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2008 Mounds View Comprehensive Plan <br />________________________________________________________________________ <br /> <br />Chapter 4: Housing <br /> <br /> <br />4-17 <br />other properties and the negative market psychology may keep older owners from moving, reducing <br />housing opportunities for young families. These homes, however, also provide an affordable <br />housing option for young families when the owners of foreclosed homes offer them for sale at <br />discounted prices. <br /> <br /> <br />Future Housing Needs <br /> <br />Housing Maintenance <br /> <br />Owner-Occupied Housing <br /> <br />The maintenance of owner occupied homes is a key issue due to the aging of the city’s housing stock <br />and population. While owners tend to keep the homes in Mounds View well maintained, the <br />increased maintenance needs of older housing and the limits of older population will create <br />challenges. Housing in older neighborhoods tends to be smaller and the owners may need to <br />remodel or upgrade their homes to improve their resale value. Older townhome developments also <br />will begin to have major maintenance needs and associations may find they are not financially <br />prepared to pay for major maintenance projects. Since older housing units tend to be more <br />affordable, maintenance is important to retain a good housing mix and to prevent neighborhood <br />decline. To respond to the aging housing conditions and population, the City should explore <br />programs and partnerships that provide resources for property owners to maintain their housing <br />stock. The City needs to emphasize code enforcement while providing the City with an enforcement <br />mechanism. The City also must continue educating property owners about the City’s code <br />regulations and the importance of property maintenance. <br /> <br />Neighborhood Preservation <br /> <br />A characteristic of a developed city is an aging housing stock and an aging public infrastructure <br />system. As the housing stock ages, the importance of reinvestment and rehabilitation increases. The <br />majority of the homes in Mounds View are at an age where the owners need to make significant <br />reinvestment to maintain the integrity of the structure. The aging of the housing stock becomes <br />prevalent especially when reviewed on a neighborhood wide basis since the homes in most <br />neighborhoods were built in the same era. <br /> <br />The older neighborhoods are seen as a key part of the city’s affordable housing stock where <br />reinvestment is vital to keeping the neighborhood character, quality of life and housing choice. The <br />City should consider doing a study to prepare a more comprehensive and long-range plan to <br />establish housing strategies. The intent of this study would be to encourage reinvestment that results <br />in an improved housing stock while keeping affordability levels and preserving the neighborhood’s <br />character. The areas of housing most likely to need study and assistance are: