Demand High, Supply Low
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|Ryan Cos completed its third Thomas Place project, the 100-unit Thomas Place Gurnee, an affordable seniors housing property. Demand for affordable seniors housing is strong in the Chicago area, Ryan Cos VP Dan Walsh tells us, because the need for modestly priced seniors housing remains mostly unmet. But it isn't enough just to develop something that can be rented inexpensively, he adds. He says the Thomas Place brand is distinctive because of its combination of architectural appearance—"looks like a four-star hotel"—and amenities, in relation to the rental price point. "We have figured out how to create the feel of a high-end property while staying within a regulated cost structure," Dan tells us.|