Senior Housing News August 20, 2024
The cost of building a senior living community is still rising in 2024, but there are some reasons to be optimistic about the road ahead.
That’s according to the latest Senior Living Construction Costs report from Weitz Company.
Constructing a mid-level independent living unit in the summer of 2024 ranges from $237 to $284 per square foot, up from $233 to $280 last year. High-end independent living units are also increasing in cost, with a range of $281 to $360 per unit, up from $272 to $354 last year.
Assisted living units have also seen an increase. Mid-level units currently cost $274 to $349 to construct, up from $269 to $361 per square foot last year. High-level units range from...
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