The construction industry is in the midst of a fragmented recovery from the disruption caused by Covid-19, mirroring the general economy. Senior housing construction projects with financing in place before the coronavirus swept across the country in the spring are underway, while those announced during the outbreak struggle to secure financing, according to developers who […]
Accessory dwelling units — which are sometimes used as a senior housing option — became much more commonplace across the United States between 1997 and 2019, with certain markets emerging as hotspots. In particular, cities in the South and West are prime locations for accessory dwelling units (ADUs), according to first-of-its-kind research from Freddie Mac. […]
The impact of the Covid-19 pandemic has yet to seriously impact the construction industry, but experts believe that it is a matter of when, not if, the crisis will have deleterious effects on construction timetables, supply chains and an already shallow labor pool. For expensive construction projects such as senior housing, that can lead to […]
A small Wisconsin Catholic university will break ground this summer on a $45 million intergenerational housing development combining independent and assisted living for seniors and nuns, with housing for single mothers pursuing degrees at the school. The development at Mount Mary University in Milwaukee will serve the dual purposes of establishing a support system for […]
Muji is joining the ranks of companies, including IKEA, looking to meet the demand for affordable senior housing through prefabrication. Based in Japan, Muji has grown from a retailer of home goods to an internationally recognized brand with more than 500 stores in urban centers such as New York City, where it also offers products […]
Average senior housing occupancy inched forward in Q4 2019 to 88.1%, up 10 basis points from the previous quarter’s 88% rate, according to new data from the National Investment Center for Seniors Housing & Care (NIC). But a deeper dive into the data paints a richer picture, including a possible inflection point for assisted living, […]
One of the highest-profile adaptive reuse senior housing developments is on pace for a spring 2020 opening, and the companies involved have started to showcase what they are bringing to market. The Watermark at Brooklyn Heights is transforming the landmark 16-story Leverich Towers Hotel in Brooklyn into 275 units — 204 assisted living, 42 memory […]
The senior housing development landscape is still strong, but many deals are taking longer to close and buildings are taking longer to fill up. Labor shortages are a primary culprit. “We’re seeing a lot of projects being pushed,” said Douglas Kimes, senior vice president/national director of healthcare for TCF Commercial Banking. He spoke Tuesday at […]
Senior housing developers and owners looking for construction financing are adjusting to a changing lending environment — scaling down the size of new projects, placing more equity in their capital stacks and turning to other sources as banks tighten lending and construction costs continue to rise. The lending environment, the high costs of building, and […]
Senior living is currently grappling with the effects of oversupply in some markets. Even more new supply will be needed to meet the demand for senior housing from baby boomers, though, suggests new analysis from the National Investment Center for Seniors Housing & Care (NIC). Using the 80-plus household cohort as a baseline, NIC used […]
