The Elk River Housing and Redevelopment Authority (HRA) agreed Monday to hire Maxfield Research to do the a housing study . The last housing study was done in 2003.
“The anticipated outcome of the study is to determine availability of different segments of housing in Elk River and to plan for the future of the housing market in Elk River,” according to Clay Wilfahrt, Elk River’s assistant director of economic development.
Maxfield Research is a Minneapolis-based company whose web page summed up what will be done.
“In response to a need expressed by city and county governments, Maxfield Research Inc. developed the comprehensive housing needs analysis. This analysis was designed to provide government entities with assistance in planning for growth, redevelopment and future housing needs. These documents have been utilized in the planning process, to solicit interest from the private development community in undertaking specific projects, to obtain financial support, grants and other types of funding, and to partner with the private development community on joint ventures.
The Comprehensive Housing Analysis reviews growth trends and identifies demographic characteristics of a community’s household base. It provides a comprehensive inventory of for-sale and rental product and developments in the pipeline. It solicits community input through interviews with local officials, key community leaders, business owners and citizens. It provides detailed calculations on housing demand and recommends specific housing products to meet those demands. These studies may encompass the broadest spectrum of housing needs including ownership and rental products in addition to housing that serves special needs populations.”
That should give Elk River a much better idea of what they will need to accomplish as a City to serve the housing needs of the community.
I, for one, will be interested to see the report once it is completed.
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