Agenda - Council Work Session - 11/24/2009

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FOR-SALE HOUSING MARKET CONDITIONS Ramsey . The City of Ramsey has 13 active subdivisions, one final approved plat and one prelimi- nary plat for for-sale housing products. Of the active subdivisions, there are a total of 503 single-family lots (includes rural, standard and small lots) and 298 multifamily lots that are undeveloped. In addition to these undeveloped lots that are available, a subse- quent phase ofthe Ramsey Town Center has been approved for 77 townhomes and a new subdivision, Summetset Meadows, has received preliminary plat approval for 156 urban single-family homes and 450 townhomes. Anoka . Development has been underway on Rum River District Condominium, which is an age- restricted condominium building located in the North Central Business District ("NCBD"). Additional information on the age-restricted component of the project is lo- cated in Table SH-I. Approval has been received for a second phase of 69 loft-style general occupancy condominiums units, but presales have been very slow (only one unit is pre-sold) and the project is unlikely to move forward in the near term. Once it does move forward, most units will be priced out of range for households who income-qualify for affordable housing. . A second project, Heart of Anoka, has been scaled back from its original plans for up to 1,200 housing units and will instead have up to 600 housing units. The land has all zon- ing approvals but development will not move forward until housing market conditions improve and developers choose to move forward on the site. City planning staff antici- pates that activity will begin in one to three years. Potentially, some housing units could be affordable to households in an affordable housing situation since the project may in- corporate a variety of different product types and price points. Andover . There are approximately 22 developments approved or actively marketing in the City of Andover, including single-family and/or multifamily housing types. Among these, three projects have townhome components including 18 units at the approved Country Oaks West development, 54 units at Nature's Run and 110 units at Parkside at Andover Sta- tion, which is part of the Andover Station North development located across Bunker Lake Boulevard. Champlin . The previously identified Gateway Area redevelopment project has been shuttered due to the current economic conditions. It was planned as a $45 million urban village com- prised of housing units, commercial space and a public park along the Mississippi River. The project requires extensive acquisition and demolition of existing structures and it is unknown when and if this project will proceed. MAXFIELD RESEARCH INC.