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Market Analysis for Downtown Redevelopment ***Draft***
<br />City of Centerville Economic Development Authority
<br />April 3, 2023
<br />3.9Profiles of Recently-Developed Rental Communities in the PMA, March 2022 (Continued)
<br />Vacant Unit Unit
<br />Rent per
<br />Units
<br />UnitsMixTypeSize of UnitBase Rent
<br />PropertySquare Foot
<br />Market-Rate Rental Housing
<br />Timber Ridge Phase II 393Studio570$1,050$1.84
<br />Wi-Fi, water, sewer, and garbage are
<br />22500 Everton Ave N1BR665$1,240-1,290$1.86-1.94
<br />all included. Units include washer
<br />Forest Lake2BR923-1,073$1,479-1,720$1.60-1.60
<br />and dryer. Patio with grills and on-
<br />site fitness center included. Surface
<br />Year Built: 2023
<br />parking lot with garages available.
<br />
<br />1921820Studio480$1,235$2.57
<br />The Barnum Apartments
<br />Rent includes water, sewer, and
<br />1711 County Road E1141BR480-1,035$1,385-1,780$1.72-2.89
<br />trash. Courtyard with grills, dining
<br />White Bear Lake582BR1,154-1,329$1,886-2,260$1.63-1.70
<br />area, fire pit, community launce with
<br />kitchen and dining area, outdoor
<br />Year Built: 2021
<br />pool, fitness center, granite
<br />countertops, and washer and dryer in
<br />unit. Surface lot parking with garages
<br />available.
<br />Jack Pine Place 845301BR650-805$1,500$1.86-2.31
<br />Rent includes water, sewer, and
<br />14672 N Finale Ave462BR850-1,193$1,900$1.59-2.24
<br />trash. Includes stainless steel
<br />Hugo83BR1,543$2,250$1.46
<br />appliances, dishwashers, in-unit
<br />washer/dryer, patio/balcony, walk-in
<br />closets, and granite countertops.
<br />Year Built: 2021
<br />Surface parking with garages
<br />available.
<br />911512Studio459$1,302$2.84
<br />Encore Apartments
<br />Utilities include trash removal.
<br />1081 SW Fourth St441BR639-759$1,365-1,396$1.84-2.14
<br />Includes stainless steel appliances,
<br />Forest Lake312BR924-1,085$1,750-1,794$1.65-1.89
<br />dishwashers, in-unit washer/dryer,
<br />43BR1,239$2,728$2.20
<br />some units with patio/balcony, walk-
<br />Year Built: 2020
<br />in closets, and granite countertops.
<br />Surface parking with underground
<br />parking available.
<br />---Continued on Next Page---
<br />* Data collected in February and March 2023
<br />Source: Costar; websites, interviews with leasing agents; LOCi Consulting LLC
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