4 Senior Housing Trends in 2020
NAI Global | March 10, 2020
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 living longer means they need advanced (and oftentimes continuous) medical care. In order to meet this common resident need, medical spaces are being built into the new senior communities.
This makes it easy and convenient for seniors to get the medical care and attention they need without having to travel for appointments. In the case of an emergency, having a trained medical staff on-site helps address issues as soon as possible. This is providing senior residents with comfort, security, and assurance that they’re fully taken care of.
Senior development staff members are blurring the lines between caretakers, nurses, and companions. Instead, they are embodying all of those roles - not just one of them. Trained professionals are key to building a winning senior housing team.
New developments need to make sure that they’re hiring compassionate, educated, and experienced members who have undergone the necessary training.
Including All the Comforts of Home
Don’t be mistaken - contemporary senior housing communities are not old-fashioned nursing homes.
Just because seniors have left their previous homes doesn’t mean they have to give up the comforts of independent living. Senior living communities are filled with winning amenities such as entertainment systems, gorgeous interiors, lush landscaping, walking areas, delicious dining, and more.
2020’s senior developments are helping seniors to live their best lives at an affordable rate - all while they’re fully taken care of.
Don’t Forget About Luxury
Developers are not forgetting to include luxury onto their list of necessities.
Whether it’s ultra-luxe experiences like spas and specialty classes, or top-tier technologies like Smart Security and digital automation tools; there is certainly no lack of luxury in 2020’s senior housing communities.
Luxuries like these are making life easier for residents. They don’t have to worry about the difficult list of homeowners’ responsibilities. Instead, almost everything can be accomplished with the click of a button. This provides senior residents with more time to do what they love.
These 4 trends are changing the spaces of CRE’s senior housing properties. Make sure you’re watching these trends as the experts expect them to continue making their mark on senior developments in the future.