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� cted Demand for Senior Ownership Housing, 2005 and 2008 Lakes Competitive Market Area � � � � E atedHouseholdBase 8,131 5.170 5.085 18, ;} Homeownership Rate 89% 89% 69% E Is) Potential Loeal Market Base 7,237 4,601 3,509 �$. ;j OwnershipProduct Short-TermPenetration Rate (3 year period) 2.0% 8.0% 16.0% 7. is) Short-Term Demand Potential 145 368 561 '1 �� s) Existing Senior Ownership Units s) Market Overlap with Existinq Senior Rental (50% of all independentsenior rental) Is) Excess l.ocat Demand Potentiai Estimated Additional Demand from Outside Market Area (c� 25% is) Total Short Term Demand (3 Years) i n 2005 s) Projected New SeniorOwnershipand Co-opConstruction(notincludingsubjectproject) ,! Market Overlap with Planned Senior Rental (50% of all planned independent senior rental) Is) Projected Short-Term Surplus or (Shortage) (Over 3 Years) r: . , ated Household Base 9,211 5,593 4,894 19: :} Homeowrrersf�ia Rate 89% 89% 69% € Is) Potential Local Market Base 8.198 4,978 3.377 16, ,} Ownership Product Short-Term Penetration Rate (3 vear period) 2.0% 8.0% 16.0% 6. Is) Short-Terrn Demand Potential 164 398 540 'i. s} Existing Senior Ownership Units s) Market Overlap with Existinq Senior Rentai (50% of all independent senior rental) Is) Excess Local Demand Potential Estimated Additional Demand from Outside Market Area (? 25% is) Total Short Term Demand (3 Years) in 2008 s) Projected New SeniorOwnership and Co-op Construction(not includingsubject project) s} Market Overlap with Planned Senior �Zenta� (50% of ail planned independent senior rental) Is) Projected Short-Term Surplus or (Shortage) (Over 3 Years) �7: {i 1A A�3f�I.tIL{J f5�41xti i �