Diversifying the Housing Stock for an Aging Population
Kensington Park in Richfield, Minnesota
Situation
Between 1940 and 1950 the population of Richfield swelled from 3,775 to just over 17,500. At that time, the market demanded single family detached houses (Richfield Comprehensive Plan).
Now as a fully developed community there is limited diversity in the housing stock. Analyses show that 65 percent of housing structures are single-family detached homes, comprising up to 61 percent of the city’s land area, compared to only 4 percent of land devoted to multifamily residences (Richfield Comprehensive Plan).
Demographic trends, however, are causing the city and the development community to rethink the type of housing redevelopment that occurs in Richfield. The baby boom generation is expected to want smaller, easier to maintain homes that are more centrally located with urban amenities as they reach retirement age. Young people are expected to remain single longer and have smaller families. The number of renters is expected to increase and the demand for affordable housing close to jobs is on the rise.
Already, the housing stock is beginning to reshape in Richfield. Between 2000 and 2006, 86 percent of newly constructed housing units were built as multifamily (Richfield Comprehensive Plan). Still more are needed to accommodate the changing population.
Kensington Park, a mixed use development that provides a range of housing opportunities, is an excellent indicator that Richfield is ready to step up to the challenges and opportunities wrought by changing demand.
Goals
Kensington Park is Phase 2 of the Lyndale Gateway, a redevelopment of an older, obsolete commercial strip development at Lyndale and 76th Street. The area was first addressed in a 1985 plan and further refined in the 1996 LGRP and 2001 RFP for developers. Goals included:
- Use creative design to blend higher density into existing neighborhoods of small single family homes.
- Capitalize on location with significant employment along I-494 and Shops at Lyndale to the South.
- Provide lifecycle housing options.
- Provide affordable housing options.
- Provide neighborhood retail.
Solution
Phase I of the project—Main Street Village—includes 161 senior apartments, 40 townhomes and 38,000 SF office space.
Phase II of the project—Kensington Park—includes:
Public/Private Development: Cornerstone Group, the City of Richfield (TIF - $7 million), and the Metropolitan Council ($500,000). Total development cost: $33 million (The Cornerstone Group).
Development Scope: 96 Market Rate Condominiums, 14 Townhomes, 27,000 SF Retail (Chipotle, Potbelly Sandwich Works, Noodles and Co., Starbucks and Supercuts) (The Cornerstone Group).
Density: 32 units/acre plus retail (The Cornerstone Group).
After nine developers made proposals for the Lyndale Gateway area, the Cornerstone Group approached the City of Richfield with a proposal for a mixed-use development that would include senior housing, condos, townhomes, retail and office space.
Even with the commitment of the Cornerstone Group to the project, several obstacles emerged as a result of conflicting land use relationships in the area: a substantial parking deficiency, declining property values, high vacancy rates, alley conflicts and neighborhood opposition (Hoisington Koegler Group Inc.).
Progress
Shortly after the completion of the project in 2003, Lyndale Avenue was reconstructed to better accommodate pedestrians.
- Sidewalks 15 to 21 feet wide.
- Separated from traffic with planters.
- Center median down Lyndale.
- Pedestrian level lighting.
- Parking tucked behind buildings.
- Shelters for transit connections.
|
