Over the summer, the housing stock in St. Francis could be studied and evaluated.
The St. Francis City Council June 4 unanimously approved requesting the funds from the Anoka County Housing and Redevelopment Authority for a $5,000 marketing study.
“The study will look at the city’s demographics, the trends of where people are buying and what the housing market vacancy is,” said City Administrator Matt Hylen.
The study will help determine the housing types that are needed and what the market can sustain, he said.
The last St. Francis market study was done in the mid-2000s.
The housing market has changed substantially since then, Hylen said.
Having an up-to-date study helps the city attract developers, he said.
When cities have current market studies, the developers know what housing types are needed and can get financial backing for their projects, Hylen said.
The city has a developer interested in doing a senior housing campus and the market study will include senior housing analysis, he said.
Tammy Sakry is at [email protected]