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d. The 0% vacancy rates for affordable rental housing and senior housing at all levels <br />indicate a pent-up demand for this type of housing. <br />e. Additional demand for Hillside Heights Apartments will also likely come from outside <br />Elk River in the larger submarket area. <br />2. The 171" Avenue Focused Area Study ("FAST"). The council approved plan outlines short - <br />and long-term development and transportation goals for the 175th Avenue and Twin Lakes <br />Road intersection —the development sitein the FAST Hillside Heights subarea including: <br />a. Density at 26 units/acre. <br />b. A variety of housing options. <br />c. Attractive streetscape and pedestrian connection along Twin Lakes Road. <br />d. Paths and crosswalk to the commuter rail station. <br />The City's current Comprehensive Plan supports the development of Hillside Heights <br />Apartments in the following ways: <br />a. Provides more housing type choices for the growing number of families in Elk River. <br />b. Diversifies the housing types. <br />c. Creates 55 units of housing for individuals and families at 50% of the area median <br />income. <br />d. Helps meet the demand of "the strong need to provide affordable housing for people of <br />all ages." <br />e. Provides stable, affordable senior housing for "the notable increase in apartment rental <br />needs in Elk River by members of the baby boom generation." <br />f. Provides approximately 55 units of housing within a half mile of the Northstar <br />commuter rail station. <br />4. The market study completed by Market Analyst Professionals in April 2020 concludes <br />sufficient demand for the development, and projects it will be well positioned in the local <br />area. <br />As stated above, The City of Elk River has confirmed that Hillside Heights Apartments contributes <br />to the goals of development in the FAST Plan. The plan identifies specific geographic areas targeted <br />for a variety of housing options including affordable housing and growth in Elk River, and the <br />Hillside Heights Apartments site is in the Hillside Heights district as a priority target area. <br />The City Council endorsement is evidenced by the City Council's approval of Resolution 20-xx a <br />copy of which is included with this letter. <br />Sincerely, <br />Mayor John Dietz <br />