Seniors Housing
City of Big Shoulders Is Tops for Seniors Housing Development, But Will that Weigh it Down?
Source: nreionline.com
"Forget about the failed Olympic bid or another disappointing season for the Cubs. Chicago is second to none in seniors housing. In fact, the Chicago area heads the list of big metro markets with the most new units under construction.
Even more product is poised to hit the market as developers move ahead with plans for a handful of big projects. Although the construction wave raises concerns about a potential supply glut, sources say a recent upswing in leasing activity could help absorb some of that space after several years of rising vacancies."
Headlines
Annotated Bibliography (Link Library)
Comments
It does make sense to capitalize on the senior population that is slated to grow steadily in coming years. In our market student housing and senior housing seem to show the best health, although seniors' inability to sell their homes, as well as shrinking investments have caused a stagnation in the seniors' ability to move into housing that will provide the assistance and services from which they will benefit and many seriously need. It makes sense to be poised to accept the flow that will steadily grow when economic conditions improve to permit normal processes to be restored.
I found this article to be most informative. Apparently the developers are not too concerned with the overbuild in the Chicago area. I always appreciate that IREM provides regional news and updates that are of interest to many.
- Owen Ahearn | Flag this comment for review