New Commercial Development

Woodbury continues to experience strong demand for new commercial construction. Building permits for seven new commercial buildings and one major leasehold improvement were issued in 2022, with a cumulative permit value of approximately $115 million. These new buildings will add 1,109,257 square feet of commercial space to the city’s tax base, bringing the total cumulative square footage of commercial space in Woodbury to just over 13 million square feet.

Cumulatively, Woodbury’s commercial space is comprised of 61.5 percent non-retail (i.e. office, medical, industrial) and 38.5 percent retail. This is a significant change since the early 2000s, when the city’s commercial stock was roughly half retail and half non-retail. To view current commercial and residential projects in Woodbury, see the Development Map