Not Your Father’s Senior Living Community

As the baby boomer generation begins turning 70, senior living providers will have tremendous opportunities.  At the same time, they will face the challenge of reinventing their business and providing innovative solutions to meet the needs and demands of this new generation. Today’s seniors are looking for options that deliver the comforts and amenities of home.  This trend is changing the design and construction of senior living communities.  Designers are incorporating more residential design elements and finishes into new buildings, resulting in vibrant and comfortable spaces that are very inviting for residents.  The buildings being designed and constructed today are not your father’s senior living facility. By involving a general contractor very early in the planning process, working collaboratively with the design team, an owner can understand costs, lead times and constructability of various design components, and have the ability to make timely decisions.  The general contractor can also provide potential alternative options...

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Senior Living: Meeting the Changing Needs

The Interface Conference in Atlanta proposed some interesting questions with possible answers.  Everyone talks about the first baby boomers turning 72, intimating that this is a positive for senior living.  But the average entry age for senior living properties is about 85, depending on who you talk to, so there is a long time to wait for the first baby boomer.  Not surprisingly, developers are starting to think about how to attract baby boomer retirees.  Minimal, à la carte services in an affordable, yet reasonably sized apartment is one.  Home health care can be layered on at a later date.  One provider is using food trucks for his kitchen, a different truck, with different types of food every night.  It’s amazing to me to see the number of people my age retiring.  Though they are closer to 60, there is a discussion of downsizing, lower maintenance, more freedom, and more...

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Baby Boomers — The New Wave in Senior Living

The baby boomers, the massive increase in births that occurred between 1945 and 1964, started turning 65 in 2011.  The population of people over 65 stood at just over 41 million people in 2011.  With approximately 10,000 people turning 65 each day, the over-65 population is projected to grow to over 85 million by 2050. The baby boomers have shaped the housing market for many years, and as baby boomers approach retirement, there is no doubt, they will shape the senior housing market for years into the future.  Market studies indicate that as baby boomer age, they want to maintain an active lifestyle either within their own community, or a community near their adult children.  While many seniors prefer to stay in their homes as long as possible, a higher percentage of the baby boomer generation, compared to the previous generation, desire an easier “carefree” lifestyle. Senior (age restricted) apartment communities, villas,...

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Senior Living for the Middle Market

Lately, as I talk with our senior living clients, many of them seem to be thinking about the same challenge.  Similarly, that same challenge seems to be the topic of seminars at recent industry conferences, as well as the subject of several articles published in many of the trade magazines.  How do we provide senior living solutions to the middle market? For much of the past thirty-five-plus years, development and growth of the senior living industry has been off the charts.  Everyone understands that as the baby boomers age, we will be hard-pressed to meet the demand, however currently there continues to be concern and discussion that the market is becoming overbuilt.  But upon further study, one will quickly discover that most of the growth and development has been either on the high-end or on the affordable/subsidized end of the market.  Very little new development has been targeted at the middle...

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