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Summary of Market Findings-St. Anthony Redevelopment 7,063 jobs (an increase of 5.1%). During the 2000s, the market area is projected to add an- other 5,175 jobs, an increase of 3.5%). However, the current job market remains tight (un- ■ employment rate at 2.1% for November 2000) and despite a slight slowdown in the national economy, the Twin Cities remains well below full employment. • The St. Anthony market area is characterized by a moderately high base of families with ■ children, and a higher proportion of older adults (55 to 64) and seniors (65+) and compared ■ to the Metropolitan Area as a whole. This indicates potential strong demand for move-up for families and alternative housing products that would appeal to older households who ■ may prefer less maintenance and have a desire for greater mobility. There is also the ability to attract new household segments into this area through the development of additional housing product geared to different market segments (i.e. young professional singles and couples). • The 2000 estimated median household income in St. Anthony is $60,378 compared to $48,173 within the study area as a whole. This income figure suggests that St. Anthony can ■ likely support move-up housing and higher-priced units than some of the surrounding neighboring communities. Of course, the pricing of any development will depend on a number of factors, including site characteristics, existing competitive market conditions, ■ competitive planned developments and the product types to be developed. • Our review of household tenure (owner/renter) in St. Anthony and the surrounding market • area reveals that St. Anthony is very similar to the Twin Cities Metro Area as a whole. The proportion of owner to renter households was roughly 65% owner/35% renter (68% owner/32% renter in the Metro Area) in 1990. Although estimates are not available for 2000, the lack of rental development during the 1990s and the increased building of owned ■ housing units has resulted in the proportion of owned dwelling units increasing slightly against the rental housing proportion. We believe that this is true for the Market Area as well. • St. Anthony has several characteristics that make the community an attractive residential ■ location. --It is centrally located within the Metropolitan Area, easily accessible to both Downtowns, the north suburbs and the metro freeway network. ■ ■ Page 2