Agenda - Council Work Session - 11/24/2009

Home

FOR-SALE HOUSING MARKET CONDITIONS . Limited single-family homes are available in the City of Champlin at Mississippi Bluffs, Mississippi River Pines, Nokomis Pass and Villas at Waters Edge. For housing units that serve moderate-income households, the actively marketing Emery Village townhome community has been included in Table FS-7. No additional projects are identified at this time. Coon Rapids . The previously identified Port Riverwalk redevelopment remains on hold due to market conditions. Approvals for the site have lapsed, and development of the project remains uncertain as of October 2009. . The City recently approved an I8-lot single-family development called Crescent Ponds near the intersection of University A venue and Main Street. The project is being devel- oped by Centex Homes and is actively marketing. The package prices are within an af- fordable range for moderate-income households. More information on the project is available in Table FS-7. Blaine . The City of Blaine no longer tracks the progress of active subdivisions in the City; there- fore, specific lot information was not available from the City. No new developments are moving forward and existing developments, including The Lakesand Legacy Creek, continue to market remaining townhomes. Information on these actively marketing pro- jects is available in Table FS-7. Summarv of For-Sale Housin!! Market Conditions The current economic conditions have resulted in several projects being delayed or cancelled. The only projects certain at this time are those that are actively marketing, as there is significant uncertainty among planning staff if and when previously approved projects will move forward. Therefore, Table FS-7 provides the best guide as to the number and types of housing units that are available in the near-term to meet for-sale demand in the Market Area. MAXFIELD RESEARCH INC. .