The seniors housing construction starts "are grinding to nearly a complete stop," Charles Bissell, Managing Director, JLL Capital Markets, tells GlobeSt.com. Yet at the same time, "demand is on the precipice of a 20+ year spike due to the aging of the baby boomer generation."
For Q3 of 2022, NIC MAP Data Service reports construction starts for seniors housing in the markets tracked by NIC were only 2,412 units, down from as high as 12,000+ units in Q4 of 2017.
Starts have declined in each of the most-recent three quarters – a trend Bissell said is expected to continue for the fourth quarter, and on into 2023.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
