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St. Anthony 2040 Comprehensive Plan Chapter 5: Housing <br />56 <br /> <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. <br />The following trends are noted: <br />• Rental housing demand at all affordability levels is increasing. The <br />population of St. Anthony is aging and is also becoming more diverse. <br />The need for affordable and appropriate rental housing will only <br />increase with this trend. As this trend towards greater diversity and a <br />higher share of older residents plays out across the region overall in <br />the decades to come, the city could consider what initiatives to <br />undertake if it wants to provide housing opportunities for people of all <br />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 and <br />the rental demand to be maintained or increase. The regional observed <br />trend predicts population movement toward redevelopment rather than <br />greenfield development and increasing preferences for rental housing <br />due to cost considerations and lifestyle choices. The housing stock in <br />St. Anthony is aging, and residents will have increasing <br />maintenance and upkeep requirements in the coming decades. St. <br />Anthony contains a many smaller-lot single family homes developed in <br />the 1950s and 1960s that are beginning to age and may not be as <br />attractive or suitable for modern households as they once were. <br />Developing strategies to maintain and support St. Anthony’s existing <br />housing stock, will remain a significant challenge in the decades to <br />come, and will be important to continue to attract newcomers to the city. <br />Housing need goal: Support housing maintenance assistance <br />programs, particularly for lower-income households. <br />• St. Anthony, along with many urban communities, is at risk of <br />losing its naturally occurring affordable housing to rising rents <br />Typically, naturally occurring affordable housing comprises older <br />attached and multifamily housing that may have deferred maintenance <br />needs or is of an older or obsolete style. Naturally occurring affordable <br />housing is an important source of housing affordability in many Twin <br />Cities urban communities but requires a careful, balanced approach.