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TWIN LAI�ES, Roseville, Minnesota <br />Market Assessment &. Demand Analysis Condo-Townhouse Market Assessment <br />throughout the entire <br />demographic and ea <br />region as a whole. <br />Twin Cities metro area and beyond. Therefore, we pay close attention to <br />nomic indicators for not only the competitive market area, but also the <br />DEMOGRAPHIC TRENDS <br />Demographictrends provide valuable insight regarding the future demand for ownership housing <br />region-wide and the amount of development supportable within the competitive market area. <br />We have analyzed data on population and household growth, employment growth, household <br />incomes, household tenure, as well as residential building permitting trends. This information is <br />summarized in the tables on tk�e following pages. Historical data is from the U.S. Census. <br />Current year estimates and projections were developed by GVA Marquette Advisors based upon <br />our review of estimates and projections by the Twin Cities Metropolitan Council, the State of <br />Minnesota, and Spatial Reengineering Consultants (SRC), a nationally recognized econometric <br />forecasting fi�xn. <br />The following are key points from our review of demographictrends. <br />In 2004, the competitive market area has an estimated population of 106,865. This <br />area has an estimated 45,457 households. About 3.9% of the metro area's population <br />and 4.1 % of its households currently reside in the competitive market area. <br />Meanwhile, nearly 4.9% of the region's jobs were located within the competitive <br />market area according to the 2000 Census. On this basis, it is reasonable to predict <br />that the competitive market area has an opportunity to capture an increasing share of <br />the region's forecasted population and household growth in the years ahead. <br />Nonetheless, this will require an increase in housing opportunities in this area through <br />redevelopmentprojects such as that proposed at Twin Lakes. This trend is supported <br />by increasing traffic congestion and a growing interest in urban living and residences <br />which are located close to job centers and urban amenities. The miYed-use design <br />and overall quality of the proposed developmentproject, paired with its location in <br />close proximity to transportation corridors and major job centers, including both the <br />Minneapolis and St. Paul CBDs, make Twin Lakes an attractive residential <br />community for Twin Cities homebuyers. <br />GVA Marquette Advisors Page 8 <br />