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ANOKA COUNTY HOUSING STUDY CONCLUSIONS <br />Anoka Submarket Excess Senior Housing Demand <br />2020 <br />Senior Housing <br />Demand <br />475 <br />Senior Rental <br />395 ` <br />I Sub/Aff I I MR Adult 130 I I Congregate I A M70 O <br />Senior Ownership <br />80 <br />Note: Because households are mobile and are willing to seek out various housing products in adjacent <br />communities, these demand figures may experience fluctuations. <br />For -Sale Housine: Anoka currently has no existing lot inventory for new single-family or <br />multifamily homes, which is partially the consequence of limited land availability for new <br />development. The proposed Rum River District Condominium project will meet some demand <br />for multifamily housing; additionally, we recommend development of single -level twinhomes <br />and multistory townhomes as redevelopment parcels come available. Single-family development <br />will be the result of replacing existing homes that are no longer inhabitable. <br />Rental Housine: Demand for a total of 300 general occupancy rental units is calculated for <br />Anoka through 2020. With existing rental housing (market rate and shallow subsidy) performing <br />at vacancy levels near market equilibrium, we recommend delaying development of new rental <br />housing in the near term. Over time, the existing rental housing stock will become increasingly <br />affordable, which will indirectly satisfy demand for shallow subsidy housing. We recommend <br />prioritizing a new market rate development in 2013 or later. <br />Senior Housine: A total of 475 units of senior housing demand is calculated for Anoka through <br />2020, of which approximately 280 units could be supported within the next five years. The <br />continuum of care senior housing campus proposed by Volunteers of America would meet a <br />large portion of potential demand. In addition to the project proposed by Volunteers of America, <br />additional assisted living and memory care housing is likely to be needed in Anoka. <br />MAXFIELD RESEARCH INC. 115 <br />