Skip to main content

Baby Boomers Impacting Senior Housing: Here’s How


Baby Boomers, defined by Merriam Webster as “a person born in the United States following the end of World War II (usually considered to be in the years from 1946 to 1964), make up a tremendously large generation. 

And, what’s more, the golden years are within sight and on the horizon for this great generation however, the lifestyle in which they live their golden years will likely look markedly different from those of generations past.

Baby Boomers are drastically changing the face of senior housing, choosing to forego the traditional retirement homes or communities in favor of a mature urban lifestyle that provides them with both accessibility and entertainment. 

Given the sheer size of their numbers, this shift is actually shaking up the commercial real estate industry and impacting the senior housing segment.

Let’s take a closer look at how Boomers are changing senior living.

An increase in life plan or communities

One of the biggest shifts we’re seeing is an increase in “age in place” or “life plan” communities. The idea behind these communities is simple to allow their residents the ability to stay in one place as they move through the various stages of life and care needed. These types of communities provide their residents with a wide range of services everything from completely independent living to more specialized care, such as memory care. This type of community is seen as a huge benefit to its residents, allowing them to stay in their apartment and in the communities they know and love, no matter how their needs for care may change over time.

A focus on technology

Believe it or not, Baby Boomers are actually the fastest growing demographic online today, seeing technology and wireless connectivity as more of a need and less of a want. As families continue to spread out and move farther away from each other, this type of connectivity is crucial for Boomers to keep in touch with their children, grandchildren, and friends. Take a stroll through one of today’s senior living communities, and you’ll likely find many senior on their tablet or smartphone, scrolling through social media, FaceTiming with their grandkids, looking at photos, reading a blog, or playing games to help keep their brains sharp.

Options galore

It comes as no surprise that Baby Boomers are a generation that doesn’t like to feel bored. As a result, senior living communities have had to adapt in order to keep up and remain competitive. Long gone are the quiet and sterile communities of yesterday today’s seniors want it all, and they want it all in one place. To meet their demands, senior communities today offer a plethora of activities, opportunities, events and more all designed to enhance and complement the lifestyle of their residents.

A nod to urban living with added convenience

Today’s Boomers place a tremendous value on convenience and they’re looking for a place to live that is truly in the middle of it all. By providing easy access to shopping, dining, arts and cultural events, healthcare and more, smart senior living communities are not only meeting the expectations of their residents they’re exceeding them.

Comments

Popular posts from this blog

4 Senior Housing Trends That Will Continue to Change the Space in 2020

Senior housing developments have been a popular conversation within the commercial real estate business. As the life expectancy of seniors keeps getting older and older, the growing elderly population faced a serious housing crisis in 2019. The 80+ population skyrocketed before CRE could keep up. And when it finally did, there was a lot of work to do. In order to accommodate today’s aging population, senior housing developments were a serious need. Even though investor demand started off slow, the sudden boom motivated commercial real estate developers and investors to take action and begin making moves. With more CRE pros jumping on the senior housing market opportunities, the competition went from 0 to 100 in no time. As a result, an amenity-war has broken out - but it’s unlike anything you’ve ever seen before. Let’s look at these 4 senior housing trends that are redesigning the senior housing module in 2020 and beyond: In-House Medical Services Seniors ...

NAI Emory Hill Sells Wilmington Shopping Center

  Wilmington, DE – NAI Emory Hill ( www.naiemoryhill.com ) is pleased to announce the sale of a 8,710 square foot shopping center located at 2308 Concord Pike in Wilmington, DE to The Wittig Family at DSM Commercial. Dave Morrison and Jim O’Hara Jr., of NAI Emory Hill, represented the purchaser and Seller in this transaction. This retail center is anchored by Mattress Firm, Green Drop and China Inn. The center is strategically located at the intersection of Sharpley Road and offers a great retail location along the busy Route 202 corridor. NAI Emory Hill is a completely full-service commercial and residential real estate firm serving Delaware and the surrounding counties of Maryland, New Jersey and Pennsylvania. Founded in 1981, we have the resources to design, build, finance, lease, sell, manage and maintain commercial and residential properties throughout the Mid-Atlantic . Learn more about our services at: www.propertymanagementdelaware.com www.emoryhillhomes.com

Protecting NOI in the Senior Living Space

When observing the latest trends in senior living, don’t jump to any conclusions - make sure you’ve got the whole picture first. CRE’s senior living sector is facing low occupancy rates - but that doesn’t mean the industry isn’t standing strong. When it comes to NOI, occupancy isn’t everything. While a property’s occupancy rates can act as the main contributor to net operating income, there are other elements that help fuel profits for commercial real estate investors . So what’s going on in the senior living spaces that are sparking turbulence for commercial real estate? Here’s a breakdown: Construction is Booming For the last few years, senior living spaces have been undergoing a surge of construction. Unfortunately, this elongated period of growth has taken a major hit on occupancy rates. In the five years between 2014 and 2019, national occupancy rates for senior living facilities have dropped 2.5% . As reported by the National Investment Center for Senior H...