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Ms. Chloe McGuire Brigl <br />City of Ramsey <br />August 15, 2019 <br />Page 4 <br />RECOMMENDED HOUSING DEVELOPMENT <br />CITY OF RAMSEY <br />2019 to 2030 <br />Purchase Price/ No. of Development <br />Monthly Rent Range' Units Timing <br />Owner -Occupied Homes <br />Single Family <br />Entry-level <$300,000 350 - 400 Ongoing <br />Move -up $300,000 - $500,000 550 - 600 Ongoing <br />Executive $500,000+ 350 - 400 Ongoing <br />Total 1,250 - 1,400 <br />Townhomes/Twinhomes/Detached Townhomes` <br />Entry-level <$250,000 225 - 250 Ongoing <br />Move -up $250,000 - $400,000 200 - 225 Ongoing <br />Executive $400,000+ 150 - 175 Ongoing <br />Total 575 - 650 <br />Total Owner -Occupied 1,825 - 2,050 <br />General Occupancy Rental Housing <br />Market Rate Rental Housing <br />Apartment -style (moderate) $900/EFF- $1,800/2BR+D 175 - 200 2021+ <br />Apartment -style (luxury) $1,100/EFF - $2,600/3BR 100 - 120 2023+ <br />Townhomes $1,600/2BR - $1,900/3BR 120 - 140 2020+ <br />Total 395 - 460 <br />Affordable Rental Housing <br />Apartment -style Moderate Income3 70 - 80 2022+ <br />Townhomes Moderate Income3 40 - 50 2020+ <br />Total 110 - 130 <br />Total Renter -Occupied 505 - 590 <br />Senior Housing (i.e. Age Restricted) - 2019 to 2024 <br />Senior Coop./Ownership Active Adult $150,000 - $200,000+ 60 - 70 2020+ <br />Active Adult Affordable Rentals Moderate Income3 70 - 80 2020+ <br />Indepdent living/Congregate $1,800/1BR-$2,500/2BR 80 - 100 2020+ <br />Assisted Living $3,000/EFF - $5,500/2BR 20 - 24 2024+ <br />Memory Care $4,000/EFF - $6,000/2BR 40 - 50 2020+ <br />Total 270 - 324 <br />Total - All Units 2,600 - 2,964 <br />1 Pricing in 2019 dollars. Pricing can be adjusted to account for inflation. <br />2 For -Sale Multifamily includes a variety of multifamily product types; including twinhomes, villas, detached townhomes, row homes, quads, <br />etc. <br />3 Affordablity subject to income guidelines per Minnesota Housing Finance Agency (MHFA). See Table HA-1 for Anoka County Income limits. <br />4Alternative development concept is to combine active adult affordable and market rate active adult into mixed -income senior community <br />Note - Recommended development does not coincide with total demand. Ramsey may not be able to accommodate all recommended housing types <br />based on land availability and development constraints. <br />Source: Maxfield Research & Consulting, LLC <br />MAXFIELD RESEARCH AND CONSULTING, LLC <br />