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<br />CONCLUSIONS AND RECOMMENDATIONS <br /> <br />workforce and independent senior housing development. Service-enhanced senior housing is the <br />only housing product type that we recommend be delivered within the next 18 to 24 months. <br /> <br />The following table summarizes development recommendations for the City of Ramsey. Pricing <br />in the table is based on 2009 dollars and may be trended upward by 3.0% annually until deliv- <br />ery/opening. Prior to development of new housing, we recommend that the Anoka County HRA <br />and/or private developers undergo a market assessment to more precisely identify the develop- <br />ment concept that would position a new project for long-term market performance. <br /> <br />TABLE CR-l <br />RECOMMENDED HOUSING DEVELOPMENT <br />CITY OF RAMSEY <br />October 2009 <br /> <br /> <br />Base Package Price/ <br />Monthly Rent Range1 <br /> <br />No. of <br />Units <br /> <br />Development <br />Timing <br /> <br />For-Sale Housing <br /> <br />Townhomes <br />Small Lot Single-Family <br />Total <br /> <br />$150,000-$170,000 <br />$200,000-$220,000 <br /> <br />50 - 100 <br />20 - 30 <br />70 - 130 <br /> <br />2012+ <br />2012+ <br /> <br />Rental Housing <br /> <br />Affordable Rental <br />Total <br /> <br />$750 (lBR) - $1,175 (3BR) <br /> <br />50 - 60 <br />50-60 <br /> <br />2012+ <br /> <br /> <br />Service-Enhanced Senior Housing <br />Mixed-Income: Active Adult Market Rate <br />Mixed-Income: Active Adult Affordable <br />Total <br /> <br />$3,000+ <br />$900 (lBR) - $1,050 (2BR) <br />$725 (lBR) - $900 (2BR) <br /> <br />35 - 45 <br />50 - 60 <br />10 - 15 <br />95 - 120 <br /> <br />2010+ <br />2012+ <br />2012+ <br /> <br />1 Pricing in 2009 dollars. Pricing can be adjusted to account for inflation. <br /> <br />Note: Based on a delivery in 2012, an estimated 20 to 25 for-sale units can be expected to be absorbed annually. <br />Source: Maxfield Research Inc. <br /> <br />MAXFIELD RESEARCH INC. <br /> <br />