As baby boomers age and seek healthier, greener senior living alternatives, the number of “eco-conscious” retirement communities — while still rare in the U.S. — is expected to grow in number, according to a recent New York Times article.
“Moving forward, in the next 20 years, these green communities will become the standard,” said Andrew Carle, professor, executive-in-residence and founding director of the Program in Senior Housing Administration at George Mason University.
Energy- and water-saving initiatives, including geothermal heating and low-flow toilets, airy spaces with more natural light and indoor furnishings that use far less toxic materials — these are some of the hallmarks of “green” senior living communities, which can benefit significantly by reducing their carbon footprints.
“These communities can also reap subsidies and incentives that might provide more motivation to make the upgrades,” the NYT writes.
While there are lots of green communities in the development stage, there’s still far more need than supply, especially as baby boomers age, according to Jamie Hopkins, associate professor of taxation at the American College of Financial Services, who noted that some communities even have five-year waiting lists.
For now, green retirement communities are largely upscale and in the Northeast and Northwest, but opportunity remains for senior living providers to tap into an underserved market and reap the benefits.
To read the full New York Times article, click here.
Written by Emily Study