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<br />Ms. Michelle Wolfe <br />City of Arden Hills <br /> <br />August 20, 2007 <br />Page 7 <br /> <br />D. For-Sale Market Analysis <br />1. Collect data on single-family housing resale values from the Twin Cities MLS; examine <br />price distribution and median sale price of home resales in the draw area. <br />2. Inventory actively marketing single-family subdivisions in the draw area; collect data on <br />available lots, lot sizes, sale prices, absorption period, and residentlbuyer profile. <br />3. Inventory for-sale multifamily developments in the draw area, collect data on the number <br />of units, unit mix, unit sizes, sale prices, sell-out period, in-unit features and common <br />area amenities, and residentlbuyer profile. <br />4. IdentifY pending for-sale developments in the draw area. <br />5. Interview real estate agents, builders, developers, and others regarding overall trends in <br />the single-family and townhome markets and the ability of the site to capture a portion of <br />overall demand; identifY the potential synergies associated with the creation of a master- <br />planned development and the ability of the subject property to capture a higher propor- <br />tion of demand due to the synergies associated with a master planned community. <br />6. Discuss the implications of the findings on the potential to develop additional for-sale <br />housing on the subject property. <br /> <br />Cost: <br /> <br />$4,100.00 <br /> <br />E. Rental Market Analysis <br />1. Inventory larger, newer (post 1990) rental buildings in the draw area; collect data on the <br />number of units, unit mix, monthly rents, subsidy type if applicable, vacancies, in-unit <br />features and common area amenities, and resident/renter profile. <br />2. IdentifY pending rental developments in the draw area. <br />3. Interview real estate agents, rental property owners and managers, and others regarding <br />overall trends in the rental market. <br />4. Discuss the implications ofthe findings on the potential to develop additional rental <br />housing on the subject property. <br /> <br />Cost: <br /> <br />$2,500.00 <br /> <br />F. Senior Housing Market Analysis <br />1. Define the four types of senior housing (adult/few services, congregate/optional services, <br />congregate/service-intensive, and assisted living). <br />2. Inventory senior housing developments in the draw area; include data on the number of <br />units, unit mix, sale prices or monthly rents, subsidy type if applicable, vacancies, in-unit <br />features and common area amenities, and resident profile. <br />3. IdentifY pending senior housing developments in the draw area. <br />4. Interview support service providers regarding the housing and service needs of seniors in <br />the draw area. <br />5. Discuss the implications of the findings on the potential to develop additional senior <br />housing on the subject property. <br /> <br />Cost: <br /> <br />$2,500.00 <br /> <br />MAXFIELD RESEARCH INC. <br />