Archive for Senior Housing

Dec
04

ARA Seniors Housing Releases 3Q Trend Report

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Seniors housing occupancy rose 30 bps in the third quarter of 2013, marking a halfway point in the metric’s recovery since the recession’s lows. While it increased in both primary and secondary markets during the quarter, the secondary markets pulled the overall seniors housing occupancy level up to 89.7%. Occupancy rose in both the independent living and assisted living segments, increasing 20 bps for IL properties and 40 bps for AL properties in the third quarter, according to the NIC MAP® Data and Analysis Service, 3Q2013. Occupancy remains the lowest in freestanding memory care properties, at 85.0%, and highest in combined independent/assisted living properties, at 90.3%.

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Categories : National News
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Apr
30

ARA Seniors Housing Trend Report Released

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Click on the photo to download the report.

Categories : National News
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Dec
18

North Charleston Plans Senior Living Development

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The city of North Charleston is preparing for an aging population by selling two parcels of land to create park space, a grocery store and senior living.

In October, the city purchased the former Charleston naval hospital from the federal government via online auction through the General Services Administration. The property at 3600 Rivers Ave. includes the 10-story hospital, barracks and 23 acres of property and was purchased for $2 million.

The city had also purchased and cleared the former Shipyard Square shopping center, at a cost of $4.2 million.

Chicora Gardens Holdings LLC is purchasing the two plots for $9.2 million and could present a plan for development to the city as early as Dec. 20.

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Categories : Charleston
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Oct
23

Carolinas Attracting Senior Housing Developers

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Senior housing developers might find a new construction sweet spot in the Carolinas in 2013, if favorable demographics, lower barriers to entry, and growing consumer preference are any indication.

The Carolinas are two states with fairly healthy economic conditions and good demand, according to Charles Bissell, MAI, of Integra Realty Resources’ Seniors Housing & Health Care Specialty Practice. “We’re hearing a lot of developers talking about projects in the Winston-Salem, Raleigh-Durham, and Charlotte metro areas,” he says.

Neither North nor South Carolina are covered by the National Investment Center for the Seniors Housing & Care Industry’s market area profiles (NIC MAP) for construction versus inventory data, which ranks at 1.99% for MAP31 (the top 31 market area profiles) as of the third quarter of 2012.

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Sep
07

Myrtle Beach Sees Increased Demand for Senior Housing

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The rapidly growing senior population along the Grand Strand is driving the need for housing and developments that cater to the group that wants to live independently for as long as possible.

Housing, especially affordable housing, is one of the most important needs for the area’s aging population, said Ray Fontaine, director of the Horry County Council on Aging.

“I don’t mean the stereotypical housing project but a decent, clean respectable community that is aesthetically pleasing,” he said.

The early retiree population in Horry County – those between 55 and 64 – grew about 73.5 percent during the past 10 years, according to the U.S. Census Bureau. The number of residents above the age of 65 grew 56 percent between 2000 and 2010, compared to the roughly 35 percent growth of 18 to 64 year old residents, according to the Census.

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Categories : Myrtle Beach
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