12/13/2017: Brian Binke Featured in Construction Today
American Baby Boomers are retiring in record numbers and are often looking to simplify their living arrangements. With the number of Americans over 65 years expected to (more than) double to 88.5 million by 2050, it’s easy to see that assisted living construction will be in high demand. Even though a significant portion of the aging population prefers to remain in their own homes, there are also those who need more specialized living arrangements that are typically provided by senior living communities, nursing homes or assisted living facilities.
But, there are also those seniors who just wish to downsize from their current homes and opt for something a little more flexible. For instance, homes with step-less entries, lower shower thresholds and wider doorways are just a few of the common features associated with senior living construction.
There are also resort-style facilities with features and amenities such as social areas, game room, bar and lounge, movie theater, and a senior-equipped fitness and wellness center. Some even have an outdoor heated pool and professional beauty salon and spa with an onsite barber shop.
Recent Multifamily/Senior Living Projects
The demand for assisted living construction is evident by the number of developers breaking ground on new facilities and renovating many of the existing buildings. Some recent announcements include:
- Developer Castle & Cooke broke ground Thursday on the 576-acre, 3,500-unit $2 billion residential mixed-use Koa Ridge project in Oahu, Hawaii, according to KITV Island News. The project is expected to take 10 years to complete, but the first homes will be available in 2019. The project’s residential component will offer up single-family, multifamily and senior housing options, with approximately 1,000 of the total units affordable.