Agenda - Planning Commission - 09/01/2016

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FOR-SALE HOUSING MARKET CONDITIONS Planned and Proposed Housing Communities Maxfield Research interviewed planning staff at each of the communities within the Market Area regarding planned or proposed for-sale multifamily residential communities. Table 18 illus- trates the pending and proposed communities identified within each city. The following summa- rizes planned multifamily communities. Ramsey The City of Ramsey has approximately 40 residential communities marketing or under construc- tion at this time; these include both single-family as well as multifamily residential communities. In total, there are about 1,200 planned townhomes in the community. The most prominent of these planned communities is Ramsey Town Center, located at the corner of Highway 10 and Armstrong Boulevard. Phase One of Ramsey Town Center is under construction at this time with a number of different townhome and single-family builders. Based on our research, the majority of units being built in Ramsey are priced under or near $200,000. Since these units are affordable to many workforce households, we find that existing and planned communities are satisfying much of the need for for-sale workforce housing. Anoka There are two large-scale redevelopments in the planning phase in Anoka; the North Central Business District("NCBD") and the Heart of Anoka. The NCBD comprises about 50 acres of land, bordered with the Rum River on the west, High- way 10 on the north, 4th Avenue to the east, and Main Street to the south. Currently the redevel- opment area includes the following amenities: the Anoka Public Safety Center, City Hall, Anoka County Government Center, retail and commercial businesses along Main Street, and the Rum River and the Rum River Trail. The City has selected David Bernard Builders, a division of Rottlund Homes, as the developer of the community. At this time, construction would likely en- sue on portions of the redevelopment in summer 2006. It its estimated approximately 200-to- 300 housing units would be developed. City officials estimate a mix of housing types, including for-sale general occupancy, senior ownership, and rental housing. Most of these units are likely to be priced out of reach of moderate income households. The Heart of Anoka is a planned community that would coincide with the planned Northstar Cor- ridor commuter line between Downtown Minneapolis and St. Cloud. Anoka's Commuter Rail Transit Village would be planned for medium- and high-density residential, as well as incorpo- rating office, commercial, and light industrial. According to the City of Anoka, the long-term goal is to develop between 800 and 1,200 housing units. At this time the community is still in the planning phases and it is unknown when the community would proceed. MAXFIELD RESEARCH INC. 34