Granite Falls Releases Study to Promote Housing Development.
Looking to promote single family and multi-family housing development, Granite Falls Economic Development Authority completed a Housing Study in April 2021. The Comprehensive Housing Market Study was conducted by Community Partners Research Partners, Inc., and shares recommendations on a five-year growth projection in order to meet the needs of current and future households.
The study identifies a projected demand for three to five owner-occupied units to be constructed annually within the city limits. Based on Granite Falls’ low vacancy levels, there is a pent-up demand for 20 to 24 market rate units and 20-30 moderate market rate rentals. With an aging population, Granite Falls would benefit from the development of 22 to 26 assisted living and 16 to 20 beds for memory care housing. Detailed demographic information and the full list of housing recommendations can be found at granitefallseda.com.
The EDA works with residents, building owners and developers to assist in providing a broad range of housing options within the city limits of Granite Falls. A volunteer Housing Committee will be meeting on a regular basis to develop an implementation plan and begin addressing the recommendations.
Individuals interested in discussing potential sites and types of business assistance/partnerships for housing development in Granite Falls, should contact Linda Mathiasen, Granite Falls EDA Executive Director at linda.mathiasen@granitefalls.com or 320-269-1878.
Granite Falls Minnesota 