It’s no secret that many existing senior apartment complexes and newly constructed age restricted communities are suffering but what about the consequences, real or perceived, of opening these facilities up to a 55 and under crowd? A recent article in the Orlando Sentinel entitled “Vacancies force senior apartment complex to open doors to all ages”, demonstrates some of the choices these facilities are facing. When reading the details of the facilities story, which is located in Central Florida, it is obvious that the facility needs the extra cash flow and is looking for other alternatives to generate revenue. Looking at how people are leaving the state of Florida (at least migrating out for now), it’s a wonder if lowering the age standard will really bring in more residents to the facility as it has to compete with other apartment buildings around the area. While it may be unpopular to talk about lowering the limit, it beats the alternative of having to shut down facilities and have residents move out which is a much messier story than the concerns of letting a younger generation crash in the apartment complex.
Receive industry updates and breaking news from SHN
SHN + Talks
Sunrise Senior Living | Park Ridge, Illinois
Sunrise Senior Living | Potomac Falls, Virginia
Sunrise Senior Living | San Mateo, California