Florida was recently named the top Senior Housing Construction States of 2015. Multi-family housing and Senior communities construction is on the rise and a great investment. Partnering with SWET Construction Group gives your next project an edge over the competition. With over 66 years of combined experience, we build trusting relationships with our clients as well as our network of suppliers. Contact SWET Construction Group today for your next project.
“By 2030, 73 million Americans will be 65 and older; nearly 9 million will be 85 and older. Seventy percent of those who reach 65 will require long-term services and supports, including help with tasks like bathing, cooking, and managing medications. Surveys show an overwhelming number of seniors want to age in place, yet their homes and communities are often ill-suited to make independent living a safe, viable option,” according to a Bipartisan Policy Center report.
“Our aim is to call attention to this emerging challenge facing our nation,” said task force member and former HUD Secretary Henry Cisneros. “This challenge offers incredible opportunity in the near-term, yet is on track to become a major crisis in the coming years if left unaddressed.”
Seniors Housing Market Highlights according to the National Seniors Housing Research Report by Marcus & Millichap
Independent Living (IL): Both occupancy and rents should improve this year as seniors unlock equity in homes and move into IL units. Occupancy is expected to rise 50 basis points to 92.3 percent by year-end 2015 while average rents advance 3.1 percent to $2,923 per month.
Assisted Living (AL): New construction will limit improvements in the sector this year, resulting in a 10-basis point rise in occupancy to 91.4 percent. Strong occupancy and high rents commanded by new properties will support a 2.3 percent gain in average rents this year to $4,268 per month.
Skilled Nursing (SN): Although occupancy has been stuck in neutral for the past several months, a slowdown in construction will support a 30-basis point increase this year to 88.5 percent. Rents will climb 2.1 percent in 2015 to $290 per bed, per day as tight government funding limits reimbursements.
Continuing Care Retirement Communities (CCRCs): A slowdown in the housing recovery could encourage some seniors who have been on the fence about releasing equity in their homes to move forward. Occupancy will rise 80 basis points in 2015 to 91.2 percent, while entrance fees will climb at a similar pace to 2014.