High-Rises For Seniors Could Replace Suburban Model
Aging Baby Boomers don’t want to be tucked away in the suburbs, and developers are taking note. America’s largest cities are seeing retirement communities rise skyward.
Senior housing operators and developers are offering condo-like services and buildings without a clinical feel to attract younger seniors—but it isn’t cheap. A room at the Ventana by Buckner in Dallas, for example, requires a $1.3M buy-in fee and a $9k monthly fee for a three-bedroom home, the Wall Street Journal reports.
In NYC a 23-story senior residence is being thrown up on the Upper East Side that will offer over 200 units of independent living, assisted living and memory care for its residents. Contrary to overbuilding in the senior housing sector at large, these developments target aging luxury buyers who love the city and refuse to leave. [WSJ]