In the next 15 years, that number is projected to double, according to state demographers. By the end of 2005, the county will be home to 1,079 senior residences — but that falls far short of demand. The typical wait these days for senior housing in Dakota County can be from one year to four years, so county officials are already pursuing such options as senior co-operatives, condominiums, one-level town homes. The DHASTING, MN-Rivertown Court, a 63-unit multifamily rental complex under construction, underscores the rising demand for senior housing, according to the Dakota County Community Development Agency. Dakota County, the third largest in Minnesota with about 400,000 residents and one of its fastest-growing counties, also has about 65,000 residents who are 55 years old or older.
In the next 15 years, that number is projected to double, according to state demographers. By the end of 2005, the county will be home to 1,079 senior residences--but that falls far short of demand. The typical wait these days for senior housing in Dakota County can be from one year to four years, so county officials are already pursuing such options as senior cooperatives, condominiums and one-level town homes. The Dakota County Commission recently agreed to borrow up to $14 million for the new housing sites.
Rivertown Court, which is located on South Frontage Road behind the Target discount store, is being built by CBS Construction Services. The complex, will include 36 one-bedroom and 27 two-bedroom apartments, includes a dining area, a commercial kitchen, an outdoor patio and an emergency call system.
The building will include amenities such as a community room/dining area, commercial kitchen, outdoor patio, underground heated parking, emergency call system and an on-site caretaker. The building is part of the Dakota County Community Development Agency's Senior Housing Program. The CDA owns and manages 18 other senior housing developments throughout Dakota County.
Rivertown Court is expected to open by October with hundreds of applicants waiting in the wings hoping to get it. The units are available to those aged 55 years or older with income limits at $39,550 for a one-person household and $45,200 for a two-person household. Preference is given to seniors who live or who have immediate family living in Dakota County. Rent is based on 30% of adjusted annual income for a one-bedroom unit and 32% of income for a two-bedroom unit.
The Dakota County CDA recently did a rental market survey covering more than 21,000 rental units and found vacancy rates had climbed to 8.1% from 5.5% the previous year. One problem is that rents at $901 a month for the average two bedroom renting and $1,191 a month for three-bedroom units is beyond the means for the average wage earner in Dakota County.
akota County Commission recently agreed to borrow up to $14 million for the new housing sites.
Rivertown Court, which is located on South Frontage Road behind the Target discount store, is being built by CBS Construction Services. The complex, will include 36 one-bedroom and 27 two-bedroom apartments, includes a dining area, a commercial kitchen, an outdoor patio and an emergency call system.
The building will include amenities such as a community room/dining area, commercial kitchen, outdoor patio, underground heated parking, emergency call system and an on-site caretaker. The building is part of the Dakota County Community Development Agency's Senior Housing Program. The CDA owns and manages 18 other senior housing developments throughout Dakota County.
Rivertown Court is expected to open by October with hundreds of applicants waiting in the wings hoping to get it. The units are available to those aged 55 years or older with income limits at $39,550 for a one-person household and $45,200 for a two-person household. Preference is given to seniors who live or who have immediate family living in Dakota County. Rent is based on 30% of adjusted annual income for a one-bedroom unit and 32% of income for a two-bedroom unit.
The Dakota County CDA recently did a rental market survey covering more than 21,000 rental units and found vacancy rates had climbed to 8.1% from 5.5% the previous year. One problem is that rents at $901 a month for the average two bedroom renting and $1,191 a month for three-bedroom units is beyond the means for the average wage earner in Dakota County.
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