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<br />CONCLUSIONS ANDRECOMl\ffiNDATIONS <br /> <br />For a senior condominium or cooperative building, unit pricing should include an underground <br />parking stall in "the price. Additionally, the building should feature at least the folloVirIDg <br />common areas: a lobby area., resident mail boxes, a community room, fitness/weJJness room, <br />and a library. <br /> <br />Affordable Senior Housing <br /> <br />For more moderate-income seniors who cannot afford to purchase market rate senior housing, we <br />recommend a 50 to 55 unit affordable senior rental building in Ramsey. Our recommended con- <br />cept is shown in Table 31, along '\7\1ith recommended unit mix, sizes, and rents. , <br /> <br />" <br /> <br />~ <br /> <br />The recommended affordable senior rental community should be at 80% of median income. The <br />unit mix should contain a higher proportion of one-bedroom units than the market rate condo- <br />minium/cooperative, as the community will be marketed to more moderate-income seniors, <br />many of whom are singles. The recommended unit mix, sizes, and monthly rents in Table 31 are <br />similar to Savannah Oaks of Ramsey, which has been successful and currently has a waiting list <br />with 70 people. <br /> <br /> TABLE 31 <br /> AFFORDABLE INDEPENDENT SENIOR RECOMMENDATIONS <br /> CITY OF RAMSEY <br /> January 1006 <br /> No. of Square Market Rent! <br />Unit Type Units Feet Rate Sq. Ft. <br />lER 35% - 40% 700 - 725 $700 - $725 $1.00 - $1.00 <br />lBR+Den 40% - 45% 875 - 925 $825 - $850 $0.94 - $0.92 <br />2BR 15% - 25% 1,025 - 1,100 $1,000 - $1,100 $0.98 - $1.00 <br /> - - <br /> Total 50 - 55 <br />Note: recommended rents are quoted in 2006 dollars. <br />Source: Maxfield Research, Inc. <br /> <br />For an affordable senior rental building, unit pricing should include underground parking for an <br />additional fee, plus the follovving common area amenities: a lobby area.,_~~~dent mail bo_xes, a <br />community room, storage lockers, and a libraryllounge. <br /> <br />Potential Locations <br /> <br />We find that a site within Ramsey Town Center is the best location for rented housing and senior <br />housing. It has the best access and visibility, and would be within walking distance to shopping, <br />jobs, entertainment, and transit. If built here, the recommended communities would have a com- <br />petitive advantage over other multifamily communities in the surrounding area., as potential resi- <br />dents would be attracted to the unique environment and amenities offered by Ramsey Town. Cen- <br /> <br />MAXFIELD RESEARCH INC. <br /> <br />61 <br /> <br />125 <br />