Why design urban senior living?
01 December 2014 | Posted in Multifamily, Denver Market, Assisted Living/Senior Housing
Principal, SlaterPaull | Hord Coplan Macht
We are seeing an increasing trend toward designing and building senior living communities in more urban areas. Why? A multitude of reasons, including preferences by seniors to be more engaged and less sedentary. Many are opting to live in close proximity to their younger family members and in walking distance to cultural, recreational and social amenities such as restaurants, museums, theaters, fitness centers and shops and near top-notch medical facilities.
According to the U.S. Census, the over-65 population is expected to reach 55 million by 2020. The Urban Land Institute’s 2014 Emerging Trends in Real Estate Report cited, “The attraction of urbanization is again reflected in the high rating received by infill and in-town housing. This perennial first-place choice for best prospects is followed by seniors’ housing and the single-family sector.” The report ranked senior housing third in terms of development prospects, second to infill/in-town housing.
Read Tipton's entire article in the upcoming Dec. 17-Jan. 6 issue of the Colorado Real Estate Journal. View the blog post.