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DRAFT Market Analysis Lino Lakes Comprehensive Plan Update September 2006 Page 16 By Housing Type 2020 -2030 Housing Growth Potential (2,000 -2,500 Units) Ow ner Occupied Renter Occupied Housing Housing (1,400 - 1,750 Units) (600 to 750 Units) J Single - Family Housing (350 - 450 Units) J Multifamily Housing (1,050 - 1,300 Units) ECONOMIC SNAPSHOT OF THE TWIN CITIES Introduction General Occupancy (400 - 500 Units) Age - Restricted (200- 250 Units) This portion of the market research analysis presents a brief overview of key indicators about the economy of the Twin Cities. With numerous sites that have strategic access to Interstates 35W and 35E, the profile of Lino Lakes will increase among the commercial /industrial development community, though the timing and scope of development hinges on the regional economic picture at the time individual sites are built -out. Office and Industrial Space Absorption (Multi- Tenant Space) 1991 -2005 The chart below shows that the Twin Cities Metro Area has absorbed just over 56 million square feet of office and industrial space' during the past 14 years, an annual average of nearly 4.8 million square feet, or an annual growth rate of 5.2 %. 1 Multi- tenant industrial space descriptions per Colliers Towle Real Estate: office- warehouse - buildings with at least 25,000 square feet, 10 % -20% finished office space and 16 -20 foot clear ceiling heights; office- showroom - buildings of at least 25,000 square feet, near freeways with good visibility, 30 %+ finished office space and 12 -16 foot clear ceiling heights; bulk warehouse - buildings of 50,000 square feet or more, constructed after WWI, with no more than 10% finished office space and 20 -foot or greater clear ceiling heights. 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1