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Silver Tsunami Fueling Medical Office Growth

And many developers believe healthcare and retail make great neighbors.

chi-newcity 3 (2) Structured Development’s NEWCITY project in Chicago has found that medical office blends well with many other retail uses.

CHICAGO—The senior population is growing and, increasingly, gravitating to the rental lifestyle. The number of Americans age 65 and older increased from 35 million in 2000 to 49.2 million in 2016, and experts predict this generation will live longer than previous ones, fueling an unprecedented housing boom that will also bolster other property types like medical office.

“It’s not just millennials,” Jeff Berta, senior director of real estate development at Chicago-based Structured Development, tells GlobeSt.com. “Baby boomers are selling their homes and moving into rental housing,” usually clustered around urban cores. “With that comes the need for medical office space that is modern and accessible.”

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Brian J. Rogal

Brian J. Rogal

Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.

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