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Most seniors aren’t moving into senior living for the simple reason that they can’t find a property that both meets their care needs and serve the amenities and lifestyle they want. While there is demand for senior living—and a growing demographic—the current supply isn’t matching that demand.

“The old saying “know your audience” or target market takes on great weight, with many layers, when you’re setting out to deliver living spaces and lifestyle communities to such a dynamic generation as this one,” Francine Wallace, VP of 55-plus operations at Pardee Homes, tells GlobeSt.com. “According to research from John Burns Real Estate Consulting, 53% of buyers who are between 55 and 65 years of age cannot find the kind of compelling and vital community they desire.”

This puts more pressure on seniors housing owners and operators to know the demographic and create communities that fulfill the current demand. “It’s no secret that this generation of homebuyers is a lot more active than previous generations,” Wallace. “They want to hike and bike, go to shows and have fun, not stay home and play bridge like their parents did when they retired. Boomers have also seen and experienced a lot in their adult years, so their tastes are refined. They don’t want to be stuck with standard; they desire a community that raises the standards.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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