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22382 -City of Elk River <br />Land Analysis <br />November 20, 2023 <br />Page 2 <br />ZONING <br />Single-family residential development in the City of Elk River is allowed within the R1a-R1d <br />residential zoning districts. However, the R1a and R1b zoning districts allow single family <br />residential development without public utilities. Alternatively, the R1c and R1d Districts are <br />intended for land that is, or will be, served by municipal sanitary sewer, storm sewer and <br />municipal water. Potential density in these areas is expected to be less than four units per acre. <br />The land sales summarized on the following single-family residential sales grid are considered <br />to have zoning and potential uses consistent with the R1c and R1d zoning districts. <br />Alternatively, medium-density residential development in the City of Elk River is allowed <br />within the R2 and R3 zoning districts. These districts are categorized as the Two Family <br />Residential District and the Townhouse/Multiple Family Residential District, respectively. <br />Development densities for these districts are expected to range from four to seven units per <br />acre. The land sales summarized on the following medium-density residential sales grid are <br />considered to have zoning and potential uses consistent with R2 and R3 zoning districts. <br />Lastly, high-density residential development in the City of Elk River is allowed in the R4 and <br />PUD zoning districts. These districts generally comprise the high-density residential category, <br />which includes multi-family development such as apartments and senior housing, with <br />densities over seven units per acre. The land sales summarized on the following high-density <br />residential sales grid are considered to have zoning and potential density similar to the R4 and <br />PUD zoning districts. <br />Due to the differences in potential density and the corresponding values perceived by the <br />market, the single-family, medium-density and high-density comparable land sales are <br />presented on separate summary grids. The respective land sales are considered to have zoning <br />and potential densities consistent with the corresponding residential zoning districts in Elk <br />River as stated previously. <br />Lands guided for residential development in the City of Elk River are identified on the City's <br />Land Use map on the following page. As depicted on the City's land use map, the majority of <br />the land available for development is located in the eastern portion of the City. <br />PATCHER ME SSNER <br />Valuation Counselors <br />