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EXECUTIVE SUMMARY <br /> Housing Needs Analysis <br /> • Based on our calculations, demand exists for the following general occupancy product types <br /> between 2015 and 2025: <br /> o Market rate rental 265 units <br /> o Affordable rental 133 units <br /> o Subsidized rental 44 units <br /> o For-sale single-family 601 units <br /> o For-sale multifamily 186 units <br /> • In addition, we find demand for multiple senior housing product types. By 2020, demand <br /> for senior housing is forecast for the following: <br /> o Active adult ownership 0 units <br /> o Active adult market rate rental 77 units <br /> o Active adult affordable 42 units <br /> o Active adult subsidized 0 units <br /> o Congregate 102 units <br /> o Assisted living 47 units <br /> o Memory care 28 units <br /> Recommendations and Conclusions <br /> • Based on the finding of our analysis and demand calculations, the chart on the following <br /> page provides a summary of the recommended development concepts by product type for <br /> the City of Elk River through 2025. Detailed findings are described in the Conclusions and <br /> Recommendations section of the report. <br /> MAXFIELD RESEARCH&CONSULTING,LLC. 4 <br />