Senior Housing News July 24, 2024
It’s no secret that senior living construction starts are down, and the length of time it takes for a project to open is up. But as the challenges starting new construction projects linger, the likelihood of a future shortage of senior housing inventory grows.
That’s according to a new blog post from the National Investment Center for Seniors Housing & Care (NIC) and NIC MAP Vision.
Preliminary NIC MAP data shows there were only about 1,300 senior living construction starts in the second quarter of 2024 – a number that is likely to be the lowest level of new construction starts since even before the 2008 financial crisis. When all is said and done this year, the industry is on...
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