ORANGE COUNTY, CA—While the younger Baby Boomers haven't yet entered the senior-housing market, older Boomers are beginning to change it, particularly given their numbers and aggregate wealth, experts tell GlobeSt.com. In our continuing discussion with senior-housing executives, we spoke with Alan Ursillo, SVP of JLL; Kasey Burke, president of Meta Housing Corp.; Al Rabil, CEO of Kanye Anderson Real Estate Advisors; Dan Prosky, founding principal of American Healthcare Investors and the president and CEO of Griffin-American Healthcare REIT II; and Chuck Harry, managing director and director of research and analytics for NIC, about how they feel the Baby-Boomer generation is influencing senior housing.

GlobeSt.com: Economic drivers show Baby Boomers are responsible for 80% of the aggregated wealth in America. What does this mean for the senior-living population as this generation enters senior-living communities?

Ursillo: I believe the future for senior housing is very strong. The Baby Boomers coming on line will demand quality, active communities that will provide safety, excellent care, activities that address their lifestyle, communities in close proximity to their families, shopping and medical facilities. Today's seniors can afford to pay for these services and activities, thus creating substantial wealth for the senior-housing industry.

Harry: Current statistics are showing not a whole lot of differential in terms of entry age between independent and assisted living. Whereas a lot of independent-living communities may be targeting a younger demographic, many in the population have been deferring that decision to relocate. Statistics available show a later age of entry into assisted as well as independent living. More of a recent phenomenon, which may be a cyclical change as a result of the recession, is that many residents are dependent on selling their homes in order to take the proceeds and move into senior housing. When the housing market slowed down, so did the decision to move into the communities. Now that the economy seems to be on more solid footing, and the housing markets are strengthening, the thought is there's more velocity in the home-sales market and more people will elect to put their homes on the market to sell and relocate into senior communities.

The average age of entry into independent living may drop over the next several years and back toward that 70s demographic. Likewise, as Baby Boomers are currently the adult children of most residents in senior communities, this is increasing the awareness of and attractiveness of senior housing and more may elect to move in earlier on. Many of these people are regarded as planners—planning for their future—which is another distinguishing factor of senior housing.

Rabil: Baby Boomers are living longer, and the wealth they have will lead to more optionality. That's the evolution you will see in the senior housing space.

Prosky: It's interesting because seniors have a tremendous amount of wealth, but Baby Boomers in particular haven't seen as much of it—although they may inherit it. When you combine this money with the potential demand of this demographic—there is a huge tidal wave of people entering their 60s, 70s and then 80s—you will see a tremendous increase in demand for senior housing.

Burke: As the Baby Boomer generation transitions into the senior-living population, this group will have the ability to pick and choose the amenities they want. As a result, today's developers need to be anticipating the needs and wants of the Baby Boomers. At Meta Housing, for example, we have introduced a series of senior arts colonies, each of which delivers a fully arts-focused lifestyle to our residents. Through these new artistic communities, we provide seniors the chance to participate in free, professional-level arts activities on an ongoing basis. These communities are appealing to Baby Boomers and seniors who are seeking an opportunity to thrive as they continue to enjoy any years of health.