FOUNDATIONS NEWSLTR JANUARY by Rochester Area Builders, Inc.

JAN 2024

1 | FOUNDATIONS NEWSLTR

ROCHESTER AREA BUILDERS, INC.

Happy Holidays

2 | JANUARY 2024

STAFF

Patrick Sexton, Executive Director Pat@RochesterAreaBuilders.com Shelly Bahlmann, Publications & Special Events Director Shelly@RochesterAreaBuilders.com Golf Outing, Sporting Clays, Home Show, Newsletter, Showcase Magazine, RAB Update, Member Plus App & RAB Events App & Website Mike Peck, Member & Community Engagement Director Mike@RochesterAreaBuilders.com Ambassadors, Awards, Builders, Bags & Brews, Commercial Builders Council, Community Relations, Membership, Program, Remodelers Council, Remodelers Tour & 40 Below Amber Luhmann, Planroom Director Amber@RochesterAreaBuilders.com Builders Exchange Trustees, Education, & Showcase of Homes

DIRECTORS

Jeremy Moe, Boldt Company TBD Jarett Jones, Merchants Bank Aaron Thompson, The Design Connection Kaleb Stevens, Weis Builders Kelsey Vaszily, Kraus-Anderson Construction Melissa Barbour, TLS Companies, LLC Joe West, Valor Mechanical Julie Herrera-Lemler, Rochester Area Economic Development, Inc. (RAEDI) / SBDC

BUILDERS EXCHANGE COUNCIL CHAIR Niki Birkholz, Palmer Soderberg, Inc.

COMMERCIAL BUILDERS COUNCIL CHAIR Keith Kranz, LVC Companies

DEVELOPMENT COUNCIL CHAIR TBD

REMODELERS COUNCIL CHAIR

Adam Galligher, Elias Construction

40 BELOW CHAIR

Dylan Musgherd, ISG

BOARD OF DIRECTORS PRESIDENT

Adam Giannini, Knutson Construction

VICE PRESIDENT

Austin Ryan, Ryan Windows & Siding

SECRETARY TBD

TREASURER TBD

PAST PRESIDENT

Jason Scrimshaw, Kimley-Horn & Associates, Inc.

NATIONAL LIFE DIRECTORS

Steve Buss, Cornerstone Builders & Real Estate, Inc.

NATIONAL DIRECTORS

Dana Hlebichuk, Widseth Levi Kaiser, Benike Construction (Rep) Todd Severson, TLS Companies, LLC

STATE DIRECTORS

Mike Allen, Mike Allen Homes, LLC Jay Burke, Heartwood Homes Jean DeWitz, DeWitz Home Builders, Inc. Kathy Einck, Maplewood Homes, LLC (Rep) John McGuine, JM Consulting John Eckerman, RSP Architects Kenneth Bush, Bush Companies

MISSION STATEMENT The Rochester Area Builders, Inc, chartered in 1953, is a professional organization of commercial & residential builders, remodelers, developers and associated businesses dedicated to advancing the building industry in Southeast Minnesota. We are the trusted voice of the industry, providing leadership, education, networking, and information resources to our members, community and government officials.

3 | FOUNDATIONS NEWSLTR

TABLE OF CONTENTS 02

Staff and Board of Directors

RAB Yearly Calendar at a glance

RAB January Calendar

Welcome New Members

40 Below Bell Ringing

January GMM

Holiday Party Recap

Continuing Education Classes

Falling Interest Rates Eye on Housing

Surge on Falling Interest Rates Eye on Housing

Lower Rates in 2024 Eye on Housing

18-19 Permits

MAYO CLINIC - UNBOUND On Tuesday, Mayo Clinic publicly announced the details of their Bold. Forward. Unbound. initiative, a $5 billion building project to reshape how health care is delivered. It will also reshape downtown Rochester, dramatically changing the area immediately west of Gonda as the graphics attached show. Managed by Gilbane, the centerpiece will be a new building on the site of the current Ozmun Building. The Post Bulletin has an informative article. While this is a new and exciting project, the other work (remodeling office space, building houses, etc.) in Rochester and the surrounding area must continue as well. In the weeks and months ahead, RAB will be meeting with Mayo Clinic and Gilbane to discuss what role our members might play in helping to deliver this generational project.

Unbound Frequently Asked Questions

4 | JANUARY 2024

FROM THE PRESIDENT event. We both joke that RAB is both a great professional organization, and a matchmaking service. We share our home with a calm, yet spunky, lazy, yet never worn out, Siberian Husky named Ghost. Outside of the construction world, you’ll find me enjoying a round of golf, hitting fresh powder on the ski slopes, and spending quality time outdoors or at our family’s cabin.

ADAM GIANNINI President Rochester Area Builders Happy Holidays! I hope this message finds you well and ready for the fantastic year ahead. As we kick off 2024, I am honored to introduce myself as the incoming President of the board of directors for Rochester Area Builders Association. My name is Adam Giannini, and I am thrilled to take on this role, working alongside all of you to continue the success and growth of our esteemed association. I work at Knutson Construction, where I manage various roles on projects like the Anne Marie and Stephen Kellen Building and the Anderson Proton Therapy Expansion Project for Mayo Clinic. I studied Civil Engineering with a structural and geotechnical focus at the University of Minnesota-Duluth. While at UMD, I joined the Minnesota Army National Guard, where I served as a carpentry and masonry specialist. During my 9 years of service, I had multiple activations within the United States and overseas deployments to Croatia, Qatar, Kuwait, and Afghanistan. I am in year two of a happy marriage to former RAB President (2020), Alissa Moe. Alissa and I met at a 40 Below Young Professionals networking

Ok, that’s enough about me. Let’s dive into some exciting updates and opportunities happening within the RAB community! Car Event Committee Members Needed – Join the Drive! We’re revving up for an exciting year of events, and we need your expertise! A new initiative for RAB this year, the Car Event Committee is looking for enthusiastic members to contribute their skills and ideas. If you’re interested in helping out with this event, please reach out to Shelly for more information. Thanks to 40 Below Young Professionals Group! A huge shoutout and heartfelt thanks to the 40 Below group for their outstanding support during the holiday season. Their dedication to bell ringing with the Salvation Army truly made a positive impact in our community. Home Show Booth Reservations – Act Fast! The excitement is building, and so is the demand for Home Show booth reservations. Don’t miss out on this excellent opportunity to showcase your business. Spaces are filling up quickly, so book yours today to ensure your spot at the premier event in the homebuilding industry. Cheers to a Magical Holiday Party! Our recent Holiday Party was a night filled with laughter and amazement. Thank you to the incredible performance by comedian and magician, Gayle Becwar, AND the

audience participants that made the show a success. I am still wondering how those 3 playing cards went from Judy’s envelope to Alissa’s envelope! A sincere thank you to all who attended; your presence made the evening truly special. Let’s carry this positive energy into the new year! Get Involved – Join a Committee and Make a Difference! We believe that every member’s voice matters. To make a real impact within the RAB and the Rochester community, consider joining one of our committees. Your unique perspective and expertise will help shape the future of our association. Get involved, and let your voice be heard! Mayo Clinic’s Unbound Initiative. Our January 23rd General Membership Meeting will feature a panel of senior Mayo leaders discussing their $5 billion project. This project will bring challenges and opportunities to our community and to RAB members. By maintaining a close, trusting relationship with Mayo, I believe RAB members are well positioned to succeed. As of this writing, the event is sold out, but please put your name on the wait list, as seats might become available. I am genuinely excited about the year ahead as your President. Together, let’s build on the successes of the past and create a thriving future for the Rochester Area Builders Association. Thank you for your continued support and dedication. I hope you all have a great holiday season with your families! Here’s to a prosperous and fulfilling 2024! Cheers,

Adam Giannini Knutson Construction 2024 RAB President

5 | FOUNDATIONS NEWSLTR

Rochester Area Builders 2023-2024 Calendar of Events

DECEMBER 25-26

Office Closed – Christmas Holiday

JANUARY - 2024 1 23 24

Office Closed - Holiday General Membership Meeting @ Dan Abraham Healthy Living Center Continuing Education Class @ Haley Comfort Systems

FEBRUARY 02-04 23 27 27-29

Home Show @ Mayo Civic Center Continuing Education Class @ Haley Comfort Systems Networking Night @ Modern Design Cabinetry International Builders Show @ Las Vegas, NV

MARCH 5 26

BAM Building Industry Day at the Capitol Networking Night @ The Pinske Edge

APRIL 20-21 27-28 30

MAY 27

Spring Showcase of Homes Spring Showcase of Homes Networking Night @ Hamernick’s Flooring Solutions Office Closed – Memorial Day

JUNE 6 25

RAB Golf Outing @ Willow Creek Golf Course Networking Night @ Top Shop

JULY 4 TBD 30

Office Closed for Independence Day NAHB Mid-Year Board Meeting – TBD Member Appreciation Night @ TBD

AUGUST TBD 27

Builders, Bags & Brews @ LTS Brewing Co. Networking Night @ Carpet One

SEPTEMBER 2 19 21 21-22 24 28-29

Office Closed – Labor Day Sporting Clay Shoot Sporting Clay Youth Shoot Remodelers Tour & Fall Showcase of Homes General Membership Meeting @ TBD Fall Showcase of Homes

OCTOBER 29

Networking Night @ Reagan Outdoors

NOVEMBER 28-29 TBD

Office Closed – Thanksgiving Holiday Past Presidents Dinner

DECEMBER 6 24-25

Holiday Party @ TBD Office Closed – Christmas Holiday

6 | JANUARY 2024

Sunday

January 2024

Monday

Tuesday

Happy 8:30 AM New Year! Remodelers

Wednesday 3

7:30 AM CBC Exec Meeting

Council Exec.

Thursday

Friday

Saturday

11:30 AM Program Committee

11:30 AM Exec. Committee

8 12:00 PM Government Affairs Committee

3:30 PM Board Meeting

11:30 AM Ambassadors/ Membership Committee

6:00 PM 40 Below Holiday Party

4:30 PM 40 Below Exec Committee

22 11:30 AM Home Show Committee

23 5:00 PM GMM - Dan Abraham Healthy Living Center

24 3:00 PM Development Services Advisory Committee

11:30 AM Community Relations Committee

7 | FOUNDATIONS NEWSLTR

WELCOME NEW MEMBERS DECEMBER 2023

American Fence Company

Davis Mechanical System

Matt Wheeler Fencing 507.226.3988 americanfenceminnesota.com

Norm Autry Commercial Refrigeration 952.854.3654 davismechmn.com

Thank You! Thank you to our amazing 40 Below members for taking time out of their busy schedules to volunteer for the Salvation Army’s Kettle campaign. Collectively, the 40 Below team covered nine shifts and helped spread Christmas cheer! Congratulations & thank you to the members listed below, as you are now part of the legacy that is, The Salvation Army Red Kettle campaign, a tradition since 1891! Kat Cain – AOS Home Solutions Dylan Musgjerd – ISG Omar Abdelati – ISG Dan Horsch – SEH Joshua Zemke – Meyer Borgman Johnson Adam Giannini – Knutson Construction Jeremy Wohlfiel – Merit Thomas Bottema – Premier Banks Cameron Schueller – Premier Banks Layke Morger – Premier Banks Clay Reiland – CRW Taylor Daley – CRW Marc Kluge – Kimley Horn

8 | JANUARY 2024

DESSERT SPONSOR

GENERAL MEMBERSHIP MEETING Tuesday, January 23rd 5:00 PM - 8:00 PM Mayo Clinic - Dan Abraham Healthy Living Center (Floor 7)

Mayo Clinic’s Bold. Forward. Unbound. in Rochester project is the largest development project in Minnesota’s history. Senior leaders from Mayo Clinic will be at our January Membership Meeting to provide details and explain how members can be involved. The location – the top floor of the Dan Abraham Healthy Living Center – was chosen so people can see how the downtown Rochester skyline will change. We will also present awards for: · Distinguished Service Award for Builder · Distinguished Service Award for Associate · Cornerstone Award · Rising Star · President’s Award PROGRAM - 5:00pm – Social hour. - 6:00pm – Dinner served. - 6:30pm – Presentation of Annual Awards. - 6:45/7:00pm – Unbound presentation, featuring: Doug Holtan, Chair, Mayo Clinic Facilities Dr. Craig Daniels, Chair, Mayo Clinic Bold. Forward. Unbound. in Rochester Bridget Avikaninen, Administrator, Mayo Clinic Bold. Forward. Unbound. in Rochester - 8:00pm – End

REGISTRATION INFORMATION Event is full, wait list available.

TABLE SPONSORS

9 | FOUNDATIONS NEWSLTR

Thank you Holiday Party Sponsors! Gold Sponsors

Silver Sponsors • Think Bank • Carpet One • Premier Bank • Re/Max Results • Home Federal

Bronze Sponsors • Benike Construction • Reagan Outdoor Advertising • SEH

10 | JANUARY 2024

FIND THE SCHOLARSHIP THAT FITS YOUR CAREER PATH Each year the NAWIC Founder's Scholarship Foundation (NFSF) is pleased to award more than $25,000 to worthy recipients in construction-related programs.

Undergraduate Scholarship For full-time students currently enrolled in a construction-related degree program with at least one term remaining in a course of study leading to a degree or an associate degree.

Construction Trades Students currently enrolled in a construction-related training program apprenticeship training, community college, technical school or equivalent. Must be a construction-related craft or trade.

NAWICSEMN.ORG

11 | FOUNDATIONS NEWSLTR

2024 CONTINUING EDUCATION Residential Building Contractors & Building Officials

FEBRUARY 23RD 8AM-4PM

JANUARY 24TH 8AM-4PM

RAB MEMBERS

NON MEMBERS

DEADLINE REGISTRATION: FEBRUARY 19, 2024

DEADLINE REGISTRATION: JANUARY 17, 2024

$89 / 7 Hour Course

$109 / 7 Hour Course

ALL REGISTRATION INFORMATION AVAILABLE HERE HOST SPONSOR: EDUCATION SPONSORS:

CPAs | CONSULTANTS | WEALTH ADVISORS

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Questions Contact Amber 507.282.7698 or Amber@RochesterAreaBuilders.com

12 | JANUARY 2024

BUILDER SENTIMENT RISES ON FALLING INTEREST RATES

BY ROBERT DIETZ on DECEMBER 18, 2023

Falling mortgage rates helped end a four-month decline in builder confidence, and recent economic data signal improving housing conditions heading into 2024. Builder confidence in the market for newly built single-family homes rose three points to 37 in December, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). With mortgage rates down roughly 50 basis points over the past month, builders are reporting an uptick in traffic. The housing market appears to have passed peak mortgage rates for this cycle, and this should help to spur home buyer demand in the coming months, with the HMI component measuring future sales expectations up six points in December. It is worth noting that single-family builder sentiment has separated somewhat from recent starts/permits data. Our statistical analysis indicates that temporary and outsized differences between builder sentiment and starts occur after short-term interest rates rise dramatically, increasing the cost of land development and builder loans used by private builders. In turn, higher financing costs for home builders and land developers add another headwind for housing supply in a market low on resale inventory. While the Federal Reserve is fighting inflation, state and local policymakers could also help by reducing the regulatory burdens on the cost of land development and home building, thereby allowing more attainable housing supply to the market. Looking forward, as rates moderate, this temporary difference between sentiment and construction activity will decline. But with mortgage rates still running above 7% throughout November, per Freddie Mac data, many builders continue to reduce home prices to boost sales. In December, 36% of builders reported cutting home prices, tying the previous month’s high point for 2023. The average price reduction in December remained at 6%, unchanged from the previous month. Meanwhile, 60% of builders provided sales incentives of all forms in December, the same as November but down slightly from 62% in October. Derived from a monthly survey that NAHB has been conducting for more than 35 years, the NAHB/Wells Fargo HMI gauges builder perceptions of current single-family home sales and sales expectations for the next six months as “good,” “fair” or “poor.” The survey also asks builders to rate traffic of prospective buyers as “high to very high,” “average” or “low to very low.” Scores for each component are then used to calculate a seasonally adjusted index where any number over 50 indicates that more builders view conditions as good than poor. The HMI index gauging traffic of prospective buyers in December rose three points 24, the component measuring sales expectations in the next six months increased six points to 45 and the component charting current sales condition held steady at 40. Looking at the three-month moving averages for regional HMI scores, the Northeast increased two points to 51, the Midwest fell one point to 34, the South dropped three points to 39 and the West posted a four-point decline to 31.

13 | FOUNDATIONS NEWSLTR

On February 1, ONB Bank will become Eagle Rock Bank. We’ll have a new name, but we’re still the same great, locally-owned bank and we still put you first!

COMING FEBRUARY 1

14 | JANUARY 2024

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SINGLE-FAMILY STARTS SURGE ON FALLING INTEREST RATES

BY ROBERT DIETZ on DECEMBER 19, 2023

Single-family construction surged in November as lower mortgage rates helped to assuage affordability concerns and unleash pent-up demand for housing. Overall housing starts increased 14.8% in November to a seasonally adjusted annual rate of 1.56 million units, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. The November reading of 1.56 million starts is the number of housing units builders would begin if development kept this pace for the next 12 months. Within this overall number, single-family starts increased 18% to a 1.14 million seasonally adjusted annual rate. However, single-family starts are down 7.2% year-to-date. The multifamily sector, which includes apartment buildings and condos, increased 6.9% to an annualized 417,000 pace. Lower interest rates and a lack of resale inventory helped to provide a strong boost for new home construction in November. And while these higher starts numbers are consistent with the turning of momentum in the latest NAHB/Wells Fargo builder survey, which shows a rise in builder sentiment and future sales expectations, home builders continue to contend with elevated construction and regulatory costs. However, some skepticism should be adopted with the November data. It is possible that the strong reading, the best on a seasonally adjusted basis in more than a year, will be revised lower. It is also possible some acceleration of construction activity occurred in November, perhaps resulting in a lower reading for December. Nonetheless, NAHB is forecasting approximately a 4% gain for single-family starts in 2024. On a regional and year-to-date basis, combined single-family and multifamily starts are 16.7% lower in the Northeast, 12.3% lower in the Midwest, 6.2% lower in the South and 14.3% lower in the West. Overall permits decreased 2.5% to a 1.46 million unit annualized rate in November. Single-family permits increased 0.7% to a 976,000 unit rate. However, single-family permits are down 8.4% year-to-date. Multifamily permits decreased 8.5% to an annualized 484,000 pace. Looking at regional permit data on a year-to-date basis, permits are 19.9% lower in the Northeast, 15.3% lower in the Midwest, 10.3% lower in the South and 12.8% lower in the West. The number of single-family homes actively under construction is rising again. There are now 680,000 single-family homes under construction, the highest count since June 2023. The number of apartments under construction is falling slowly. There are now 1.005 million apartments under construction, with November being fourth consecutive month of decline. However, the current reading is still near the highest total since 1973.

16 | JANUARY 2024

THE FED PROJECTS LOWER RATES IN 2024 BY ROBERT DIETZ on DECEMBER 13, 2023 The Federal Reserve’s monetary policy committee held the federal funds rate constant at a top target rate of 5.5% at the conclusion of its December meeting. The Fed will continue to reduce its balance sheet holdings of Treasuries and mortgage-backed securities as part of quantitative tightening and balance sheet normalization. Marking a third consecutive meeting holding the federal funds rate constant, it now appears the Fed has ended its tightening of monetary policy. Nonetheless, elevated rates will continue to place downward pressure on economic activity, thereby slowing inflation, as it recedes to the Fed’s target of 2% over the course of 2024 and 2025. The Fed’s statement noted that “growth of economic activity has slowed” and “inflation has eased over the past year but remains elevated.” While it appears the Fed is done raising the federal funds rate, the door was kept open for additional increases if inflation were to trend higher. The statement declared this willingness by noting “in determining the extent of any additional policy firming that may be appropriate to return inflation to 2 percent over time” the Fed will take into account the lags of policy and other economic conditions. The Fed however missed an opportunity here to cite the outsized role shelter inflation has played in recent CPI reports. The high cost of development and home construction is slowing the fight against inflation. State and local governments could assist the fight against inflation by addressing the root causes of these rising costs. Looking forward, the Fed’s updated economic projections suggest three rate cuts next year. While this is one lower than current bond market expectations, it is one more than many forecasters (including NAHB) built into their 2024 base case only a few months ago. The Fed’s projections envisioned only two rate cuts in 2024 at their September policy meeting. While the federal funds rate will likely have a lower top rate of 4.75% this time next year, the Fed will continue reducing its balance sheet, thereby maintaining an elevated spread between the 10-year Treasury rate and rates for 30-year fixed rate mortgages. The 10-year Treasury rate, which partially determines mortgage rates, dipped below 4% after the Fed announcement. This suggests mortgage rates will move below 7% in the weeks ahead. This is the lowest 10year rate since August. The Fed’s economic indicates a softish landing for the economy (although it is worth noting the economy did experience declining GDP growth for two quarters at the start of 2022 and a housing recession that spanned most of that year). The Fed’s projections also show a strong labor market, with the unemployment rising not much higher than 4%. The projections suggest three 25 basis point decreases in 2024 with another 100 basis points of cuts in 2025 taking the top target for the federal funds rate to 3.75%. This outlook is generally consistent with mortgage rates settling into a range somewhat above 5% by the end of 2025. This is an improved outlook for housing demand over the next two years, one that occurs amidst a persistent housing deficit.

17 | FOUNDATIONS NEWSLTR

FOUNDATIONS NEWSLETTER ADVERTISING Rochester Area Builders Newsletter is an unbeatable opportunity to advertise to members and individuals associated with RAB. It is a source of valuable association and industry information, and is published and emailed monthly. Foundations is sent to over 1600 connected industry professionals. Ad sizes are listed under Display Ad Dimensions, and prices are located above. Ads may be changed from month to month. Our prices are for full color ads. We will gladly work with you to design your ad. Please send digital files for all ad copy, logos, and artwork. We use PC format. We accept Illustrator and Photoshop files. Convert all fonts to outlines. We also accept the following high resolution file types: .tif, .eps and .pdf (with all graphics and fonts embedded). If you have any other formats please contact us.

RETURN TO: ROCHESTER AREA BUILDERS

Shelly Bahlmann Shelly@RochesterAreaBuilders.com 108 Elton Hills Ln NW Rochester, MN 55901 507-282-7698

Newsletter Advertising Rates

Per Issue

12 Issues

New Member 12 Issues

Full color 1/2 Horizontal

c $70.00

c $650.00

c $490.00

Full color Full Page

c $90.00

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c $675.00

Full Color Full Page Press Release

c $25.00

Newsletter Display Ad Dimensions 1/2 Horizontal Full

8-1/2 x 5-1/2 8-1/2 x 11

Send artwork to Shelly@RochesterAreaBuilders.com by the 15th of the month to be included in the upcoming Foundation Newsletter.

18 | JANUARY 2024

ROCHESTER BUILDING PERMITS

NOVEMBER 2023 NEW RESIDENTIAL

2023

VALUATION

2022

VALUATION

2023 NO.

VALUATION

2022 NO.

VALUATION

BUILDING PERMITS ISSUED TO DATE

2207

497,429,238

2014

527,866,207

Single Family Dwelling

200

71,810,025

163

66,638,755

Multi-Family Buildings Total Units: 549

86,749,000

97,921,858

106,665

16,154

TRADE PERMITS ISSUED TO DATE

9714

135,931,760

9215

152,973,550

Electrical

3772

58,596,604

3591

71,303,467

Single Family Dwelling

6,196,000

6,801,919

Townhome Dwelling

662,140

Two-Family Houses

Manufactured Home

Multi-Family Bldgs (Units)

EXISTING RESIDENTIAL Deck Addition

YEAR TO DATE STATISTICS

Room Addition

395,042

415,000

Porch Additions

Electrical (Temp. Service)

192

61,515

201

128,100

Other Additions

20,727

Mechanical (HVAC)

2478

41,898,777

2538

40,483,652

761

1,198,245

504

979,361

Basement Finish

673,192

281,855

Mechanical (Gas Piping)

Alterations

1,191,034

928,282

Mechanical (Fireplace)

274

1,126,078

257

1,245,576

Mechanical (Hydronic)

158

9,669,703

214

15,086,150

Plumbing

2079

23,380,838

1910

23,747,244

TOTAL PERMITS YTD

11921

633,360,998

11229

680,839,757

Multi-Family Addition

Multi-Family Alterations

3,080,671

8,520

NEW COMMERCIAL Assembly (Church)

Assembly (General)

12,420,000

Assembly (Restaurant/Bar)

600,000

Business

Education

Factory/Industrial

Institution

TCPA BUILDING PERMITS

JUNE 2023

NUMBER

VALUATION

Cascade Township

600,000

Dover Township

26,000

Elimira Township

Haverhill Township

136,000

High Forest Township

Mercantile

Kalmar Township

Miscellaneous

New Haven Township

Residential (Apartment)

Orion Township Pleasant Grove Township

Residential (Care/Assisted Living)

Residential (Care/Hotel/Motel)

Storage (General)

Storage (Parking Garage)

375,000

Storage (Warehouse)

Utility (General)

Utility (Private Garage)

Addition

7,186,000

20,000

Alterations

19,739,297

14,764,903

Structural Shell

“White Box”

Interior Demolition Only

Other Phased Permits

Business Signs

228,472

82,209

Advertising Signs

Footings & Foundations

8,377

Demolition

N/A

EXISTING COMMERCIAL

OTHER CONSTRUCTION

TE9S A PD 4 1

4,500 859,000 71,000

44,000

Rochester Township

646,000

Rock Dell Township

Salem Township

228,000

Viola Township

19 | FOUNDATIONS NEWSLTR

OLMSTED COUNTY PERMITS YTD

November 2023

NEW RESIDENTIAL

2023

Single Family-Detached

1,696,687

18,695,833

Single Family-Attached

22,078,554

Garage

85,748

2,086,429

115

268,465

VALUATION

2022

RESIDENTIAL Deck Addition

1,945,624

Alterations

284,019

300

5,305,594

Garage Addition

50,299

164,894

NEW COMMERCIAL/INDUSTRIAL Recreational

Church/Religious

Industrial/Warehouse

2,644,959

Service/Repair Station

3,041,530

Store/Restaurant

78,552

Nonresidential Building

616,530

COMMERCIAL/INDUSTRIAL

2023

VALUATION

2022

VALUATION

Addition

192,666

Alterations

42,000

4,627,830

Re-roofing

326,929

Pool, Retaining Wall, etc.

130,598

685,667

Manufactured Homes

OTHER STRUCTURES

MISCELLANEOUS PERMITS Mechanical

87,941

202

1,341,816

Plumbing

26,890

320,789

2,404,298

887

83,426,793

TOTAL PERMITS

CD Report

VALUATION

BUILDING DIVISION Commercial building plans submitted

Residential building plans submitted

Commercial inspections completed

2023: 936 *Avg: 846

Residential inspections completed

YTD NEW Housing Units

Residential plan review time

Commercial plan review time

2023: 1,610 *Avg: 1,497

2023: 783 *Avg: 704

3 Weeks

5 Weeks

YTD Residential permits issued

YTD Commercial permits issued

YTD Trade permits issued

2023: 1,594 *Average: 1,406

2023: 393 *Average: 330

2023: 9,714 *Average: 9,196

YTD Residential valuations

YTD Commercial valuations

YTD Alterations valuations

YTD Trade valuations

2023 $174,194,245 *Average $144,635,177

2023 $49,974,200 *Average $107,774,162

2023 $300,736,867 *Average $160,013,945

2023 $135,931,760 *Average $118,035,520

OLMSTED COUNTY PERMITS TOWNSHIPS/CITY

NOVEMBER 2023

2023

VALUATION

2022

VALUATION

City of Byron

278

12,052,795

16,752,028

Eyota Township

1,588,343

45,267

Marion Township

166

4,531,044

82,540

Oronoco Township

2,647,565

50,254

City of Stewartville

317

12,052,795

2,047,173

Quincy Township

671,828

20,000

PINE ISLAND BUILDING PERMITS NOVEMBER 2023 NEW RESIDENTIAL

NUMBER

VALUATION

Single Family Detached

Single Family Attached

Basement Finish

Deck Addition

8,000

Existing Residential

PLANNING DIVISION

YTD Building permit plans reviewed

YTD Zoning Certificates submitted

YTD Type I Applications submitted

2023: 1,987 *Average: 1,736

2023: 89 *Average: 101

2023: 75 *Average: 68

YTD Type II Applications submitted

YTD Type III Applications submitted

2023: 9 *Average: 4

2023: 36 *Average: 64

*Average based on 2020, 2021, 2022

20 | JANUARY 2024

21 | FOUNDATIONS NEWSLTR

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22 | JANUARY 2024

Reach

Qualified Customers

Advertise on the RAB Website!

More than 3,000 people visit the RAB website each month, many of them looking for a contractor. Advertise on our site and reach them when they’re primed to buy! Banner ads are available in a variety of locations on the RAB site, from job posts to the contractor directory. Higher tiers come with priority placement in directory search results too. Contact us today to learn how you can start advertising! Contact Rochester Area Builders Shelly@RochesterAreaBuilders.com or 507-282-7698

23 | FOUNDATIONS NEWSLTR

WEBSITE PROFILE ENHANCEMENTS

STANDARD LISTING

UPGRADED LISTING

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$100 ANNUALLY

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Company Name, Address and Phone Number Links to Website, Address, and Phone 5 Categories Medium Placement in Search Results Link to Profile Page 12 Categories Company Description (200 Characters) Keywords (240 Characters) Hours of Operation Driving Directions Higher Placement in Search Results Company Description (1600 Characters) Keywords (Unlimited Characters) 200 Characters on Search Results Bulleted List with Hyperlinks Logo on Profile Page Can Be Added Search Results Summary (200 Characters) Profile Page Header Can Be Added Gold Map Pin Logo On Search Results Can Be Added Social Networks Can Be Added Photo Gallery Can Be Added YouTube Video Can Be Added

Contact: Shelly@rochesterareabuilders.com for more information.

24 | JANUARY 2024

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25 | FOUNDATIONS NEWSLTR

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