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senior units and condos, which are attractive to seniors since they have elevators rather than stairs, are more likely to be residences seniors choose as a place that will suit them over a longer term. For those who moved into multifamily ownership housing in Roseville in the past few years, households were about as likely to have moved from other housing in Roseville as they were from any place in the 11-county Twin Cities metropolitan region. The remaining �fth of households came from the other s� cities in the I-35W Corridor (Arden Hills, Blaine, Circle Pines, Mounds View, New Brighton and Shoreview). The majority of new owners of multifamily units in Roseville had sold single-family homes in favor of moving into a multifamily ownership unit. The next largest group of new multifamily unit owners in Roseville had moved out of condominiums. As for where owners go when they sell their owner units in Roseville, the majority move to a new location in the ll-county metro area. Condo owners are just as apt to choose a new condo in Roseville as in places beyond; seniors showed a greater preference to remain in Roseville. Townhome owners Turnover b Retention •• Owner-Occupied Moves N M 135W Corridor Coalition Cities (18g9 • 2002) �v+� . . � �'�` � � . . . _ �s� _ -�-- - ��■� .___ . . � ��y r+lr4h� i-'iTli�+T�+T� �1Ft�aar �+ � �.. ." L.' •�l , � f , . . ,. . 1 r • ^ - 1 ' � � L �{q ' ' • ''.� .. �r�. � ; � ��'� � -• � �- • : � � � � , •��• -�. . _ �v� ��••� ��:�:` L • . . � _: � : • Y • • •_ _t _ :,•�•,�:• L" Iv � ` r •' y.�r��.�.. � Y � _...�' . . `�.-. .. 1 generally moved out of ��` � -� f � }'� � �'� � � = "i��` �� t=} '�- , Roseville when the moved � ��. �� "� � �� '� ,�� j �'"�� f� Y , I i.� . . . �t l� _ 'J'�. ' '_7.":. .�- �: with over a third choosing a � �"�` - �� - — � � - �x+ � �••. � � different community along _ �,,Q� �, r,r„a,,,� �,� the I-35W Corridor, and ' more than half moving elsewhere in the 1 I-county metro. Condo owners tended to choose alternativecondos when they moved; seniors tended to move to other senior housing, while townhome owners favored single-family homes for their next dwelling, particularly new construction homes. ��% Building Characteristics: Condos tend to be roughly 1000 square feet per unit or smaller, while townhomes tend to be larger, roughly 1200 square feet or larger. Senior apartments vary in size quite substantially. The average size of all of the ownership units is 2 bedrooms (there are over 800 2-bedroom units in the city); there are only about half as many 1-bedroom owner units, and about a quarter as many 3-bedroom units. There are only eight 4-bedroom units that are owner-occupied. Value Summary: The average per-unit value of condominium units is about $110,000; average townhome unit values are higher at approximately $155,000 per unit. Senior ownership apartments are slightly below condo values, at about $106,000 per apartment. The highest value units ROSEVILLE MULTIFAMILY HOUSING REPORT - DRAFT � 10/19/04 Page 13