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Master Development Plan Draft
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10/13/2008 11:28:29 AM
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10/13/2008 11:25:47 AM
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Master Development Plan Draft
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Master Development Plan Draft
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10/13/2008
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<br />District Market Analysis <br /> <br />TABLE 5 <br />PROJECTED DEMAND FOR OFFICE SPACE <br />ARDEN HILLS MARKET AREA <br />2007 to 2015 <br /> <br />Demand from Pro. ected Em lovment Growth <br /> <br />Projected increase in employment in the Arden Hills Market Area, 2007 to 2015 <br />( times) Percentage of projected emploYlTIent growth that will be office jobs <br />( equals) Projected increase of office jobs in the Market Area, 2007 to 2015 <br /> <br />(times) 200 square feet of office space per employee <br /> <br />(equals) Total Market Area office space demand from growth, 2007 to 2015 <br /> <br />(times) Percent capturablc by Downtown Ardcn Hills <br />( equals) Projected office demand in 2007 to 2015 <br /> <br />(nlinus) Available and planned competitive leasable office space in 2007* <br />( equals) Projected demand for small business office space in Market Area <br /> <br />(times) Estimated capture rate in Downtown Arden Hills Redevelopment Area <br /> <br /> 5,919 new jobs <br />x 300/0 <br /> ],776 new office <br />x 200 sq. ft./emp. <br /> 355,]31 <br />x 30% <br /> ] 06,539 <br /> ] 20 076 sq. ft. <br /> -]3,537 sq. f1. <br />x 150/0 - 200/0 <br /> sq. ft. <br /> <br />*Estimated % of Market Area office space that would be competitive with DT Arden Hills: <br />New Brighton -100/0; Roseville-25%: Shoreview-500/0: Arden Hills-l 000/0 <br /> <br />Source: Maxfield Research Inc. <br /> <br />The New Lake Johanna Boulevard 3-9 <br />
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