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2004_1108_Packet
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2004_1108_Packet
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APPENDIX D: REPORT CONCLUSIONS <br />I. There is a young family population within rental multi family housing and when <br />they move to ownership housing they tend to move out of Roseville. <br />�, Even though Roseville's home ownership rate (68%) is higher than the national <br />average, it is below the average of the state and metropolitan region. <br />3, There is an increasing number of older population within multifamily housing due <br />to the affordability and increased tenure. <br />�, Many of the smaller more affordable multi-family complexes do not include the <br />school-aged child resources. <br />�, More than 80% of Roseville apartments have one or two bedrooms which is not <br />attractive for young families. <br />�, The majority of the multi-family housing stock in both rental and ownership <br />projects is over 40 years of age which may require significant renovation. <br />�. The average value of multi-family apartments is below the Twin Cities average of <br />$65,000 per unit and over 30% of the complexes have a value below $50,000 per <br />unit. <br />�_ There are approximately 9,000 Roseville residents who live in some type of <br />multifamily housing and over 70% of them pay rent which represents a significant <br />and important population of the City. <br />4. The City's housing goals of maintaining 40% multi-family and 60% detached <br />single family mix is beginning to change as properties are (re)developed into <br />more multifamily housing. <br />10. Less than 1.5% (130 acres) of the land in Roseville is remaining to be developed <br />for the first time. Of those 130 acres, 35% (45 acres) are planned for multi-family <br />housing. <br />11. There could be 1,200 new residents added in Roseville, if the 45 acres were <br />developed for multifamily housing. <br />ROSEVILLE MULTIFAMILY HOUSING REPORT - DRAFT ] OU1 �,'�F Page 22 <br />
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