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<br />, <br />, <br />r <br /> <br />Roseville, Minnesota <br />Multiple Family Unit Forecast - Supply/Demand <br /> <br />**PES-6 <br />*Demand Study Areas <br />1986-2000 Supply <br /> <br />2250 Units 1213 <br /> <br />***T.L. Plan <br />SupplY <br /> <br />465 <br />(375)**** <br /> <br />*City Wide - Broader than supply areas. <br />**See Exhibit A <br />***PFS Study Area #4 <br />****PFS T.L. Study Area projection (Study Area 4) <br /> <br />Total <br />Supply <br /> <br />1670 <br /> <br />Over/ <br />Under <br />Supply <br /> <br />(580) <br /> <br />From the information available as summarized above, it is evident <br />that the modified Twin Lakes Plan Amendment proposal now being <br />considered is well within the demand limits which have been <br />identified for all of Roseville. In the past two years <br />according to the City, there have been three multiple family <br />complexes constructed. These are: 1) Burtgers completion of a <br />59-unit apartment complex; 2) Rosepointe, a 212-un~ senior <br />citizen housing development; and 3) Villa Park, a lOa-unit senior~J~O <br />citizen condominium. The total of 371 housing un~ts, is an <br />average of 185 units per year. This figure is slightly above the <br />forecasted demand for 150 units per year, to the year 2000. It <br />appears that developers are building the forecasted amount of <br />multi-family units. This situation therefore suggests the units Sollo <br />proposed within the Twin Lakes area is reasonable. -- <br /> <br />Office: As we interpret the revised Twin Lakes plan, 545,000 <br />square feet of commercial office space is being proposed. <br />Studies and data sources previously referenced project the <br />average annual absorption rate for Roseville will be 90,000 <br />square feet per year from 1986 to 1990, 100,000 square feet per <br />year from 1991 to 1995, and 65,000 square feet annually from 1996 <br />to the year 2000. This indicates a forecasted demand for <br />approximately 1,275,000 square feet of office space in Roseville <br />in the 15 years between 1986 and 2000. To be noted however, "The <br />northeast quadrant (including Roseville) has been one of the <br />slowest (office) growth areas in the metropolitan area." (PFS <br />page 16). The northeast quadrant grew by an average of about <br />250,000 square feet per year over the past seven year period. <br />Between 1980 and 1985, 888,700 square feet of office space was <br />constructed. As of mid-1986, 728,900 square feet, or 82%, of the <br />office space was occupied. The absorption rate from 1980 to 1985 <br />was therefore 121,500 square feet per year. The table cited <br />below from the PFS report summarizes in more detail the <br />absorption rates experienced. <br /> <br />9 <br /> <br />'. <br /> <br />R-0002679 <br /> <br />\j <br />