Seniors Living In Today's Economy
Senior living today has been divided between high income residents and lower income residents. But what happens to the residents with middle income, that can’t afford the high-income rent, and make too much to qualify for lower income housing. This introduces the missing middle.
In 2014, out of 20 million seniors over 75, 8 million were middle income. By 2029, out of 33.5 million seniors, 14.4 million will be middle income. Of them, 60% will have limited mobility, 20% will have high needs with at least one chronic condition and one more functional limitation. 8% of those will have some form of cognitive impairment (Senior Housing Business).
Assisted living costs $4,100 a month, all inclusive. Memory care units cost $4,800. Some facilities charge $6,000 a month (Senior Housing Business). How can we design for the missing middle?
What's Being Done Today?
Elevate Clearwater in Clearwater, FL has senior units in eight duplex buildings, with 16 independent living units and 96 assisted living/memory care units. Each part of the “neighborhood” has common spaces like a bistro, cinema, or library. The facility includes no central dining, instead each neighborhood has a tiny restaurant with a kitchen and space to eat. Chefs prepare food that is heated and served by staff, where seniors can order anytime. Each neighborhood has 2Elevate staff and 2 volunteers. The volunteers come from the Family Booster club, where it’s been proven that family members are eager to donate their time. The units here are $1,000 a month cheaper than similar properties, and two-bedroom units are $2,500 a month (Senior Housing Business).
2Life Communities is opening the Opus Newtown Community in Brighton, Massachusetts. Residents will volunteer 10 hours of their time each month once they move in, equivalent to having 55 full-time staff, and host classes and potlucks. In Boston, the monthly market rate is charging up $4,000-$7,000. Opus’s monthly fees range from $2,000 to $5,300. The community will have a common space and commercial kitchen with dining credits for residents (up to $400 of dining). The facility will also provide care navigators, who are nurse practitioners or social workers. They will help with small tasks for half an hour to an hour at$30-$60, compared to in-home care that costs $30-$35 an hour with a minimum of3-4 hours (Senior Housing Business).
VISSI designed a new senior living housing complex in Holland, PA. The church and senior living center wanted to develop a feasibility study for a market rate on independent senior rental townhouses and apartments. These units were restricted to persons typically 55 years of age and older. They offered virtually no services other than some organized activities, recreational facilities, and occasionally a transportation shuttle service. A market analysis was conducted to determine the senior housing rate within the Primary Market Area, within a seven-mile radius of the site, where the townhomes and apartments are located. The analysis considered seniors with an income greater than $75,000 or those with an income of $50,000-$74,999 that owned their own homes. Seniors that lived in developments inside the PMA rented for $1,625 to $2,225 a month.
VISSI's Residential Design
VISSI deigned (9) two-story townhouses in two buildings. The layout for each unit included their own foyer, living area, dining, and kitchen, first floor master bedroom and bath, powder room, laundry closet, and a loft with one or two bedrooms with a possible second bathroom. Each unit was provided with a single car garage. The apartments were designed to be four stories with the first floor containing the parking garages. The second, third, and fourth contain approximately 41 units. The apartments will have their own living and dining spaces, two bedrooms, bathroom, laundry, and storage closets. The residents will have access to a club house that provides a game room and swimming pool. Each resident will also have access to game courts and an amphitheater on site.
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