Tuesday, April 26, 2011

Assisted Living Construction Lagging Behind Baby Boomer Demand

ATLANTA, GA – A leading analyst on assisted living and senior housing predicted on the Commercial Real Estate Show that baby boomers could be in trouble when they start looking for assisted living facilities — unless construction increases rapidly.

“Are we building enough to meet the levels of demand? I think the simple answer is probably not,” Mike Hargrave (top right photo), vice president of the National Investment Center for the Seniors Housing and Care Industry, told radio host Michael Bull (lower left photo). “We’re looking at long, sustained growing demand starting in 2015 and construction has to pick up in order to meet the demand.”

 According to Hargrave, construction on new units for seniors housing is down 75 percent. With construction on new units continuing to dip, available space is barely meeting current demand from the market. And as baby boomers inch closer toward their twilight years, the need will continue to increase.

The retail show aired Saturday on Biz 1190 WAFS in Atlanta and is available for download at the show web site.

The next Commercial Real Estate Show will air April 30 and will include guests from the largest market data and research firms in the industry. Guests will include Dan Fasulo, managing director at Real Capital Analytics; and Chris Mack, senior real estate strategist at CoStar Group.

Contact: Midd Read
Office: (404) 965-5024
Cell: (404) 901-4433

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