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RECOMMENDATIONS AND CONCLUSIONS <br />Introduction /Overall Housing Recommendations <br />This section summarizes demand calculated for specific housing products in Elk River and <br />recommends development concepts to meet the housing needs forecast for the City. All <br />recommendations are based on findings of the Comprehensive Housing Needs Assessment. The <br />following table and charts illustrate calculated demand by product type. It is important to <br />recognize that housing demand is highly contingent on projected household growth; household <br />growth could be higher should increased job growth ensue and the overall economy continues <br />to improve. <br />TABLE CR -1 <br />SUMMARY OF HOUSING DEMAND <br />CITY OF ELK RIVER <br />Novemeber 2015 <br />of Use <br />Rental Units - <br />Market Rate <br />265 <br />Rental Units - <br />Affordable <br />133 <br />Rental Units - <br />Subsidized <br />44 <br />For -Sale Units <br />- Single- family <br />601 <br />For -Sale Units <br />- Multifamily <br />186 <br />Total General Occupancy Supportable <br />1,229 <br />Age- Restricted (Senior) <br />Market Rate <br />Adult Few Services (Active Adult) <br />23 <br />77 <br />Ownership <br />0 <br />0 <br />Rental <br />23 <br />77 <br />Congregate <br />87 <br />102 <br />Assisted Living <br />35 <br />47 <br />Memory Care <br />18 <br />28 <br />Total Market Rate Senior Supportable <br />163 <br />254 <br />Affordable /Subsidized <br />Active Adult - Subsidized 0 0 <br />Active Adult - Affordable 39 42 <br />Total Affordable Senior Supportable 39 42 <br />I Source: Maxfield Research & Consulting, LLC I <br />MAXFIELD RESEARCH & CONSULTING, LLC 97 <br />