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Ramsey's market share of the Ramsey Station Draw Area building permits averaged 52.6 percent <br />for the period 1991 through 1998. Annual market share fluctuated between 42.5 and 61.7 <br />percent during this period. Residential development slowed during the 1999 to 2001 time period <br />due to a shortage of residential lots. Development accelerated in 2004. Ramsey's residential <br />development declined between 2008 and 2011, while market share increased. From 2008 to <br />2012, Ramsey's market share of Ramsey Station Draw Area building permits has averaged 72.2 <br />percent. Market share increased to 90.8 percent in 2012 year-to-date due to a 238-unit apaitl_uent <br />building. <br />Multi -Family Development Trends <br />Development potential for most of the Ramsey Station areas is likely to be some form of multi- <br />family housing which represents a residential submarket. Multi -family housing includes for -sale <br />and for -rent multi -family buildings, duplexes, and townhomes. The historic market share of <br />multi -family housing in relation to total housing in the Northstar Corridor Draw Area is <br />contained in Table 4-17. <br />Year <br />Table 4-17 <br />NORTHSTAR CORRIDOR DRAW AREA, NORTHSTAR CITIES, OTHER CITIES, AND RAMSEY <br />MULTI -FAMILY BUILDING PERMITS; 1991 TO 2012 <br />Northstar Corridor Draw Area <br />Multi -Family Northstar Cities Other Cities Ramsey <br />Total Number Percent Number Percent Number Percent Number Percent <br />1991 1,653 171 10.3 % 165 96.5 % 6 3.5 % - - % <br />1992 2,292 392 17.1 320 81.6 72 18.4 - - <br />1993 2,263 440 19.4 440 100.0 - - - - <br />1994 1,812 288 15.9 165 57.3 123 42.7 - - <br />1995 1,899 124 6.5 110 88.7 14 11.3 10 9.1 <br />1996 2,169 74 3.4 45 60.8 29 39.2 - - <br />1997 1,963 134 6.8 82 61.2 52 38.8 9 11.0 <br />1998 2,708 250 9.2 156 62.4 94 37.6 105 67.3 <br />1999 2,846 308 10.8 292 94.8 16 5.2 8 2.7 <br />2000 2,267 323 14.2 286 88.5 37 11.5 12 4.2 <br />2001 2,509 542 21.6 420 77.5 122 22.5 15 3.6 <br />2002 2,657 399 15.0 324 81.2 75 18.8 107 33.0 <br />2003 3,687 977 26.5 919 94.1 58 5.9 279 30.4 <br />2004 3,855 1,154 29.9 914 79.2 240 20.8 398 43.5 <br />2005 2,530 927 36.6 604 65.2 323 34.8 300 49.7 <br />2006 1,737 522 30.1 344 65.9 178 34.1 109 31.7 <br />2007 1,155 509 44.1 240 47.2 269 52.8 141 58.8 <br />2008 500 182 36.4 40 22.0 142 78.0 18 45.0 <br />2009 511 62 12.1 4 6.5 58 93.5 - - <br />2010 675 103 15.3 59 57.3 44 42.7 - - <br />2011 637 123 19.3 123 100.0 - - - - <br />2012 * 873 NA NA NA NA NA NA 238 NA <br />Average 2,015 381 19.1 % 288 70.8 % 93 29.2 % 72 18.6 % <br />*Through September 2012. <br />Average excludes 2012. <br />Note: Multi -family includes townhomes and duplexes. <br />Source: Metropolitan Council and U.S. Census. <br />4-18 <br />