Attachment 5. Carver County CDA Maxfield Housing – 2014CARVER COUNTY HOUSING STUDY CONCLUSIONS AND RECOMMENDATIONS
Chanhassen Recommendations
Chanhassen is projected to add 6,560 households between 2014 and 2040; most of this house-
hold growth is expected to occur over the next ten years as Chanhassen continues to build out.
Currently, single-family homes remain the favored housing product. Most of the housing added
between 2015 and 2030 to meet demand will be multifamily on in-fill/redevelopment parcels
since Chanhassen will have exhausted most of its vacant land by then. Because Chanhassen is
located near job centers in Carver and Hennepin Counties, demand for housing from higher-
income households is strong. Thus, most of the new housing added through 2040 will be mar-
ket rate, although demand also exists from low- and moderate-income households. Existing af-
fordable housing in Chanhassen is fully occupied.
Chanhassen Projected Housing Demand, 2014 to 2040
Housing Demand
6,560
1--
Ownership Senior Rental
4,479 1 206 875
L-
Single-Family Multifamily Adult Owned Adult Rental Service-Enriched Afford./Sub. Market Rate
1,971 2,508 310 580 316 285 590
Note: Because households are mobile and are willing to seek out various housing products in adjacent
communities,these demand figures may experience fluctuations. Detailed demand calculations can
be found in Tables 30 through 35.
Demand was calculated for 875 general-occupancy rental units between 2014 and 2040. From
2014 to 2020, there is demand for 230 units of general occupancy rental housing with the re-
mainder of demand occurring between 2020 and 2040. Strong job growth in the area and de-
creasing vacancies in existing buildings support the short-term demand.
Of the total rental demand, about one-third is need from low-and moderate-income house-
holds seeking affordable housing. While Chanhassen has some older rental buildings with
moderate rents, there are no affordable or subsidized buildings. There is currently unmet need
in Chanhassen for affordable workforce housing units.
Summerwood of Chanhassen has been well-received in the market and all of its units are occu-
pied. Although demand for service-enhanced units is currently experiencing some softness in
the market in Carver County, we anticipate that this segment will strengthen toward 2020 and
beyond because of the aging of the population. Demand is projected for 316 market rate sen-
ior housing units with services between 2014 and 2040, with most of this demand occurring af-
ter 2020.
MAXFIELD RESEARCH INC. 127