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CONCLUSIONS AND RECOMMENDATIONS Single Fmnily Housing As a first-tier suburb in the Twin Cities Metropolitan Area, the City of Roseville has a very li- mited amount of vacant land. Should the land supply be greater in the City, we acknowledge that demand for single-family housing would be very strong. However, due to the limitations of land availability, we recommend that the City optimize the remaining vacant parcels by develop- ing avariety of multifamily housing product types rather than single-family housing. The mod- est number of single-family housing recommended for the City of Roseville in the following dis- cussion is a factor of the replacement need of older single-family homes. Due to the age, quality and price of Roseville's existing housing stock, most of the existing hous- ing stock appeals to and meets the housing needs of entry-level homeowners. Homeowners who desire move-up and executive housing, which is typically priced at $350,000 and above, have likely been forced to relocate to adjacent communities, including Arden Hills, New Brighton, Moundsview, Shoreview and North Oaks, since modest housing product in this price range is available in the City. We believe there is an opportunity to offer higher-amenity homes that would be attractive to households in the existing resident base who desire to continue to reside in the City but find that little housing is available to meet their preferences. We recommend that an additiona140 to 50 single-family homes be built in the City, of which 25 to 30 would be move-up homes priced from $350,000 to $500,000 and 15 to 20 would be executive homes priced above $500,000. As stated earlier, should additional land become available for single-family housing, we believe the City could support a much higher number of new single-family homes across a wider price point spectrum. It is important to note that some demand for single-family housing will be satisfied by the exist- ing housing stock (this turnover demand is not included in the above recommendations). As the study discussed, much of the growth in Roseville is forecast in the older adult and senior age co- horts, which will support demand for new senior housing products in the City of Roseville. As these older adults and seniors relocate to other housing options, their existing single-family homes will become available for new younger households to purchase a home in Roseville. For-Sale Multifamily Housing Based on the availability of land, demographics of the resident base and forecast trends, we find demand for 185 new attached multifamily housing units. These attached units could be devel- oped as townhomes, twin homes or a combination of the two housing products. Due to the con- tinued downturn in the condominium market, we do not recommend a condominium component through 201 S. The following provides additional details on the target market and development recommendations for each for-sale multifamily housing product recommended. In total, we recommend development of 60 to 70 entry-level multifamily units priced below $275,000 and 40 to 50 upper-end multifamily units priced above 5300,000. Due to the cur- rent recession and slowdown in the for-sale market, we recommend that the City of Roseville wait until at least 2012 to move forward with additional for-sale multifamily housing product. MAXFIELD RESEARCH INC. 89