In a trend encouraging the construction of more senior housing, a new report is showing an increase in senior housing capacity as of the final quarter of last year. According to the Annapolis-based National Investment Center for Seniors Housing such occupancy hit the 81% mark in the last four months of 2021. That number is a marked increase over the 78.7% recorded in the spring of last year. Surveying 31 metropolitan markets, the NIC analysis notes that just over 21,000 units were newly occupied. In a blog post Beth Mace, chief economist with the non-profit, sees this statistic as a “clear reversal in trend from the loss of 42,129 units during the pandemic in the second, third and fourth quarters of 2020 and the first quarter of 2021.” The strongest markets surveyed in the analysis showed properties in Boston, San Francisco, and San Jose with occupancy rates more than 90%. Properties in Atlanta, Cleveland, and Houston, on the other hand, had occupancy rates below 80%. In an industry seminar held in Los Angeles in late February, Courtney Siegel, chief executive officer of the Oakmont Management Group, noted that only certain types of amenities have proven to be the most attractive to would-be residents. “We made changes in our value proposition to showcase items like safety, security, and the presence of a medical director,” Siegel said, adding: “The client that we were speaking to wasn’t interested in our highly amenitized buildings anymore.” By Garry Boulard
0 Comments
Your comment will be posted after it is approved.
Leave a Reply. |
Get stories like these right to your inbox.
|