Laserfiche WebLink
ANOKA COUNTY HOUSING STUDY CONCLUSIONS <br />Modest <br />30 <br />Southern Leg Submarket General Occupancy Housing Demand <br />2010 to 2020 <br />General Occupancy <br />Demand <br />1 110 <br />For -Sale Demand <br />720 <br />Single -Family I I Multifamily <br />105 615 <br />I , <br />Move -up I I Executive Modest Move -up <br />70 5 490 125 <br />Deep Subs. <br />175 <br />Southern Leg Submarket Excess Senior Housing Demand <br />2020 <br />Senior Housing <br />Demand <br />1,415 <br />Senior Rental <br />1,115 <br />Sub/Aff I I MR kdult I I Congregate I AL MC <br />190 260 340 180 145 <br />Rental Demand <br />390 <br />Shallow <br />95 <br />Senior Ownership <br />300 <br />Market Rate <br />120 <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 the Southern Leg submarket is calculated for 720 units, <br />including both single-family and multifamily product types. There are currently 15 single-family <br />and 60 multifamily vacant developed lots in the Southern Leg. <br />The majority of demand — particularly for single-family — will be met through the <br />rehabilitation/replacement of inhabitable housing units. As larger tracts of land become <br />available for redevelopment, we recommend focusing on multifamily housing products, <br />including townhomes, twinhomes, and condominium units. The proposed Park View <br />condominium project (210 units) would satisfy approximately one-third of total for -sale <br />multifamily housing demand over the decade. <br />Rental Housine: Demand for 390 general occupancy rental units is calculated for the Southern <br />Leg submarket through 2020. With existing rental housing developments (market rate and <br />shallow subsidy) performing near market equilibrium, we recommend delaying development of <br />new rental housing for at least 18 months. As the housing market conditions improve, support <br />for new rental housing will strengthen. <br />Over time, the existing rental housing stock will become increasingly affordable, which will <br />indirectly satisfy demand for shallow subsidy housing. We recommend prioritizing a new <br />market rate development in 2013 or later. <br />MAXFIELD RESEARCH INC. 135 <br />