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Ramsey Senior Housing Market Study <br /> <br />January 1998 <br /> <br />Property values are increasing in Ramsey, thus, seniors have an asset that is increasing in <br />value, which will provide equity to assist with rental costs. <br /> <br />There is only one senior housing project in the Primary Market Study Area and there are <br />no senior housing projects in Ramsey. <br /> <br />The community appears to be supportive of senior housing and community support greatly <br />enhances the opportunity for a successful project. <br /> <br />The majority of the interviewees identified senior housing as a major community need and <br />several interviewees were enthusiastic about a potential project. <br /> <br />The seniors surveys indicated a need for senior housing and interest in a Ramsey senior <br />housing project. <br /> <br />The Primary Market Study Area is growing and will experience substantial residential, <br />commercial, and industrial growth over the next several years. <br /> <br />A prime site is available in Ramsey for a senior housing project. <br /> <br />The percentage of senior households and percentage of income qualified households <br />methods for determining market demand have identified a market for senior housing. <br /> <br />Many younger Market Study Area families desire to have their senior parents move in <br />close proximity to their homes. <br /> <br />Also, several indicators have been identified that limit the demand for senior housing. These indicators <br />include: <br /> <br />There are limited services available in Ramsey that are needed to support a senior housing <br />project, thus, a senior housing project must target the younger, mobile seniors. <br /> <br />There are many senior units in Anoka and Elk River, although, they are fully occupied. <br /> <br />Although Ramsey's senior population is growing rapidly, the current senior population is <br />young and most are currently not candidates for senior housing. <br /> <br />A senior project is in the planning stage in Andover. This project, if constructed, may <br />have an impact on a Ramsey project. <br /> <br />Ham Lake may construct an additional 50 senior units. These units would have a minimal <br />impact on a Ramsey project. <br /> <br />Community Partners Research, Inc. 38 <br /> <br /> <br />