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Senior Housing > Blog > 2017 > March

‘Luxury’ Senior Living Communities on the Rise

It’s no secret that the landscape of senior living is changing in a major way right now, thanks in part to Baby Boomers and lifestyle changes. With this in mind, senior living providers are having to make some major changes. Not only are we seeing many assisted living communities undergo renovations in order to meet new regulations and attract residents, but architects and design experts are being brought on board to ensure new construction is on the right track. As we discussed earlier this month, memory care facilities and other similar senior care communities are realizing the importance of creating both a welcoming and stimulating environment for residents.

Nursing homes and senior living facilities as we knew them in the past are just that – a thing of the past. Today one of the hottest trends is luxury senior living. When looking at all the current senior housing construction products, it is clear that luxury living is a top priority. Not only are we living longer, but many people are choosing to enter independent living communities on their own accord, which means their needs are changing and they are more likely to go with a facility that will meet these needs – and then some.

What to Expect

With this in mind, senior housing developers are focusing on luxury senior housing in order to meet these demands. Many Baby Boomers entering into retirement and the next phase of their life have money to spend and are willing to spend more in order to live comfortably and with all the amenities they would ever wish for. According to a recent report, there is an estimated $3 trillion of net worth amongst Baby Boomers. While not all of them have deep pockets, many of them do and know exactly how they want to spend it.

Baby Boomers aren’t afraid to go after what they want, which means class, sophistication, and endless amenities, in this particular case. For Baby Boomers with money in the bank and millions in liquid assets, one of the top places they will spend their fortune is on their living situation. More and more people are choosing to downsize before it’s too late, which means looking for an independent living community that will provide them with exactly what they are looking for. With assisted living rent continuing to increase, we expect those looking for a piece of luxury in their senior living community to become more and more common. Thankfully it seems developers understand this and are doing what they can to keep up with the high volume of Boomers looking to trade their 5 bedroom house for a more modest, but equally luxurious, independent living situation.

For more information on the current state of the senior living industry, please contact Shep Roylance of The JCH Group today.

How to Create a More Welcoming Memory Care Setting

Memory care facilities are facing numerous challenges today, many of which they did not expect. As we have discussed over the last several weeks, design and development trends are impacting the senior housing industry in a major way. This is due to numerous factors, including changing demographics (ahem, Baby Boomers), the introduction of technology, and different lifestyle needs of residents. For both new and well-established memory care facilities, it is important that developers take a step back and look at the various design elements that will help enhance a resident’s experience.

While this is important for all senior living communities, it is particularly the case for memory care facilities that cater to residents with Alzheimer’s and other forms of dementia. Memory care centers have the unique task of not only providing the basics for their residents, but coming up with design and development plans that are strategic and will prevent individuals from wandering off and even exiting the community entirely. This is a challenge, to say the least. However, it is important to create a space where residents will feel safe, protected, and still comfortable. In the past many memory care communities were more confined and even prison-like, not that we throw that term around lightly. Thanks to advancements in technology, innovations in design, and a better understanding of how to care for dementia residents, memory care facilities are in a much better place to care for those under their roof.

What Can We Do?

The first thing to keep in mind when trying to decide which direction to take during new development or a renovation is to consider your residents. There are a wide range of design elements that can be incorporated into memory care facilities today that address exit-seeking behavior patterns and other concerns as they relate to dementia patients. Diversion tactics are a great way to go, one memory care facility even transformed their entry vestibule to look like a post office where residents can browse newspapers, magazines, and other publications. This has been proven to take away the desire to bolt, instead provide a great outlet for residents experiencing any emotional uneasiness.

This is just one great example of how a memory care community has addressed the changing population and done so in a positive way. It is imperative we take the time to understand our population and provide them with a setting that is welcoming, comfortable, and safe. To learn more about investment opportunities in senior housing or if you have any questions about our current listings, please contact Shep Roylance of The JCH Senior Housing Group.