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Trustees say rising costs make new senior housing projects expensive; Ham Lake site constraints limit options
Summary
Trustees discussed that Ham Lake has site constraints (well/septic) and that recent 50-unit tax-credit projects cost about $20 million versus about $4.5 million historically, suggesting new development will require pooled financing or alternative approaches.
Trustees asked whether other cities in Anoka County were actively pursuing new senior housing and heard that Ham Lake is unlikely to host another project because of well and septic constraints, not city sewer and water. "Ham Lake is hard because it's a well and septic system process versus being on city sewer and water," one trustee said, explaining why the site is less favorable for new development.
Trustees noted that past 50-unit projects cost about $4,500,000 but recent tax-credit projects are closer to $20,000,000, raising questions about how smaller jurisdictions would cover debt service. Staff said they are open to conversations with Ramsey and other cities and that any new developments might require pooled funds or alternative financing to be feasible.
