Industry Trends

Senior Living Projects Shift Focus

Construction has been ramping up despite rising materials and labor costs and supply chain delays, and the Senior Living industry is no exception. However, the focus has shifted away from new development.

The types of Senior Living capital projects being undertaken in 2022 and 2023 may look different than in previous years. During our time at the 2022 Leading Age PA Annual Conference in Hershey, PA, we saw that although the Senior Living sector continues to thrive in the post-pandemic world, increased in awareness resulting from the pandemic is causing some to be cautious about new development.

Some of the future trends to look for in the senior living industry include:

  1. Overall, the Senior Living industry remains bullish about the long-term future of its place in our nation’s support system.
  2. Designers are busy developing schemes and systems to ensure sustainable communities will remain useful as more Americans reach longer-range milestones in their lives.
  3. In order to overcome the public perception about wellness concerns, many operators have changed their focus from expansion to undertaking capital improvements to their existing facilities. These improvements are exploring new ways to ensure the healthiest environments.
  4. Consolidation is on the rise as Senior Living service providers seek to gain operating efficiencies to remain competitive despite rising operating costs.

If you are planning a Senior Living project — or are in the midst of one and have questions — reach out to us through the form linked below.

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