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Senior Housing Demand Assessment: Ramsey, MN <br />Elderly Waiver Memory Care <br />The calculation of unmet demand for Elderly Waiver memory care units is shown in Table 11. <br />The methodology to calculate unmet demand for Elderly Waiver memory care is the same as <br />for market rate memory care, with the exception being the income -qualified calculation. The <br />income -qualified base is the same as for assisted living — seniors with incomes below about <br />$50,000, or the maximum income to qualify with a spenddown. <br />An estimated 449 seniors living in the PMA as of 2025 had a memory impairment. An estimated <br />32% are income -qualified for the Elderly Waiver program, or 145 seniors in 2025. It is estimated <br />that 30% of the qualified population are a market for memory care housing. This results in <br />demand for 43 Elderly Waiver memory care units in the PMA in 2025. <br />An estimated 30% of the demand for Elderly Waiver memory care housing would come from <br />seniors residing outside of the PMA. This additional demand brings the total demand within the <br />PMA to 62 units in 2025 growing to 81 units in 2030. <br />The next step in calculating demand is to subtract competitive supply from total PMA demand. <br />A total of 54 competitive units were identified in Table 6. An estimated 15% of the units in the <br />PMA are occupied by Elderly Waiver residents. Subtracting 15% of the units that are estimated <br />to be Elderly Waiver, minus a 5% vacancy factor, from total demand results unmet demand for <br />54 units in the PMA in 2025, growing to 73 units in 2030. <br />It is estimated that the Site in Ramsey can capture 60% of the unmet Elderly Waiver demand <br />potential in the PMA. This results in unmet demand on the Site for 33 Elderly Waiver memory <br />care units in 2025 increasing to 44 units in 2030. <br />Viewpoint Consulting Group, Inc. <br />Page 22 <br />November 5, 2025 <br />