CC_Minutes_2009_1116 - Laserfiche WebLink

Home

CONCLUSIONS AND RECOMMENDATIONS Active Adult Ownershin - Currently, there are two active adult ownership projects in Rose- ville and both continue to perform extremely well. in addition, United Properties is moving forward with the first phase of a senior cooperative (51 units) while planning for a second phase (44 units) after the for-sale market rebounds. We forecast that owner-occupied, age- restricted housing will continue to be a product of choice for active seniors, and that demand for this housing product will increase into the foreseeable future. However, due to the slow- down in the housing market, it would be best to wait for a full market recovery before mov- ing forward with this housing product (2013 or later). We recommend development of a 60- to 70-unit senior cooperative or condominium building. Should additional land be available, the City would be able to support an even greater number of senior cooperative or condominium units. Service-Enhanced Senior Housing -Based on our analysis, we recommend development of an additiona140 to 50 units of assisted living housing and 24 to 36 units of memory care housing. At this time, we do not find sufficient demand for additional congregate se- nior housing (i.e. independent living with services). Based on the various dynamics impact- ing the senior housing market in Roseville, we recommend that new service-enhanced hous- ing not be delivered unti12013 or 2014. At that time, additional analysis of the market could be undertaken to determine the viability of new service-enhanced senior housing in the City. Challenges and Opportunities Table CR2 identified and recommended housing types that would satisfy the housing needs in Roseville over the next ten years. The following were identified as the greatest challenges and opportunities for developing the recommended housing types. Land Constraints. As previously stated, the City of Roseville has few existing areas within the community that can accommodate residential development. The City has a limited supply of residential lots suitable for single- ortwo-family housing developments, as such fu- ture development will likely occur on infill or redevelopment sites throughout the City. Ac- cording to the Regional Multiple Listing Service of Minnesota, there are only 14 actively marketing land listings in the City, most of which are priced at or above $150,000 per lot. As a result, the City may not be able to accommodate all of the housing demand outlined in Ta- ble CR1 based on the current lot supply inventoried in Table HC3. Furthermore, the lack of supply drives up the cost of land which places upward pressure on housing price. Due to Roseville's location, housing demand could be significantly higher should Roseville have the available land to accommodate future growth. New single-family housing in partic- ular would be highly desired. • Housing Densities. In an effort to reach the demand potential with limited land, increased densities will allow for more diverse future housing products that maximize the housing types developable on a parcel. Higher density projects can capitalize on economies of scale to provide greater affordability. The City should allow for flexibility among zoning require- ments and encourage creative site planning as a means to increase density and provide great- MAXFIELD RESEARCH INC. 93