Would Betty White Live Here?
If Golden Girls were filmed today, we think the gals would more likely be eating cheesecake in San Antonio than Miami. Why? We rank No. 1 among the nation's largest metro markets for construction of independent living facilities for seniors and sixth for construction of assisted living facilities for seniors.
ARA seniors housing managing director Debbie Laycock (right with Trophy Club mayor Connie White at a Dallas Bisnow event last week) tells us San Antonio has 22 independent living facilities with more than 5,000 units and 427 new units under construction (that’s an 8.2% increase in inventory), according to NIC Map, a seniors housing industry data provider. The demand is growing for these products with almost 3% growth annually for the next five years among the population 65 and older, Debbie says. (That also likely means a growth in Luby’s Restaurants in San Antonio, too.)
Memory care products are also gearing up with 1,500 units being added nationally to the existing inventory of 15,000 across those top markets. From a micro-market standpoint, some may think that sector is overheating, but Debbie thinks there is demand across the board. And that demand will grow across all asset classes of seniors housing, she says. (Fun fact: Debbie likes adventure travel. Think hanggliding in Rio.)