Senior Housing News August 30, 2024
With new construction starts near record lows due to the state of capital markets and the cost of materials, senior housing operators – including Atria Senior Living and Presbyterian Homes and Services – are being strategic about how to renovate, reposition and expand.
Along with these struggles related to costs, cities and municipalities have been showing more pushback to senior housing projects, resulting in longer development timelines.
When Presbyterian Homes and Services has proposed new projects over the last two years, no city officials have initially responded with enthusiasm to the notion of more high-density housing, according to Jon Fletcher, senior vice president with Senior Housing Partners, the development arm of Presbyterian Homes and Services.
“Not to say that was...
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