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DRAFT Market Analysis <br />Lino Lakes Comprehensive Plan Update <br />September 2006 <br />Page 15 <br />A higher proportion of housing demand (20 %) is projected to be for rental housing between 2010 <br />and 2020 as a critical mass of the population in Lino Lakes becomes age 65 or older and begins to <br />desire low maintenance housing. In addition, emerging employment centers along Interstates 35W <br />and 35E as well the development of the TCAAP site in Arden Hills will increase the overall demand <br />for rental housing in the northeast sector of the metro area. <br />As developable becomes more scarce throughout the 2010s in Lino Lakes, pressure will mount for <br />the remaining land to be developed at higher densities. Furthermore, demographic trends indicating <br />strong growth among older age groups will add additional pressure to develop new homes as <br />multifamily product that requires lower maintenance than single - family product. <br />Forecasted Demand for Housing in Lino Lakes <br />By Housing Type 2010 -2020 <br />Ow ner Occupied <br />Housing <br />(2,400 - 2,800 Units) <br />Single - Family <br />Housing <br />(850 - 1,000 Units)J <br />2020 -2030 <br />Housing Grow th <br />Potential <br />(3,000 -3,500 Units) <br />Multifamily Housing <br />(1,550- 1,800 <br />Units) <br />Renter Occupied <br />Housing <br />(600 to 700 Units) J <br />General <br />Occupancy <br />(420 - 490 Units) J <br />Age- Restricted <br />(180- 210 Units) <br />The overall demand for housing in Lino Lakes is projected to decline slightly from the 2010s to the <br />2020s. Demand for rental housing, however, will increase its proportion the share since the age <br />distribution of the population will continue to skew toward older age cohorts. This will be especially <br />evident given that the leading edge of the Baby Boom will be aging into their late 70s and early 80s <br />during the 2020s. <br />The same forces that sharply increased the demand for owner- occupied multifamily housing in the <br />2010s will still be present in the 2020s as Lino Lakes will begin to transition into a fully developed <br />community with development occurring on in -fill sites or as part of a redevelopment project. This <br />suggests that upwards of 75% of all newly constructed owner - occupied housing will likely be <br />multifamily housing. This was the experience in neighboring communities, such as Shoreview when <br />during the 1990s at the end of its development arc, the community experienced several years in <br />which nearly 90% of its newly constructed homes were multifamily units. <br />Forecasted Demand for Housing in Lino Lakes <br />