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City of Arden Hills – 20430 Comprehensive Plan <br /> <br /> <br />Approved: September 28, 201809 Amended: December 12, 2016 <br />7-15 <br />1-BR $483 $805 $1,288 <br />2-BR $579 $966 $1,545 <br />3-BR $669 $1,115 $1,784 <br />4-BR $747 $1,245 $1,992 <br /> <br />The mean assessed value of housing in Arden Hills in 2007 was $291,778 with a median of <br />$272,100 (Figure 7.7). The average housing value in 2015 was $281,300. Based on 2007 <br />assessed property values from Ramsey County, 25 percent of the housing was at or below <br />the affordable home price of $206,800230,500 and approximately 13 percent was at or <br />below $152,000. <br /> <br />In January December of 201406, the Metropolitan Council released a report entitled “Thrive <br />2040 Housing Policy Plan”“Determining the Affordable Housing Need in the Twin Cities <br />2011-2020”. The report not only forecasts the regional need by 20320 for newly constructed, <br />affordable housing but it allocates each community’s share of the regional need. The total <br />need for newly constructed housing in the Twin Cities is estimated to be 37,90051,000 units <br />between 20211 and 20320. <br /> <br />Each community’s share of the regional need is allocated based on a number of factors. <br />According to the Metropolitan Council, 30.6 percent of new housing units in all cities should <br />be affordable. Allocations are then adjusted by job proximity, the composition of the housing <br />stock and access to transit service. Based on the formula, the Metropolitan Council has <br />allocated a need for 288 373 affordable housing units to Arden Hills between now and the <br />year 20320. <br /> <br />In order to ensure that this need can be met, Arden Hills has allocated several land use <br />classifications on the Future Land Use Map with development standards that may <br />accommodate affordable housing on TCAAP. In the remainder of Arden Hills, the City <br />expects the majority of new affordable housing units to be constructed in areas designated <br />Formatted: Left <br />Comment [HR1]: Mike’s map <br />Formatted: Not Highlight <br />Formatted: Not Highlight <br />Formatted: Not Highlight <br />Formatted: Highlight <br />Comment [HR2]: <br />Comment [HR3]: ? <br />Comment [EZ4R3]: Look at Figure B-3 on page <br />152 of this document: <br />https://metrocouncil.org/METC/files/54/54ec40bb- <br />d6ce-45bb-a571-ee00326ccd20.pdf <br />Formatted: Strikethrough <br />Formatted: Not Highlight