09/02/2008 Council Packet - Laserfiche WebLink

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Housing Demand Breakdown 2006 -2010 Housing demand is based on a high rate of homeownership in Lino Lakes (96 percent in 2000) with an allowance that there may be pent -up demand for rental housing, due to the fact that very little currently exists in Lino Lakes. Potential household growth is broken down, with 85 percent being allocated to for -sale housing, and the remaining 15 percent to rental housing through the end of this decade. Historically, most construction in Lino Lakes has been single - family housing, but recent construction trends and long -term demographic trends indicate a substantial portion of future development will be multifamily. According to recent trends within the housing industry and building permit reports from the Metropolitan Council, it is estimated that an approximate 50/50 split between single - family and multifamily development is likely for the remainder of this decade. Chart 4 -5 shows housing growth potential, broken down by ownership and rental tenure for the remainder of this decade. Chart 4 -5 Potential Demand for Housing in Lino Lakes By Housing Type 2006 -2010 Ow ner Occupied Housing 1,000 - 1,150 Units (83% of Total) 270 -310 West 730 -840 East � _ J Single - Family Housing 500 - 575 Units (41% of Total) 135 -155 West 365 -420 East J Housing Growth Potential 1,200 - 1,400 Units 325 -380 West 875 -1,020 East Multifamily Housing 500 - 575 Units (41% of Total) 135 -155 West 365 -420 East J 4 -10 Renter Occupied Housing 200 - 250 Units (17% of Total) 55 -70 West 145 -180 East General Occupancy 150 - 175 Units (13% of Total) 40 -50 West 110 -125 East J Age- Restricted 50- 75 Units (4% of Total) too fewto split J • •