Agenda - Parks and Recreation Commission - 04/10/2014

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City of Ramsey 2030 Comprehensive Plan Appendix A: Community Background Figure 3-17 - Median Home Prices 8 N 2 $350,000 $300,000 - $250,000 - $200,000 - $150,000 - $100,000 - $50,000 - $0 Median Home Prices 2000 and 2006 ❑ 2000 ❑ 2006 +50% +55% +55% +51% Rxrsey Anoka Coon REpids Andover Sane: Minneapolis Area Association of Realtors +55% +47% MNAnoka County MLS Districts +54% +50% +51% Bk Fiver Champlin PM/Fenn County Metro Area Housing Demand in Ramsey Significant growth is expected to occur through 2030 in western Anoka County as this area is currently the developing edge of the northwest sector of the Twin Cities metropolitan region. Over the next 25 years, most of the growth in this area will likely occur in the remaining undeveloped portions of Ramsey, Andover, and Elk River, as these communities contain significant tracts of undeveloped land with planned sewer service that will conceivably be developed and marketed to the largest and most active segments of the market. Depending on appropriate densities and accessibility of individual developments to goods and services, Ramsey certainly has the potential to absorb a substantial portion of this growth. As of 2006, the Metropolitan Council forecasts that Ramsey will grow by approximately 5,000 households between 2000 and 2010, by 5,300 households between 2010 and 2020, and by 300 households between 2020 and 2030. These figures indicate that the Metropolitan Council anticipates Ramsey will absorb a significant portion of residential development in the northwest sector of the metro area. As noted previously, these household projections have been revised somewhat in subsequent discussions with the Metropolitan Council staff and community discussions concerning the land use plan. Based on building permits issued from 2000 to 2005, the growth forecasts by the Metropolitan Council for the current decade appear to be aggressive. Based on the Metropolitan Council's own estimates, Ramsey contained about 7,200 households in 2005. Therefore, to meet the forecasted number of households for 2010 (10,900), Ramsey would need to grow by 740 households per year from 2005 to 2010. Given the latest building permit data for 2006 and early 2007, this appears to be unlikely, especially since the residential real estate market has become oversupplied with excess inventory of new homes. Therefore, it is more realistic to assume that the number of forecasted households for 2010 should be revised downward to a figure closer to 8,000 instead of 10,900. City of Ramsey 2030 Comprehensive Plan Appendix A-23