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Centerville Senior Housing Study June, 1996 <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 /> 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, if any services. <br /> Typically, seniors with household incomes of less 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 /> • 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 /> 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 /> 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 /> • <br /> Community Partners, Inc. 4 <br />