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4 <br />SINGLE FAMILY RESIDENTIAL (CONTINUED) <br /> <br /> <br />Single family homes in Elk River do not stay <br />on the market for long. <br /> <br />In early 2016, homes were on the market for <br />an average of 41 days. In 2019, single family <br />homes stayed on the market for 25 days or <br />less. And in 2020 houses flew off the market <br />as soon as they were listed. <br />The HRA acquired two more properties in 2020 as <br />part of a redevelopment project that would align <br />with the Mississippi Connections Plan. <br /> <br />The two houses were moved and the remaining five <br />were demolished. Seven properties have been pur- <br />chased with one remaining. <br /> <br />The HRA coordinated a Developer’s Forum in <br />March of 2020, but due to the COVID-19 pandem- <br />ic the meeting was cancelled. <br /> <br />A new sell sheet was created and a two-sided sign <br />was installed as marketing initiatives. The HRA <br />plans to host a Developer Forum in 2021 as allowed <br />and continues to market this exciting property. <br />MAIN AND GATES REDEVELOPMENT <br />