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TOP PRODUCERS AND PROJECT PIPELINE <br />13 |MARKET UPDATE: AFFORDABLE RENTAL HOUSING IN THE TWIN CITIES <br />PROJECT PIPELINE 2019 – 2020 <br />• The central cities are again leading the way with 69% <br />of new affordable units (1,357) under construction for <br />2019 or 2020 delivery. <br />• St. Paul has a strong mix of senior and non-senior units <br />and is leading all submarkets with 826 affordable <br />units under construction. <br />• With the exception of the southeast suburbs, there is <br />little or no new affordable construction underway in the <br />outer suburbs of the Twin Cities, areas high in population <br />and employment. Demand for affordable housing of all <br />types is exceedingly high in these areas. <br />Affordable Rental Housing Pipeline <br />Under Construction for 2019 or 2020 Delivery <br />Twin Cities Submarkets (7 Counties) <br /> Gen-Occ. & Senior <br />Submarket Targeted Units Units Total <br />1 St. Paul 551 275 826 <br />2 Minneapolis 531 - 531 <br />3 Southeast Suburbs - 258 258 <br />4 First-Ring Suburbs 227 17 244 <br />5 Southwest Suburbs 54 - 54 <br />6 Northwest Suburbs 50 - 50 <br />7 Northeast Suburbs - - 0 <br />Total 1,413 550 1,963 <br />TOP PRODUCERS: GENERAL-OCCUPANCY <br />& TARGETED POPULATIONS <br />• The top ten producers accounted for 60% of all new units <br />for general-occupancy and targeted populations since <br />2010; 3,469 units. <br />• Seven of the top ten producers were very active, with at <br />least five new projects opened during the period. <br />• Dominium has led all producers with 823 new units <br />since 2010; eight other developers have built at least <br />220 new units. <br />• The top developers have built larger projects (64 units <br />average size), while smaller-volume developers <br />(1-3 projects delivered) have averaged just 43 units <br />per project. <br />AGE-RESTRICTED (SENIOR) UNITS <br />• All new affordable senior units since 2010 have been <br />built by just 14 developers. <br />• Dominium has led all producers by far, with 1,665 new <br />senior units, or 53% of all deliveries. <br />• Dakota County CDA and Dominium combined have <br />opened nearly two-thirds of all new affordable senior <br />rental projects in the Twin Cities. <br />• One-third of production has come from developers <br />building one or two projects of roughly 62 units in size <br />on average. <br />All Affordable Rental Housing Producers <br />Senior/Age Restricted <br />Twin Cities (7 Counties) l 2010 – 2018 <br /> No. of No. of <br /> Projects Units <br />1 Dominium 10 1,665 <br />2 Dakota County CDA* 7 438 <br />3 SCA Properties* 2 328 <br />4 CommonBond Communities* 3 147 <br />5 Shelter Corp. 2 118 <br />6 Episcopal Homes 2 98 <br />7 Washington County HRA 1 70 <br />8 Wellington Management 1 64 <br />9 Tim Nolde 1 62 <br />10 Aeon* 1 54 <br />11 Minneapolis Public Housing Authority 1 48 <br />12 Beacon Interfaith Housing Collaborative* 1 42 <br />13 Tealwood 1 17 <br />14 St. Anne’s 1 2 <br />Total 34 3,153 <br />Top Ten Affordable Rental Housing Producers <br />General Occupancy & Targeted Populations <br />Twin Cities (7 Counties) l 2010 – 2018 <br /> No. of No. of <br /> Projects Units <br />1 Dominium 6 823 <br />2 Sand Companies* 7 420 <br />3 Lupe Development Partners* 3 354 <br />4 Project for Pride in Living* 7 348 <br />5 Ron Clark Construction 5 319 <br />6 Dakota County CDA* 8 295 <br />7 Aeon* 5 282 <br />8 CommonBond Communities* 6 253 <br />9 Sherman Associates 3 220 <br />10 Beacon Interfaith Housing Collaborative 4 155 <br />Subtotal –Top 10 54 3,469 <br />All Other Developers 53 2,304 <br />Total 107 5,773 <br />* Includes projects done jointly with another developer. <br />* Includes projects done jointly with another developer.