ANKENY, Iowa(Jan. 9, 2018) — The City of Ankeny saw one of its best years for commercial and residential construction activity with totals surpassing $337 million in 2017. This is the second highest year for total investment on record and the fourth consecutive year with at least $300 million of total construction activity.
Highlights of the $337 million construction activity includes:
- 2017 was a record year for new permitted taxable commercial construction activity at $95.1 million, with total commercial investments at $102.8 million.
- More than 1 million square feet of commercial and industrial space was permitted in 2017.
- The total residential valuation topped out at $228.8 million with 567 single family homes, 174 townhomes/condos and 365 apartment units. This was the second highest year on record for residential growth.
- The remaining amount of the $337 million (approximately $6 million) comes from other additions, alterations and miscellaneous permits issued by the City.
“2017 was another great year for us. We are particularly proud to set a record for taxable commercial construction activity. This type of investment proves we are not only a great place to live, but also a great place to do business,” said David Jones, City Manager. “Ankeny is firing on all cylinders and I see our momentum continuing; 2018 already looks promising with tens of millions of dollars in commercial projects in the queue. Developers continue to demonstrate a high level of confidence in Ankeny as they continue investing here.”
Ankeny saw a mix of large, medium and small businesses relocating, expanding and remodeling to meet the needs of the market. To help meet these demands, the City annexed 224 acres and platted 687 lots. All annexation was voluntary. The City issued 2,597 permits, second best to the record set in 2016 when 2,719 permits were issued.
While there were a number of new businesses and neighborhoods built in Ankeny in 2017, some of the more notable construction projects include Hy-Vee/PDI expansion, Opus warehouse, Graham Group distribution center, three new hotels and overall growth in Prairie Trail.?
About City of Ankeny
The City of Ankeny is Iowa's fastest growing community. We are home to exceptional schools, numerous recreational and cultural amenities as well as attractive residential and business developments. Learn more about Ankeny at ankenyiowa.gov.