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ANOKA COUNTY HOUSING STUDY CONCLUSIONS <br />Modest <br />395 <br />East Bethel & Bethel Submarket General Occupancy Housing Demand <br />2010 to 2020 <br />I Single -Family I <br />1,310 <br />1 <br />For -Sale Demand Rental Demand <br />1,460 I 75 I <br />I <br />Multifamily Deep Subs. Shallow Market Rate <br />150 25 10 40 <br />Move -up I I Executive Modest Move -up <br />785 130 75 75 <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 Housing: Currently, the East Bethel & Bethel submarket has 130 vacant developed <br />single-family lots and an additional 75 future single-family lots; no vacant or future multifamily <br />lots are currently identified. In order to meet all for -sale housing needs in the East Bethel & <br />Bethel submarket, approximately 1,100 single-family lots and 150 multifamily lots will need to <br />be delivered through 2020. <br />Existing inventory levels of single-family lots (vacant developed only) will be sufficient for <br />approximately 1.5 years. <br />Rental Housing: Although demand for 75 units of general occupancy rental housing is <br />calculated, we recommend delaying development of a rental community until much later in the <br />decade (2017 or later). At that time, market support for moderately priced market rate housing <br />development will likely be sufficient to support a 40- to 50-unit community. <br />Senior Housing: Demand is not sufficient to support a senior housing community in the East <br />Bethel & Bethel submarket. In the near term, senior households residing in East Bethel & Bethel <br />are migrating to facilities in southern Anoka County in order to find senior housing alternatives <br />that meet their needs. <br />The senior population is growing significantly and may provide sufficient support for a senior <br />housing community by mid -decade. At that time, demand would be greatest for an affordable <br />and/or market rate active adult rental development. <br />MAXFIELD RESEARCH INC. 122 <br />