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ANOKA COUNTY HOUSING STUDY CONCLUSIONS <br />Coon Rapids Submarket Excess Senior Housing Demand <br />2020 <br />Senior Housing <br />Demand <br />760 <br />Senior 12ental <br />660 LL 1 <br />I Sub/Aff I I MR Adult 235 I I Congregate8I I 100 A� MS <br />Senior Ownership <br />100 <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: For -sale housing in Coon Rapids is calculated for 125 units, including both <br />single-family and multifamily product types. Coupled with rehabilitation/replacement of <br />inhabitable units, existing vacant developed lots will satisfy for -sale housing needs in Coon <br />Rapids for the decade. It is important to note that in developed submarkets like Coon Rapids, <br />household growth forecasts are calculated based on the geography's ability to accommodate new <br />households. If more land is made available through redevelopment, realized household growth <br />could easily exceed current forecasts. <br />Rental Housine: Demand for 70 general occupancy rental units is calculated for Coon Rapids <br />through 2020. This demand would best be satisfied through replacement/rehabilitation of older <br />rental properties in the submarket. <br />If more land is made available through redevelopment, demand for general occupancy rental <br />housing in Coon Rapids could easily exceed current calculations. Demand for such a <br />development would be the result of Coon Rapid's ability to capture household growth that is <br />forecast for adjacent submarkets, which would easily be accomplished due to its market position <br />and desirable location. <br />Senior Housing: A total of 760 units of senior housing demand is calculated for Coon Rapids <br />through 2020, of which approximately 450 units could be supported within the next five years. <br />The two pending campus -style developments identified in Coon Rapids may satisfy a segment of <br />total demand, particularly the approved 191-unit RKL Land Holding project. <br />Should the RLK project move forward, 250 units of residual demand is calculated through 2015 <br />and would grow to over 550 units of unmet demand by 2020. In addition to service -enhanced <br />housing, affordable and/or market rate active adult housing (ownership and/or rental) may be <br />considered in Coon Rapids as housing market conditions improve. <br />MAXFIELD RESEARCH INC. 120 <br />