Developers providing senior living communities are finding a challenging environment for new projects given inflation and tight markets for labor and materials. There also is a notable shift in adult consumer needs.
Senior housing experts indicate a growing need for rental active adult communities that serve the middle market. Aging baby boomers are looking for affordable alternatives to staying in their current homes.
The challenge is to create a hybrid providing the amenities that active adults want while allowing people to age in place once they’re settled. To meet that need, developers are looking at joint ventures with Medicare Advantage providers to be able to align their services with these rental communities.
The goal is to provide an independent living-style alternative that will be there when active adults get older so they can remain in place and provide community owners with longer-term revenue streams.
Analysts see 2023 as the “year of the consumer.” To ensure future success, property owners will have to meld hospitality amenities with wellness services to keep seniors active and thriving.
Council of Seniors Wants You to Enjoy Retirement
You should be able to live comfortably and without stress in retirement. That’s one reason why Council of Seniors believes Congress must pass The SAVE Benefits Act now. We’re pushing for this bill to make up for insufficient Social Security cost of living adjustments (COLAs) that didn’t keep up with inflation in recent years. The amount of $581 was withheld from seniors, and it’s time for it to be returned.
Signing our petition is one positive way you can help. We must show Congress how many people are backing this legislation.
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