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City News - News Release

Posted on: January 5, 2023

Ankeny sets new records in investment in 2022

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Construction projects in Ankeny did not slow down in 2022 as it was another record year for the City. The City of Ankeny permitted a record amount of new investment valued at over $528 million in both commercial and residential construction. This is the fourth consecutive year that Ankeny permitted more than $400 million in construction projects. Over the past five years, the City of Ankeny has permitted more than $2 billion worth of investment. 

Highlights of 2022 construction include:

  • 2022 was a record year with more than $528.7 million total investment in new construction projects. Previous high was in 2021 with a total of $498.7 million. 
  • Permits were issued for 34 new commercial buildings, with $231.9 million in total non-residential investment.
  • Permitted over 1 million square feet of new commercial/industrial space in 2022.
  • $232 million permitted in total new residential investment, resulting in 1,133 total new residential units including:
    • 453 single family detached homes
    • 312 townhomes
    • 368 multi-family units
  • Approximately $11.5 million in other additions, alterations and miscellaneous permits issued.

“Commercial investment in Ankeny over the last two years is at an all-time high. Some of this growth of investment is fueled by our robust residential growth, but much of it can be attributed to Ankeny’s growing reputation in the marketplace as a regional business center,” said Ankeny City Manager David Jones.

Future growth looks promising in Ankeny as 750 lots and 495 acres were platted and 62 new site plans were approved by the Planning and Zoning Commission last year.  

Notable construction projects underway in 2022 or completed in 2022 include: Costco, three new hotels including Staybridge Suites, Home2 Suites and Tru by Hilton, Nelson Senior Living at Prairie Trail, Housby Sales & Service Center, three speculative warehouse developments, expansion at On With Life and several other commercial projects.

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