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Housing Study <br /> July 12,2004 Page 3 <br /> There are several residential developments have either received preliminary plat approval, <br /> currently before the city for preliminary approval or the city has seen concept plans for the <br /> development. <br /> Name # of units Status <br /> Woodland Hills 110 single family granted preliminary approval <br /> River Park 378 single family preliminary approval pending <br /> 326 townhouse <br /> Trout Brook Estates 142 single family preliminary approval pending <br /> Riverside Dev./ 600-700 mix of single family concept stage <br /> Centex Homes and townhouse <br /> Jackson Ave. Villas 80 townhouse application pending <br /> Affordability <br /> In May 2003, a mortgage of$1074 per month, or a house and lot with a total value of <br /> $170,000,was considered affordable. In June 2004, the median gross income,which is used <br /> to determine affordability, had not changed significantly since May 2003. <br /> What's Next? <br /> If the city determines that there is a need for additional housing types or affordability, the <br /> upcoming Comprehensive Plan update provides an opportunity for the city to address those <br /> issues. As part of the Comprehensive Plan update, the city will be looking at amending the <br /> Land Use Plan. If the city determines that there is need for more apartments, townhouses or <br /> higher density housing, the new Land Use Plan could reflect that. The City Zoning Map <br /> could then be amended to be consistent with those changes. <br /> The city is also beginning a visioning process for the downtown area, north of the railroad <br /> tracks. Housing needs and affordability could be included as part of that visioning process. <br /> S:APLANNING\Scott\Housing\Housing update CC7-12.duc <br />