The Montevideo City Council held a joint meeting with the Montevideo Economic Authority on Monday evening to go over the results of the recently completed housing assessment. The meeting was held at the Montevideo Community Center.

The Montevideo City Council held a joint meeting with the Montevideo Economic Authority on Monday evening to go over the results of the recently completed housing assessment. The meeting was held at the Montevideo Community Center.

The assessment was completed by AdMark Resources, who was hired to do the study late last year. Mark Schoenecker, President and founder of AdMark Resources, presented the findings to a small crowd of realtors, developers, investors, and other interested parties.

Marvin Garbe, chairman of the EDA explained why a housing study was needed. He said: “We know we have a housing shortage, but you cannot ask people to build apartments, single family homes, or whatever you might want, without doing a study.”

Garbe went on to explain how such a study would help with idenifying needs, as well as giving investors and developers a tool to use when seeking funding options. Garbe then introduced Schoenecker, who proceeded to go through the study in detail.

Schoenecker began his presentation by acknowledging that some things may have changed in the community since the study was done. “This housing study is based on a snapshot in time from January of this year, and things may have changed since then,” said Schoenecker.

The study by AdMark Resources was comprehensive and looked at numerous types of information in order to form their conclusions. Such things that were looked at were: location and market area definition, populations and households, employment and economy, single family home market, existing rental stock, and housing demand.

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