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In addition, the report identified sites that have the greatest <br />potential for redevelopment based on the positive impact it <br />would have on the downtown. <br />2007 Adjusted Market Analysis <br />The table below reflects the remaining balance of demand <br />available after reducing the initial demand by the recent <br />development activity that has taken place within the Study Area. <br />These recent developments include: <br />Housing: <br />Granite Shores for -rent multi -family 67 units <br />Jackson Place apartments 32 units <br />Office: <br />The Bank of Elk River expansion 20,000 sf <br />Retail: <br />The Bluffs commercial 10,000 sf <br />Jackson Place commercial 10,000 sf <br />The balance indicates remaining housing demand to 2010. <br />Redevelopment proposals that exceed the indicated demand <br />during that time shall be supported by an up to date market <br />analysis. <br />Demand Summary <br />Downtown Elk River Redevelopment Area <br />2007 to 2010 <br />For -Sale Multifamily 48 units <br />Market Rate Apartments 300-328 units <br />Market Rate Senior Housing 60-70 units <br />Source: Maxfield Research Inc. & City of Elk River <br />November 19, 2012 -Part I, page 30 - <br />