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1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />29 <br />30 <br />31 <br />32 <br />33 <br />34 <br />35 <br />36 <br />37 <br />38 <br />39 <br />40 <br />41 <br />42 <br />43 <br />44 <br />45 <br />46 <br />47 <br />48 <br />49 <br />50 <br />51 <br />52 <br />53 <br />54 <br />55 <br />HRA Meeting <br />Minutes — Monday, July 27, 2009 <br />Page 2 <br />A bench handout was provided, altached hereto and made a part thereof, providing an overview of the <br />presentation by Mr. Matt Mullins, with Maxfield Research, Inc. The presentation summarized the <br />Comprehensive Multi-family Housing Needs Analysis as recently completed for the City of Roseville's <br />HRA Mr. Mullins highlighted key demographic trends; current housing market conditions; demand for <br />multi-family housing products; recommended development concepts; challenges and opporiunities; and <br />recommended City development priorities. <br />Member Pust arrived ai this time, approximaiely 6:14 p.m.; and Codes Coordinaior pon Munson also arrived <br />ai approximaiely this time. r, <br />Mr. Mullins noted that the United Properties project appeared to still be moving rward, now in <br />phases. <br />Mr. Mullins provided comparisons between Roseville's housing supply ��sus othe"r= olitan <br />communities; and highlighted the housing needs analysis, making recom�mei�arions for e� �f <br />housing in the community: single-family/detached townhomes; mulh-„ "" ��� townhomes/twin es; <br />general occupancy rental housing, and senior housing, with projech���over the next ten (10)�ears for <br />demands for each type of housing, opining that the highest de G�d woul e for active adult senior <br />housing and affordable active senior subsidized housin G`�Mr. M reviewed Maa�field's <br />recommended development plan for the City of Roseville q��� �;�xt �en (10) years; noring the lack <br />of available land available, requiring that housing to be pursued� �" '���� h redevelopment efforts. Mr. <br />Mullins noted that 20-25% of a home's purchase price was repres la�d value, and projected <br />.� <br />demand therefore indicated move up and/or executive level homes. ;'�iulri-family homes, Mr. <br />Mullins recommended multi-family homes, not condominiums in the cu , t market, with anticipated <br />sales point for those homes at $275,000 to $30(�� velopment in �012 and beyond. Mr. Mullins <br />noted that there didn't appear to be an indical�� "� t��r��sancy rental housing at this rime; <br />however, opined that luYUry rental building eff s ma� i �d after 2009 and beyond, since the <br />existing stock was not meeting today's targeted a_ ie for an pscale market. <br />Member Tracy questioned whether the current v��ancy rate in the Lexington Apartments was lower <br />than other rental units. <br />Mr. Mullins advised th���of the �� units at th�exington, they currently only had siY (6) vacancies; <br />that some of the�r �`" were t �� ���'umts; and that their clientele did include a number of <br />students from the.�ltvb,�� a . .'� ullins advised that the rents were in the high range ($895 <br />-$1,200); and that wi % vacancy rate, it would indicate the need for similar rental units. Mr. <br />Mullins addressed curre truction costs and rents at $125 -$1.35 per square foot an <br />overabund���f s�aller 2- � om single family units, with larger, more affordable units needed. <br />Spe��if'ic to senior ��ing n�eds, Mr. Mullins advised that trends indicate more demand for acrive <br />s�Yuor housing now� �bwever, in 2013 and beyond, more assisted living and memory care housing <br />�uld be in dema� �' Mr. Mullins noted that this housing could be a mia�ture of affordable and/or <br />���t rate units, there appeared to be a niche for both types of product, and that the demand for <br />se ''` operati� was strongly indicated; however, if Applewood Point pursued their additional Phase <br />II, d�dress a lot of that demand. Mr. Mullins noted that this housing not only served seniors, <br />but free e current housing stock for new households moving into the community. <br />Mr. Mullins addressed various challenges and opporiunities facing Roseville, with over 20% of the <br />City's current population was 65+, with a projected increase to 25+% in the near future. Mr. Mullins <br />discussed current economic conditions and impacts to housing development, and minimal <br />redevelopment projected due to those economies. Mr. Mullins suggested that the City establish <br />development priorities, such as increasing housing densities, mixed use concepts for redevelopment, <br />affordable housing with larger unit sizes, and the need to prepare for the "boomers" driving household <br />growth for the neat 10-15 years. Mr. Mullins suggested that, depending on available funding, the City <br />consider taking advantage of current reduced land values, and "land banl�' properties as they become <br />