When the city of Woodbury was incorporated in 1967, it was a rural township. For those earlier residents who remember acres of farmland and stretches of empty road, it would have been impossible to imagine the progressive community that Woodbury is today. In fact, Woodbury is Minnesota’s 10th largest community, landing on national lists such as “Best Places to Live” (Money Magazine, 2012), “Best Places to Raise your Kids” (Business Week, 2010), and “Best Places to Move in the U.S.” (Forbes online, 2009).
Earning that reputation didn’t come without careful planning. “Woodbury’s growth really began back in the 1980s,” says Eric Searles, senior planner for the city of Woodbury. “We have been expanding over the past 30 years in accordance to our city’s long-range housing plan and now, in 2014, we’re going into ‘Phase 2’ of the plan, with continued growth projected through 2025 and beyond.”
Those housing plans guided Woodbury through significant growth from 1990 to 2010, with the city tripling in size from approximately 20,000 residents to 65,000 today. Although housing growth slowed significantly during the country’s economic recession, 2013 proved to be a year of renewed momentum, with the city ranked fourth in new housing units behind Minneapolis, Plymouth and Maple Grove.
Homes on the Horizon
Phase 1 of Woodbury’s long-range housing plan concentrated on neighborhoods such as Bailey’s Arbor, Dancing Waters and Stonemill Farms (accounting for 4,489 residential units total). As Phase 1 will be principally complete later this year, with a few lots left, Phase 2 will focus on land south of Bailey Road, extending from west of Radio Drive to east of Woodbury Drive and surrounding East Ridge High School and Bielenberg Sports Center. This 2,150-acre area has enough space to accommodate 6,000 new residential units in the first three active subdivisions which include Ashton Ridge, Bailey Lake and Southridge, with homes for sale by Lennar, Ryland and Pulte.
“Woodbury has a strong reputation in new construction,” says Wade Hanson, luxury broker for RE/MAX Results. The Phase 2 expansion will enable Woodbury “to continue to feature design and housing trends that attract new homeowners and younger buyers.”
Not all buyers are looking for new construction, of course. “They’re ready to buy and Woodbury is one of the communities of choice,” says Dixie Ewing, Realtor at Edina Realty. “The market is heating up again.” Hanson agrees. “We’ve done a 180 from two years ago,” he says. “Today we’re experiencing low inventory and high market demand. It’s an excellent time to sell.”
While new homes add vitality to a growing community, they can present a challenge to existing home sellers who must “compete with new construction and the design features of model homes,” Hanson says. Therefore, realtors suggest sellers make their properties “model home” ready by adding simple renovations such as fresh paint, new carpets, updated kitchens and outdoor living spaces.
Another recommendation for homeowners is to do those improvements now, rather than wait until your house goes on the market. “I encourage people to continually maintain and update their homes because there is a big difference between a home that has been looked after to a house that has been ‘fixed up,’” Ewing says. “By updating your home while you live in it, you’ll get to enjoy the new features as much as the next owner.”
Weathering the Storm
The recession that began in December 2007 had an impact beyond slowed new housing starts. Woodbury neighborhoods were affected with underwater mortgages and foreclosures. Beginning in 2006, the city saw a dramatic increase in foreclosures with a high of 421 in 2009. Fortunately, that number has been steadily decreasing as the economy recovers. In fact, according to Karl Batalden, housing and economic development coordinator for the city of Woodbury, 2013 saw a 37 percent decrease in foreclosures over 2012, and says “the city is cautiously optimistic that 2014 will see fewer than 100 sheriff’s sales for the first year since 2005.”
“Some people who purchased their homes during the high time may still be underwater,” says Kim Ziton, real estate consultant, Keller Williams Premier Realty. “The good news is home values are rising steadily and the inventory in short sales and foreclosures is slowing down.”
According to the Federal Reserve Bank of Minneapolis, some of the most negatively affected metro area homes in 2012 were located in Woodbury’s 55125 zip code. By comparison, 2013 data indicated Woodbury’s housing stock was recovering and 55125 lost its designation as being severely underwater. “There’s definitely an upswing and further gains are expected ahead,” Batalden says. “Woodbury values have stabilized and homeowners are regaining lost equity.”
Hanson agrees. “Year over year, our homes are up 12 percent over last year in value, and mortgages are starting to come up from being underwater. Statistically, home values are still 5–6 percent below their peak from October 2006, so we still have room to grow, but I believe we’ll see those percentages continue to improve in 2014.”
Neighborhoods made Affordable In Woodbury, the affordable housing story is one of partnerships. Affordable housing in this city was first offered in the form of public and private senior housing via the Washington County HRA. Then, affordable family housing arrived in 2000 when Duffy Development built the first of its three housing tax credit-financed townhome projects.
“In the past we helped bring people together, such as the partnership between Bailey’s Arbor and Habitat for Humanity in a project to build affordable homes that were indistinguishable from their neighbors,” Batalden says. Habitat’s subsequent construction in Bailey’s Arbor and Garden Gate has made Woodbury home to 67 Habitat families (and six more homes are currently being built in Garden Gate), which is the largest number in the metro outside of Minneapolis and St. Paul.
“We also started to offer first-time home buyer loans and funding incentives in 2009 to offer some capital for assistance,” Batalden says. Since their inception, the four loan programs have issued 98 loans for a total of $2.3 million.
A Sense of Community
So, what makes Woodbury an ideal home for so many? In a word—community. “From the beginning, the city’s strategic plan has been, for the ‘good of the people and the whole community,’” Ewing says.
Having grown up in Woodbury, Hanson believes in his hometown. “It’s a strong community with excellent schools, parks and medical facilities,” he says. “It is close to the Cities, Fortune 500 employers and the airport. It offers affordability of a strong community.” Whether you are new to Woodbury or not, Hanson believes “homeownership remains the best way to accumulate wealth, and this is an ideal community for people to make that investment.”
Welcome to the Neighborhood
The Timm Family
When Dave and Beth Timm were planning their move from Chicago to Minnesota in 2012, they searched for a home that offered a mature neighborhood, excellent schools, convenient shopping, and an easy commute to Dave’s new job in St. Paul. After considering several east metro communities, they, too, found the perfect house for their family in Woodbury.
Looking back, Woodbury proved to be the right decision for the Timms and their two sons, one a college student and the other a student at East Ridge High School. “This community had the right balance of what we were looking for,” Dave says. “Everything we hoped Woodbury could offer our family has held true. We’re very happy in our new home.”
The Shillings Family
After completing a two-year work assignment in Toronto, Paloma and Joe Shillings were eager to resettle in the Twin Cities with their son, Beckett. After considering several communities, their search led them back to Woodbury, the community where they had lived prior to their Canada relocation and where Joe has family. “We realized that Woodbury is home for us,” Paloma says. “We like all that Woodbury has to offer—great schools, lakes and parks, and shopping and dining.”
With the help of their realtor, Kim Ziton, the Shillings found their ideal home and moved in January of this year. “Kim helped educate us on the different neighborhoods within Woodbury and showed us several great homes in our price range,” Paloma says.
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Chart statistics provided by City of Woodbury Housing and Economic Development Department.
