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SENIOR PROJECTS IN <br />DEVELOPME~~I,~G STAGE <br /> <br />Andover <br />· Construction starting with fall completion <br />· 68 units assisted living, 66 units independent living <br /> and six townhouses <br />· Rents for independent living will range from $550 to <br /> $1,100 <br />· 24 independent living units are reserved <br /> <br />Ham Lake <br />· Anoka HRA/City researching feasibility of 50 <br /> additional units at the Willows on Majestic Oaks Golf <br /> Course <br /> <br />SUMMARY OF CURRENT SENIOR HOUSING MARKE~T <br /> <br />Shortage of market rate and subsidized senior rental <br />housing <br /> <br />All existing projects fully occupied with waiting lists <br /> <br />Shortage with existing demand and senior population is <br />growing <br /> <br />Monitor projects in the development/planning stage <br /> <br /> <br />