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<br />Centerville Senior Housing Study <br /> <br />June1 1996 <br /> <br />.. <br /> <br />Population, household and employment growth is forecast to remain strong through the <br />year 2000. The study area is expected to add 2,982 households and Centerville is <br />expected to grow by 822 households by the year 2000. <br /> <br />4 <br /> <br />.. In examining the age distribution of persons 55 or older in 1995, the data revealed the <br />number of persons aged 55 or older will increase substantially by the year 2000. The <br />majority of this growth will be concentrated in the younger senior population (those aged <br />55 to 74), indicating demand for a senior project with few, ifany services. <br /> <br />.. Typically, seniors with household incomes ofless than $15,000 per year are a primary <br />market for subsidized housing. Households with incomes of$15,000 to $25,000 per year <br />are a market for moderate-rent senior housing while middle and upper market rents are <br />affordable to seniors with incomes above $25,000 per year. Although senior household <br />incomes in the study area were relatively well distributed among all income intervals, there <br />are not enough households in upper income brackets to support an upper rent project. <br />Thus, we recommend a modest-rent project that would appeal to the largest number of <br />senior households. In addition to the households with incomes of$15,000 or greater, <br />some additional demand may come from households in the $10,000 to $15,000 per year <br />range that have equity in their homes. <br /> <br />.. <br /> <br />Currently, the only senior housing project in the study area is, Willow Ponds, the 47 unit <br />Tax Credit Project, located in Lino Lakes, which currently has six vacant two bedroom <br />units. <br /> <br />.. Because of the lack of market rate senior projects within the study area, projects located <br />in communities adjacent to the study area were examined. All of the projects examined <br />are fully occupied with a waiting list or have a very low vacancy rate, with the exception <br />of Oak Hills Manor in Circle Pines, which has 28 two bedroom vacant units. <br /> <br />4 <br /> <br />.. Twenty-three interviews and 43 surveys were conducted to determine senior housing <br />needs in the Market Study Area. The interviews and surveys identified the need for senior <br />housing and provided valuable insights regarding the size of the project and the type of <br />units that should be developed. <br /> <br />4 <br /> <br />-- <br />--- <br />Community Partners, Inc. <br /> <br />4 <br />