,149 22.8 26
Bldg Material & Supplies Dealers $93,433,354 $63,942,650 $29,490,704 18.7 23
Lawn & Garden Equip & Supply Stores $9,917,172 $1,041,727 $8,875,445 81.0 3
Food & Beverage Stores $221,033,706 $124,612,695 $96,421,011 27.9 25
Grocery Stores $181,472,742 $111,179,283 $70,293,459 24.0 13
Specialty Food Stores $11,217,163 $3,110,257 $8,106,906 56.6 8
Beer, Wine & Liquor Stores $28,343,801 $10,323,155 $18,020,646 46.6 4
Health & Personal Care Stores $96,638,706 $68,330,095 $28,308,611 17.2 32
Gasoline Stations $151,199,840 $53,750,087 $97,449,753 47.5 14
Clothing & Clothing Accessories Stores $78,135,390 $83,728,214 ($5,592,824)(3.5)52
Clothing Stores $52,783,712 $65,054,186 ($12,270,474)(10.4)38
Shoe Stores $11,171,832 $7,369,458 $3,802,374 20.5 5
Jewelry, Luggage & Leather Goods Stores $14,179,846 $11,304,570 $2,875,276 11.3 9
Sporting Goods, Hobby, Book & Music Stores $44,309,348 $65,600,227 ($21,290,879)(19.4)33
Sporting Goods/Hobby/Musical Instr Stores $38,520,335 $58,058,190 ($19,537,855)(20.2)26
Book, Periodical & Music Stores $5,789,013 $7,542,037 ($1,753,024)(13.1)7
General Merchandise Stores $249,760,499 $305,142,858 ($55,382,359)(10.0)19
Department Stores Excluding Leased Depts.$188,142,681 $146,587,800 $41,554,881 12.4 8
Other General Merchandise Stores $61,617,818 $158,555,058 ($96,937,240)(44.0)11
Miscellaneous Store Retailers $53,906,875 $43,187,504 $10,719,371 11.0 44
Florists $3,253,032 $7,915,426 ($4,662,394)(41.7)4
Office Supplies, Stationary & Gift Stores $11,449,458 $4,859,387 $6,590,071 40.4 7
Used Merchandise Stores $7,102,688 $4,071,980 $3,030,708 27.1 10
Other Miscellaneous Store Retailers $32,101,697 $26,340,711 $5,760,986 9.9 23
Nonstore Retailers $23,040,890 $953,677,547 ($930,636,657)(95.3)13
Electronic Shopping & Mail-Order Houses $18,099,265 $953,578,066 ($935,478,801)(96.3)12
Vending Machine Operators $1,028,179 $0 $1,028,179 100.0 0
Direct Selling Establishments $3,913,446 $99,481 $3,813,965 95.0 1
Food Services & Drinking Places $157,902,816 $137,258,055 $20,644,761 7.0 139
Special Food Services $3,997,676 $1,211,211 $2,786,465 53.5 3
Drinking Places - Alcoholic Beverages $9,490,231 $0 $9,490,231 100.0 0
Restaurants/Other Eating Places $144,414,909 $136,046,844 $8,368,065 3.0 136
0
Sources: ESRI; Maxfield Research & Consulting, LLC.
TABLE CMA-7
EXPENDITURE TYPE
Note: All figures quoted in 2021 dollars (2022 Data is not Available). Supply (retail sales ) estimates sales to consumers by establishments, sales
to businesses are excluded. Demand (retail potential) estimates the expected amout spent by consumers at a retail establishment.
Leakage/Surplace factor measures the relationship between supply and demand and ranges from +100 (total leakage) to -100 (total surplus). A
positive value represents "leakage" of retail opportunity outside the trade area. A negative value represents a surplus of retail sales, a market
where customers are drawn in from outside the trade area.
SUMMARY
2021
RETAIL DEMAND POTENTIAL AND LEAKAGE
CITY OF EDEN PRAIRIE
COMPETITIVE MARKET ANALYSIS
MAXFIELD RESEARCH & CONSULTING, LLC. 61
Sports/Leisure Activity/Behavior of Those 18+
Table CMA-8, on the following page, presents a select group of sports and leisure activities and
behaviors for people 18 and older. The data was obtained via ESRI for the PMA, Eden Prairie,
and Seven County Metro Area. Data is helpful in considering if a particular civic use would be
feasible on the subject Site.
• The top ten sports and leisure activities and behaviors for people 18 and older are the
following:
1. Attended a movie in last 6 months (52.6%)
2. Participated in Walking for Exercise in last 12 months (36.2%)
3. Participated in Swimming in last 12 months (19.3%)
4. Participated in weight lifting in last 12 months (16.3%)
5. Went to Museum in Last 12 months (16.2%)
6. Attend Sports Event (15.%)
7. Participated in jogging/running in last 12 months (14.9%)
8. Participate in indoor gardening or plant care (14.2%)
9. Participated in yoga in last 12 months (13.3%)
10. Went to live theater in last 12 months (13.2%)
• Of the ten largest activities/and behaviors in the PMA, 60% (6 activities/behaviors) are
exercise related.
• Similar to the PMA, in both Eden Prairie and the Seven County Metro Area, attending a
movie in last 6 months, participating in walking for exercise in last 12 months, and partici-
pated in swimming in last 12 months
• However, different from Eden Prairie and the Seven County Metro Area, the fourth largest
activity/behavior in both geographies is went to museum in last 12 months, followed by
participated in weight lifting in last 12 months.
COMPETITIVE MARKET ANALYSIS
MAXFIELD RESEARCH & CONSULTING, LLC. 62
Type of Activity/Behavior # of People 18+ % of People 18+ # of People 18+ % of People 18+ # of People 18+ % of People 18+
Participated in Aerobics in Last 12 Months 4,678 10.4%5,256 10.4%228,703 9.1%
Participated in Boating (power) in Last 12 Months 2,784 6.2%3,048 6.0%135,412 5.4%
Participated in Canoeing/Kayaking in Last 12 Months 3,904 8.7%4,590 9.1%205,662 8.2%
Participated in Fishing (fresh water) in Last 12 Months 4,627 10.3%5,214 10.3%252,932 10.1%
Participated in Frisbee in Last 12 Months 2,020 4.5%2,291 4.5%101,515 4.0%
Participated in Golf in Last 12 Months 4,692 10.4%5,303 10.5%227,033 9.1%
Participated in Horseback Riding in Last 12 Months 961 2.1%1,098 2.2%50,671 2.0%
Participated in Ice Skating in Last 12 Months 1,446 3.2%1,652 3.3%68,053 2.7%
Participated in Jogging/Running in Last 12 Months 6,707 14.9%7,562 15.0%323,571 12.9%
Participated in Rock Climbing in Last 12 Months 932 2.1%1,131 2.2%47,004 1.9%
Participated in Roller Skating in Last 12 Months 756 1.7%827 1.6%40,376 1.6%
Participated in Soccer in Last 12 Months 1,860 4.1%2,089 4.1%105,381 4.2%
Participated in Softball in Last 12 Months 889 2.0%966 1.9%47,965 1.9%
Participated in Swimming in Last 12 Months 8,691 19.3%9,744 19.3%434,826 17.3%
Participated in Tennis in Last 12 Months 2,321 5.2%2,606 5.2%110,957 4.4%
Participated in Volleyball in Last 12 Months 1,237 2.7%1,485 2.9%69,157 2.8%
Participated in Walking for Exercise in Last 12 Months 16,269 36.2%18,173 36.0%837,867 33.4%
Participated in Weight Lifting in Last 12 Months 7,336 16.3%8,207 16.2%363,423 14.5%
Participated in Yoga in Last 12 Months 5,974 13.3%6,821 13.5%297,556 11.9%
Attend Sports Event 7,154 15.9%8,053 15.9%357,789 14.3%
Interest in Sports: Golf Super Fan 802 1.8%906 1.8%44,787 1.8%
Member of Veterans Club 963 2.1%1,112 2.2%58,374 2.3%
Participate in Indoor Gardening or Plant Care 6,385 14.2%7,238 14.3%346,844 13.8%
Went to Art Gallery in Last 12 Months 3,570 7.9%4,120 8.2%198,162 7.9%
Danced/Went Dancing in Last 12 Months 3,651 8.1%4,144 8.2%205,675 8.2%
Attended Dance Performance in Last 12 Months 1,565 3.5%1,783 3.5%84,597 3.4%
Attended a Movie in Last 6 Months 23,671 52.6%26,620 52.7% 1,277,947 51.0%
Went to Museum in Last 12 Months 7,282 16.2%8,266 16.4%367,432 14.7%
Attended Classical Music/Opera Performance in Last 12 Months 1,849 4.1%2,053 4.1%94,144 3.8%
Attended Country Music Performance in Last 12 Months 2,421 5.4%2,803 5.5%130,855 5.2%
Attended Rock Music Performance in Last 12 Months 4,473 9.9%5,124 10.1%229,736 9.2%
Played Musical Instrument in Last 12 Months 4,180 9.3%4,764 9.4%217,526 8.7%
Went to Live Theater in Last 12 Months 5,930 13.2%6,593 13.0%290,071 11.6%
Visited an Indoor Water Park in Last 12 Months 1,257 2.8%1,447 2.9%63,691 2.5%
Population 18+44,984 50,545 2,506,764
Sources: ESRI; Maxfield Research & Consulting, LLC.
TABLE CMA-8
2022
SPORTS/LEISURE ACTIVITY/BEHAVIOR OF THOSE 18+
PMA, CITY OF EDEN PRAIRIE, & SEVEN COUNTY METRO AREA
PMA Eden Prairie Seven County Metro Area
Note: Percentages don’t add up to 100% due to being counted in multiple categories.
COMPETITIVE MARKET ANALYSIS
MAXFIELD RESEARCH & CONSULTING, LLC. 63
RECOMMENDATIONS
MAXFIELD RESEARCH & CONSULTING, LLC. 64
Site Recommendations
Table REC-1 below provides a matrix of possible uses for the Dorenkemper House and adjacent
vacant land. Uses are divided into the following categories: commercial real estate, civic uses,
and shelter-related services.
Commercial Real Estate Low Medium High Notes
Restaurant X
Coffee Shop X
General Retail X
Personal Services X
Professional Services X
Seasonal Ice Cream Parlour/Seasonal Use x Seasonal use best potential among commercial uses
Industrial Related x
Office X
Possible Civic Use for Site Low Medium High Notes
Mini Golf Course X (Example: Big Stone Mini Golf in Minnetrista)
Chip and Putt Golf Course X
Golf Driving Range X Potential use; but land constrained
Public Pool/Lazy River X
Splash Pad X
Outdoor Fitness Court X National Fitness Campaign - Fitness Court
Outdoor Ice Rink X
Ice Skating Lazy River Concept X (example: Maple Grove Central Park)
Pavilion X
Walking Path/Trails X
Pickleball Courts X High demand and growing sport.
Sand Volleyball Courts X
Amphitheater for Concerts/Performances X Space permitting, seasonal use
Water Sports Rental X Rentals for any recreational use in park.
Garden with Walking Trail X (Example: Noerenberg Gardens or Munsinger Gardens)
Musuem X (Example: Cahill School in Edina)
Art Gallery X Climate control challenging in historic structure
Veterans Memorial/Park X
Playground X
Farmers Market X
Batting Cages X Synergy with ball fields
Community/Town Ball Baseball Field with Bleachers X Lack of real estate
Running Track X
Disc Golf Course X Limited due to site size
Lacrosse Field X
Skate Park X
Yoga Space X
Grass or Clay Tennis Court X Most courts in area are hard courts.
Mini soccer field with boards X
Fire Pit X
Climbing Wall/Specialized Playground X
Basketball/Multi Use Sport Court X
Historical Farmstead X See Living History Farms in Urbandale, Iowa.
Dog Park X Near Crestwood Park Dog Park.
Lawn Games Area X Croquet, bags, lawn bowling, horseshoe pit, etc.
Outdoor Event Space X In coordination with Riley-Jacques Barn.
Possible Housing/Hospitality Uses Low Medium High Notes
Short-Term Rental with no Renovations X Challenging w/o building improvements
Short-Term Rental Renovations X Central Air and Wifi required, seasonal
Apartment Rental X
Bed and Breakfast X Potential, but small footprint and
Sell the Asset X Non-profit, etc.
Priority
Priority
TABLE REC-1
POSSIBILITES MATRIX FOR DORNKEMPER HOUSE & VACANT LAND
Source: Maxfield Research and Consulting, LLC.
RECOMMENDATIONS
MAXFIELD RESEARCH & CONSULTING, LLC. 65
Maxfield Research recommends land uses that complement the adjacent park amenities while
also providing a transitory buffer to residential land uses to the north of Riley Lake road. Low
traffic counts together with lower-density residential adjacent to the site impacts many com-
mercial uses from relocating to the site. Finally, the parking situation disqualifies several
possible land use types as larger events and businesses with transient consumers will find the
site challenging.
Vacant Land
Based on the proximity and other uses in Riley Park, we recommend a civic-related use on the
vacant site. The site is a buffer land use to residential uses and could accommodate any num-
ber of recreational amenities on the property. Table Rec 1 outlined several uses; however
Maxfield Research recommends the following uses should be explored (In no particular order):
• Mini Golf Course
• Outdoor Fitness Court
• Outdoor Ice Rink
• Ice Skating Lazy River Concept
• Amphitheater for Concerts/Performances
• Outdoor Event Space
Dorenkemper House
The Dorenkemper house is challenging piece of real estate to re-purpose if that is the desire of
the City. Regardless of the use, the city will be required to invest in further improvements to
develop a product that meets building code standards while meeting a functional use for the
end user or consumer. Maxfield Research finds several scenarios that could play out for the
subject site:
• Maintain asset “As Is” and provide more educational opportunities at the site (i.e.,
school tours, groups, etc.)
• Convert the property into a year-round apartment rental. This option will require con-
tinued improvements to meet building codes and the wants/needs of tenants.
• Consider a short-term rental. Again, this will require property investment and the ROI
will be low vs. the capital expenditures.
• Seasonal retail use (i.e., ice-cream shop, rental shop for outdoor gear at the park, etc.).
This scenario also requires capital improvements. However, it will not be targeting resi-
dential uses.
We find most of the scenarios challenging and require significant expenses that will not have a
positive ROI to the city. As a result, a civic use in some capacity will have the lowest capital
investment. At the same time, the use of the vacant land into a new civic use will result in new
synergies and pedestrian traffic that will benefit the Dorenkemper house.
RECOMMENDATIONS
MAXFIELD RESEARCH & CONSULTING, LLC. 66
This market assessment was intended to provide a high-level assessment of market trends
and the potential to maximize opportunities on the Dorenkemper house and adjacent vacant
land. Maxfield Research recommends completing a more thorough analysis that will provide
detailed market information and project specific recommendations and concepts (i.e., prod-
uct types, units and square footage, pricing, absorption, marketing, etc.).