Senior housing deals aren't penciling for our group. Curious how others are making the numbers work. Labor and Construction Cost Inflation has far exceeded senior housing rents plus these projects employ 90+ workers so the OPEX is growing substantially. Assisted living and memory care units are in high demand but the independent living units are staying vacant.
Did COVID scare or kill the would-be IL renters?
Will Housing inflation lead to more multigeneration households or is demand for senior housing coming back soon?
I don’t think Covid killed IL. Do you target the full country or are you just seeing it in a few markets? Covid may have slown absorption down. I think it’ll eventually come back - when though is anyone’s guess. The only reason I think it’ll come back is because people generally like to be social. As you age - IL living, especially in communities that let you move to AL, let you get the help you may need as you age.
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