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MEMORANDUM <br />DATE: May 19, 1988 <br />TO: Jim Andre s <br />FROM: Craig A. Waldron <br />/`ABJECT: Multi -family Housin Demand <br />A number of council members have asked gor to absorbathenhousing <br />as to <br />whether the city actually has the capacityto <br />units that are currently being discussed with arty n h the <br />win <br />Lakes Redevelopment Area and the Railing property <br />City <br />Hall. I have attached three ,.toms that <br />in ntheg city with <br />firm the fact <br />that substantial iabsorption capacity <br />respect to mul�fam y <br />1. Pub -Ana : I have included r COPY <br />Of the multi family <br />ed <br />n the <br />housing foraecast that is the viewpoint iof the <br />aforementioned study. It <br />consultants that Roseville is in an excellent location <br />to capture a large share of fuLu �e:dic egd 1�0 lunitshouspezr <br />development. Thus# the study P 1 <br />year in absorption rap�►cibtayaead through <br />tjhis analysis that <br />have devolop*d a char <br />compare the absorption cast tliataan additiond the nalo150 <br />projects. The chart points eFu <br />units could be absocbod abovecnd beyo:Id those already <br />under consideration. <br />f.L at\aI�AN �.��, ■ - n•L6.1 5hono.hon & Associates <br />isaf101�iP u�wee mom. <br />!preliminary market analysis for Ca.n-A�aorican Reality <br />attached. Tbo correspondence points out that for thtroup-ais <br />is <br />considerableo%,idanco of Pent up <br />rental unit 1i Roseau i l to and that the markets is very <br />the roject <br />broad. They state that in their <br />nn on a to the <br />as propoaod roptosonts an oxe:egl fot rop <br />apartuant market: in Roseavilic <br />than Aunt, who has worked extensively <br />in thee City of Roueevillee withndee spect th of Wtale <br />him <br />market, has submitted correspo in Runt is pointing <br />viewpoint of the existing market. Mr. <br />out that there is a pent up demand for rental property <br />in Roseville, particularly an it rolat two income <br />incaty <br />nestora, trafidfarrad f;rL e$elQna e, <br />families with no children, and split familiees. <br />He a 160 <br />states that babod on the extensive redevelopment c= the <br />City in terms of office and offito moat this eecptctod <br />will have to develop new housing <br />demand. <br />