Laserfiche WebLink
Mr. Tim Gladhill <br />City of Ramsey <br />January 25, 2019 <br />Page 10 <br />3. Inventory pending rental developments in Ramsey and the draw area and assess <br />their potential impact on the market. <br />4. Interview owners/managers of rental housing in the area to assess rental trends and <br />the need for additional rental housing in the City. Identify appropriate rental rates <br />and the target markets for new rental construction in the community. <br />H. Senior Housing Market Analysis <br />1. Inventory existing senior housing developments in the draw area, including subsi- <br />dized (deep subsidy), affordable (shallow subsidy), and market rate developments. <br />Projects will include rental and for -sale active adult, congregate, assisted living, and <br />memory care senior housing developments. In addition, collect information on <br />skilled nursing facilities. Map locations of the senior housing stock. <br />2. Analyze data collected from the survey on year opened, number of units, vacancies, <br />pricing, unit types and features, common -area amenities, services provided (if appli- <br />cable), and resident profile. <br />3. Inventory pending senior developments in Ramsey and the draw area and assess <br />their potential impact on the market. <br />4. Interview managers/sponsors of senior housing in the area to assess market trends <br />and the potential need for additional senior housing or skilled nursing care in Ram- <br />sey. <br />I. Housing Affordability <br />1. Review and present income limits, maximum gross rents, and fair market rents by <br />household size in Anoka County. <br />2. Based on income guidelines, present maximum rents based on household size and <br />Area Median Income. <br />3. Based on the average rents by unit type from the General Occupancy Rental Market <br />Analysis Section, present information on income -qualified renter households. <br />4. Based on the median home resale value from the For -Sale Housing Market Analysis <br />Section, present information on income -qualified owner households. <br />5. Identify the number of cost burdened households (i.e. households paying more than <br />30% of their income on housing) in Ramsey. Present cost burdened information for <br />renters and owners. <br />6. Discuss housing voucher program in Ramsey and present information on historic <br />housing vouchers; both ported in and in the City. <br />J. Conclusions and Recommendations <br />1. Quantify demand for housing (subsidized, affordable, and market rate) in Ramsey <br />through 2030 based on employment and household growth projections, pent-up de- <br />mand, turnover/mobility, and estimated replacement needs. <br />2. Identify potential target markets for new for -sale, rental, and senior housing. <br />MAXFIELD RESEARCH AND CONSULTING, LLC <br />