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St. Anthony 2040 Comprehensive Plan Chapter 5: Housing <br />55 <br /> <br />FIGURE 5-10: AFFORDABLE UNITS BY SITE <br />EXISTING HOUSING NEEDS <br />From this assessment of the physical and cost characteristics of the <br />housing stock in St. Anthony, combined with the demographic analysis of <br />the community, there are some features and trends of the housing <br />landscape that are especially notable and will shape the actions St. <br />Anthony will take to address housing in the coming decades. The <br />following section summarizes the community’s most critical housing <br />needs as they relate to affordability, demand and supply. Each section <br />contains a housing trend observation, a supplemental narrative and a <br />subsequent “housing need goal” that arises out of this observation. <br />Connecting each housing need goal to applicable tools and policies will <br />occur in a later section entitled “Planning for Affordable Housing.” <br />The most critical housing trends and needs in St. Anthony are as follows: <br />• Rental housing demand at all affordability levels is increasing. <br />The population of St. Anthony is older, and is also becoming more <br />diverse. The need for affordable and appropriate rental housing will <br />only increase with this trend. As this trend towards greater diversity <br />and a higher share of older residents plays out across the region <br />overall in the decades to come, St. Anthony must consider what <br />initiatives to undertake if it wants to provide housing opportunities for <br />people of all ages, incomes, backgrounds, and in all stages of life. <br />In St. Anthony, renters represent an increasing share of the occupied <br />households. Whereas in 2000 only 33 percent of households were <br />renter-occupied, that share increased to 38 percent in 2010. As an <br />inner-ring suburban community located close to jobs and transit, St. <br />Anthony should expect the overall demand for housing to be strong <br />and the rental demand to be maintained or increase in the coming <br />decades. The regional forecasted trend predicts population movement <br />back to the urban core and increasing preferences for rental housing <br />due to cost considerations and lifestyle choices. As market demand <br />for rental remains strong, St. Anthony should continue to evaluate <br />Unit potential for affordable housing (≥8 du/ac) in the 2021-2030 <br />decade, based on density <br />Unit potential using <br />minimum densities <br />Southern Gateway redevelopment (one third of site expected to <br />develop in 2021-2030) 114 units <br />Other sites 76 units <br />Total 190 units