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Converting office buildings and historic school buildings into vibrant senior living communities
McKnight’s Senior Living December 9, 2024
In urban areas across the globe, underperforming office buildings stand as silent witnesses to shifting economic dynamics and changing demographic trends. Once bustling centers of commerce, those structures now await their next life, presenting a unique opportunity for transformation. As the population ages and preferences for urban living evolve, repurposing these underused assets into vibrant senior living communities emerges as a compelling solution.
According to global real estate services company Jones Lang LaSalle, or JLL, more than 20% of office space nationwide is vacant, and some cities are experiencing even higher rates. Denver, for example, recently hit an office vacancy rate of nearly 32%. There is a pressing need for innovative solutions. Simultaneously, the United States is grappling with a...
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