Trends in Senior Housing
The United States Department of Housing and Urban Development (HUD) has recently confirmed what has been perceived by Bailey Edward in recent years: the need for senior housing will increase dramatically over the next 30 years. This need will translate into new facilities, as well as renovations and upgrades to existing low income senior housing.
Furthermore, the gap between independent living and long term care facilities will need to be filled to accommodate seniors that would best be classified as assisted living candidates.
“The A/E industry can expect to see an influx of work in the senior housing industry in the coming years,” said Zach Clark, Bailey Edward’s Senior Housing Leader. “This work will come in the form of new construction to fill current gaps in services, expansion of existing facilities to meet projected growth and upgrades / renovations to existing facilities to meet the new standard of a ‘resort feel’ within these communities.”
This information coupled with the possibility for changes in HUD financing would potentially create an influx of funding for both low income senior housing and low income assisted living.
Said Clark, “Bailey Edward continues to collect new data and develop our portfolio in this market. We look forward to the prospect of an increased demand for senior housing as we continue to strive to meet our motto to provide architecture and engineering services to clients that serve, support and protect the public.”