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...Read More >
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 have 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...Read More >