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Senior Housing Demand Assessment: Ramsey, MN <br />► Stoney River and Suite Living Ramsey are the only competitive properties in the PMA. Suite <br />Living opened in 2020, 1.1 miles from the Site. It has 18 assisted living and 14 memory care <br />units. Stoney River is 3.1 miles from the subject Site. It was built in 2015 and contains 48 <br />assisted living and 24 memory care units. Accounting for draw area overlap, Suite Living is <br />estimated to be 95% competitive with the Site and Stoney River is estimated to be 85% <br />competitive. <br />► The eight competitive properties outside the PMA range in distance of 4.0 miles from the <br />Site (Suite Living Anoka) to 14.8 miles (Vista Prairie at Eagle Pointe in St. Francis). While they <br />are estimated to be only 10% to 20% competitive with the Site, collectively they account for <br />over half of the competitive units serving the PMA. This includes all the competitive <br />independent units, since there are no competitive properties in the PMA that offer this <br />service -level. <br />► Six properties provide independent living — all of which are outside the PMA. The closest is <br />Benedictine Living in Anoka, followed by The Plaza — Cityview by Vivie. Combined, they <br />supply the PMA with 50 competitive independent units. <br />► Ten properties provide assisted living housing. The closest are Suite Living Ramsey and <br />Stoney River, which are in the PMA, followed by Suite Living Anoka and Benedictine Living, <br />which are outside the PMA in Anoka. Overall, Suite Living and Stoney River account for 56% <br />of the PMA's competitive supply. <br />► Nine properties provide memory care housing, including two that are located in the PMA <br />(Suite Living and Stoney River). They account for 63% of the PMA's competitive supply. The <br />other seven properties are only slightly competitive, with each supplying the PMA with just <br />a few competitive units. <br />► Most of the competitive properties allow residency to some lower -income seniors who <br />utilize the Elderly Waiver program to pay for services. It is estimated that about 85% of the <br />competitive assisted living and memory care units serving the PMA are occupied by private <br />pay residents and that 15% are occupied by Elderly Wavier residents. <br />► Vista Prairie at Eagle Pointe will be the newest competitive property when it opens in late- <br />2025 in St. Francis. It is a 135-unit property that contains independent, assisted living, and <br />memory care housing. It is the farthest competitive property from the Site (14.8 miles) and <br />is estimated to be just 10% competitive when accounting for draw area overlap. <br />► Affinity at Ramsey is the newest senior housing development in Ramsey. It is a senior (55+) <br />rental building that does not offer meals or services, and thus its target market is more <br />active than the target market for the subject development. Since there is very little market <br />overlap with the subject development, it would not be directly competitive and thus, its <br />units are not included in Table 6. <br />Viewpoint Consulting Group, Inc. <br />Page 10 <br />November 5, 2025 <br />