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<br />District Market Analysis <br /> <br />A summary of demand calculations for general occupancy rental housing and senior <br />housing in the study are described further in the following sections. <br /> <br />General Occupancy Demand <br /> <br />Sufficient demand was found to support. a total of 228 market rate and 183 affordable <br />units of general occupancy rental housing in the study area. It was felt that the study area <br />could support a stand-alone market rate building if an appropriate site becomes available <br />for development. However, a 100 percent affordable building is not recommended as <br />rents would not make project development costs financially feasible~ Rather, it is <br />suggested that any general occupancy rental project include a mix of market rate and <br />affordable units in a medium- to high-density building (for example, 80 percent market <br />rate units and 20 percent affordable units) as the market rate rents would help support <br />high land acquisition and development costs. <br /> <br />Senior Housing Demand <br /> <br />There is sufficient demand to support 389 adult units, 620 ownership units, 340 <br />congregate units, 202 assisted living units, and 185 memory care units. It is <br />recommended that any new construction of senior housing in the study area be done as a <br />combination of senior housing types in the form of a senior campus as the only senior <br />housing types that could support a stand-alone buildings would be independent senior <br />housing. <br /> <br />Furthermore, senior housing in the study area could be affected by additional product <br />added at TCAAP or other location in the Market Area. Any future development of senior <br />housing in the study area should revisit Market Area conditions in order to find sufficient <br />demand to support additional product in the Market Area. <br /> <br />Condominium and Townhouse Demand <br /> <br />Based on findings in the TCAAP study, the study found a total potential demand for <br />about 100 units of condominium housing, all of which would be captured on the TCAAP <br />site. If the estimated potential demand for the 100 condominium units is unmet at the <br />TCAAP site, there would be an opportunity for a redevelopment site in the study area to <br />capture a portion of the unmet demand. <br /> <br />Additionally, it is recommended that townhouses be developed in the study area. Any <br />future redevelopment site in the study area would likely be unable to support the higher <br />density required to support an affordable townhouse product in this marketplace. <br /> <br />3-2 Guiding Plan for the 82 District <br /> <br />20 October <br />