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City of Arden Hilts - Comprehensive Plan - DRAFT 7.4 Housing Issues Three primary housing issues will need to be addressed by Arden Hills in the next 20 years. They include housing diversity, housing affordability, and housing quality. Each is discussed below. 7.4.1 Housing Diversity Life-cycle housing which was referenced in the housing goals is a common term used to describe the provision of housing types for all stages of life. Life-cycle housing is based on the premise that as people go through life, their housing needs change. A young person getting out of school and just starting out usually cannot afford to own a home so they often begin by renting. As a person grows older, they often establish a family and buy their first home, sometimes either a starter home or townhome. As a family's income grows, they may move up to a larger home. Once the children leave and the family size decreases, parents often move back to a smaller home with fewer maintenance needs or to one of the growing number of either single-family or multi-family housing options that has an association that take care of home and property maintenance. Eventually, as a person ages, there is often a need for assisted living or an extended care facility. w;"...... ~ TheLifeCy,'/e ~.-6 HtJlI'''''gChui" a.~Jt~ ~ ef> '""",." "", ~""" ~~ ~~~'~:Ci~:::::: ~,"'''m''''_' Sr.II",L'm~ ~ ;'::;;:::. tt' Housing in Arden Hills today is primarily focused on one stage of the housing Iife- cycle, move-up housing. Ironically, a significant number of units constructed in Arden Hills during the 1970s were oriented to a first-time homebuyer market. As housing prices have risen over the past three to four decades, what was once priced for a first-time buyer is now classified as move-up housing due to escalated prices. Arden Hills does still have a limited supply of more entry level housing. In 2007, there were 285 units in the Arden Manor manufactured home community and approximately 80 percent of the units were owner occupied. Rental housing is another component of life-cycle housing that needs to be addressed,. Rental housing is an important component of the overall housing suppiy since it provides options for both the beginning and later stages of the life- cycle chain. It may aiso serve the needs of several segments of the population including retail service empioyees, seniors, young adults just entering the workplace and economically disadvantaged households. At the present time, DRAFT 5/15/2008 l:~~~"~nf:'.Ve~y~~~~> i Deleted: over time 42