News in Economic Development
Ramsey Apartment Complex Fetches $28.56M
A five-year-old apartment building in Ramsey appears to have been a good investment for the out-of-state investor that bought the property in 2018. Curtis Capital Group of Bellevue, Washington, sold the 121-unit Park View East building at 14450 Rhinestone St NW for $28.56 million, according to a certificate of real estate value made public Tuesday. Curtis Capital paid $22 million for the building in 2018. The real estate document lists the buyer as PA Parkview SPE LLC, which shares the same address as MinnDakotaProperties. Edina-based MinnDakota Properties “acquires and self-manages rental properties across the Twin Cities,”according to its website.
Matt Mullins, a vice president with Maxfield Research, a Minneapolis-based residential real estate consulting firm, said the price for the Ramsey property is attractive for a five-year-old suburban asset. The average rent at Park View East is about $1.60 to $1.70 per square foot, Mullins noted. Newer Class A apartments are renting for more than $2 per square foot, which is enough to justify higher sale prices, Mullins said.
Ramsey’s demographics are solid overall. Mullins said the overall apartment vacancy rate in the city is below 2% and the average income is about $100,000 per household. From a location standpoint, Park View East is near the 300-acre COR (Center of Ramsey) downtown development site, where the city is promoting multifamily development in a walkable, transit-oriented environment. The city has seen a fair amount of senior and traditional multifamily development there in the past five to six years, Mullins said. “It’s a neat neighborhood up there and they have done a lot to try to create a mixed-use community,” he added. Source: Finance & Commerce
Unique Free Business and Financial Assistance for Ramsey Businesses
Are you interested in starting a small business in Ramsey or expanding your current business? Metropolitan Consortium of Community Developers (MCCD) is a non-profit entity that offers small business owners in Anoka County free assistance and alternative financing options through their Open to Business program. More information is available on their website or under Related Links on our Economic Development page.
MN DEED Hosting Several Events for Twin Cities Startup Week (September 16-23, 2022)
To kick off Twin Cities Startup week, The Minnesota Department of Employment and Economic Development (DEED) is sponsoring an in-person open house, using a trade show format, where attendees can learn about the many financing and technical assistance programs DEED offers startups and entrepreneurs. Read more...
2022 Ramsey Business of the Year: Plants & Things
Congratulations to PLANTS & THINGS USA, recipients of the 2022 Ramsey Business of the Year! Plants & Things, located at the corner of Highway 10 & Sunfish Lake Blvd (13745 Sunfish Lake Blvd NW), started their business as a fruit & vegetable stand in 1979. They offer the largest selection of maintenance-free recycled materials, ship their products globally and now employ 69 people companywide. They are active in the community by donating to local schools, churches, festivals and other charities. The City of Ramsey is proud to have Plants & Things in our business community.
Each year, Ramsey's Economic Development Authority selects a local business to receive this award based on their exemplary standing in various categories. The Business of the Year award is presented at the Business Appreciation Event in August.
Oppidan Breaks Ground on $40M Project
Oppidan, Inc. held a groundbreaking ceremony on June 16, 2022 in Ramsey's 140 acre Bunker Lake Industrial Park (BLIP) for their latest project. The $40M investment will bring three new industrial buildings (over 400,000 SF total) and business growth to Ramsey. An anticipated 300 new jobs will be created as a result. To date, there has been over 470,000 SF of new building space created in BLIP.
Power Lodge Acquires Miller Marine of St. Cloud
Power Lodge, with four dealership locations in Minnesota and Florida (including Ramsey), has acquired Miller Marine of St. Cloud (and its earworm of a radio jingle!). Read more at Powersports Business...
Dedicated Networks, Inc. Recognized as Outstanding Business
Dedicated Networks was recognized at the May 10, 2022 City Council meeting as Outstanding Business for their contributions to the City of Ramsey. Over the years they have participated in a myriad of programs that benefit Ramsey residents. In addition to being a Happy Days sponsor, Dedicated Networks sponsored an Earth Day event in April to remove significant amounts of litter and debris along streets and stormwater ponds within the business park near Unity Street. Volunteers planted 7 boulevard trees in the business park, including a $600 large Oak tree donated by Dedicated Networks.
Dedicated Networks Inc has been a prominent family business headquartered in Ramsey since 2012, and employs more than 140 area residents. Dedicated Networks is also one of the 2022 Business of the Year nominees. Thank you to Dedicated Networks and their employees!
Unemployment Insurance and Frontline Worker Bill Passed by Minnesota Legislature Signed into Law
May 2, 2022
On Friday, Governor Walz signed the Unemployment Insurance (UI) and Frontline Worker bill into law. Replenishing the UI Trust Fund at $2.73 billion will ensure UI benefits are available to workers in the future and that businesses across the state are held harmless from the effects of the pandemic. About 130,000 businesses will receive UI tax relief with the passing of this bill – with the total amount of relief provided to businesses coming totaling around $200 million for the first quarter of 2022. Read more or view FAQ's here.
2022 EDA Business Expo a Success!
Welcome New EDA Members
Scott Wiyninger and Shanna Stewart were recently sworn in as the newest members of Ramsey's Economic Development Authority. Scott will hold a 6 year term and Shanna's is a 4 year term. Scott moved to Ramsey in 2021 and is married with four children. Shanna has lived in Ramsey for awhile and is married with two children. Both are looking forward to being part of the EDA.
Gigi's Salon & Spa Opens at New Location
Scott Cords Day - February 10, 2022
The City of Ramsey announced at the February 8th City Council meeting that February 10th, 2022 would be proclaimed Scott Cords Day. Scott Cords passed away on January 27th unexpectedly. He was a Ramsey resident, very active in his community and most recently was the Chairman of Ramsey's Economic Development Authority. He volunteered for TLC Toys and was part of a featured WCCO News segment in December, found here. Watch the February 8, 2022 City Council meeting reading of the proclamation here.
2022 EDA Business Network Breakfast
The Ramsey EDA Business Networking Breakfast was back, in-person, taking place on January 25, 2022 with business owners, community leaders and government officials attending. View event details and photos or download the Ramsey Gateway presentation here.
Sammy Perrella's Pizza is coming to Ramsey!
Sammy's Pizza is now open at 13939 St Francis Blvd NW Ste 100 in Ramsey as a take-out pizza and sandwich shop. Read full article in ABC Newspapers. Watch their Facebook page for store opening details.
Northern Starz Center for the Performing Arts Celebrates 10 Years
Northern Stars Center for the Performing Arts, located at 5300 Alpine Dr NW, Ste 200 in Ramsey, is celebrating 10 years! Read full article...
Business Spotlight: The Artery Glass Arts Studio
Read about one of Ramsey's newest businesses in the January/February 2022 edition of Ramsey Resident here.
Riversbend Bar & Grill Expansion
Congratulations to Riversbend Bar & Grill, located at 14077 St Francis Blvd NW, on their recent dining room expansion to accommodate a large group dining area and golf simulator. Book online at www.golfriversbend.com.
Ribbon Cuttings Held for New Ramsey Businesses
Anoka Area Chamber held ribbon cutting ceremonies for Big Adventures Academy, a child care facility that recently opened in West Armstrong retail center and Jernell Realty, a realtor in the Rum River retail center. Congratulations!
Delta ModTech - Twin Cities Business Magazine's "2021 Family Business of the Year"
Ramsey Industrial Development Site Sells for $4 million
November 27, 2021 Declared Small Business Saturday in Ramsey
October 26, 2021
Ramsey Mayor, Mark Kuzma, has declared Saturday, November 27, 2021 as Small Business Saturday in the City of Ramsey. According to the United States Small Business Administration, there are 31.7 million small businesses in the United States, they represent 99.7% of firms with paid employees, and they are responsible for 65.1% of net new jobs created from 2000 to 2019. Read full proclamation here.
Construction Continues on Delta ModTech Expansion
July 1, 2020
While it may seem like the pandemic has interrupted almost all aspects of daily life, it hasn’t affected Delta ModTech’s expansion project in Ramsey, Minnesota. Construction is moving right along on the 230,000-square-foot offce/manufacturing facility and the company looks forward to moving into the new space shortly after its planned completion in August. Read more.
Delta ModTech Breaks Ground in Ramsey
October 20, 2019
A well-anticipated manufacturer is adding jobs and helping grow the city of Ramsey. Delta ModTech broke ground Oct. 8 as the first business to move into Ramsey's Bunker Lake Business Park. Read more.
Delta ModTech to Break Ground on $16M Facility
September 24, 2019
Web product converter Delta ModTech will break ground Oct. 8 on a 210,000-square-foot production and engineering building on a portion of 43 acres of industrial land. The company paid $3.51 million for the property inside the 125-acre Bunker Lake Industrial Park, according to a certificate of real estate value made public late last week. Read full article.
Welcome New Ramsey Businesses in 2022!
Advanced Aircraft Roller Systems
Allison's Petite Pastries
Century Construction Co
Compass Child Care
Custom Education Solutions
O'Reilly Auto Parts
Hwy 10 Project
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