Laserfiche WebLink
City of Ramsey 2030 Comprehensive Plan Update <br />Chapter 7: Housing Plan <br />5. The price of existing single-family housing is affordable for the average family living in the <br />metropolitan area. According the Anoka County Assessor's records, in 2005 the mean market value <br />for housing in Ramsey was about $198,000. The average home price in 1990 was $111,000, which <br />results in an increase of 56% from 1990 to 2000. There are 3,765 (64% of total) homes in Ramsey <br />that are affordable to households earning 80% of the Area Median Income (AMI). Furthermore, only <br />17% of Ramsey residents pay more than 30% of their income to housing costs. It must be noted, <br />however, that the county assessor's estimated market value is usually below the true market value of <br />property. This factor limits conclusions about the affordability of existing housing in Ramsey. <br />6. The price of new single-family housing is increasingly unaffordable. While the average home <br />price in Ramsey is relatively affordable to a household earning the area median income (about <br />$76,000), the cost of new housing is substantially more expensive. The average market value of a <br />home built between 1990 and 2005 is $220,000, which is barely affordable to households earning the <br />median income. <br />7. Ramsey has very few alternatives to homeownership. As of 2007, only 4% of the housing stock <br />was rental. In the rental complexes there is very low vacancy rate and waiting lists for the senior <br />rental complex. To have a balanced housing supply, affordable and market rate rental opportunities <br />are essential. <br />IMPLEMENTATION STRATEGIES: <br />1) Work toward developing various senior housing options including independent living, <br />cooperatives, and assisted living facilities, both market rate and affordable. <br />a. Tactic -Evaluate opportunities to provide Tax Increment Financing (TIF) for senior housing <br />projects, such as Crest View Senior Communities' proposed project for the Ramsey Town <br />Center. <br />b. Tactic -Pursue partnerships with non-profit developers of senior housing, such as Lord of <br />Life, Anoka County, and others <br />c. Tactic -Continue to promote the Town Center as a neighborhood for residents of all ages, <br />complete with amenities, multi -modal transportation options, recreation, and a variety of <br />housing choices. <br />2) Focus on providing choices for empty -nesters, including aging in place and downsizing, to <br />allow the majority of current residents to stay in Ramsey. <br />a. Tactic- Evaluate lot split programs to allow seniors to split off their lot for income <br />generation and downsizing <br />b. Tactic- Consider the establishment of grant and/or loan remodeling programs to help seniors <br />stay in their homes. <br />c. Tactic- Consider coordinating service programs that would assist seniors with yard work or <br />other home improvement projects. <br />d. Tactic- Consider providing referral assistance to seniors looking to move to a smaller home <br />within Ramsey or the surrounding areas. <br />e. Tactic — Investigate the feasibility and desirability of allowing accessory apartments in <br />residential areas. <br />3) Provide opportunities for young adults to continue to live in Ramsey after leaving their <br />parents' homes by supporting the development of quality rental housing. <br />City of Ramsey 2030 Comprehensive Plan Page 7-16 <br />