Senior Living Development, Construction Show Signs of Life — But High Costs Stymie Projects

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Once awash in a torrent of development activity, the senior living industry saw construction starts plummet last year. Now, there are signs that activity is resuming, but high material prices and other factors are complicating the outlook on how quickly senior housing development activity will ramp back up.

In the first quarter of 2021, independent living construction starts were at low levels not seen since 2012; assisted living construction starts are also lower now than in recent years, according to recent data from the National Investment Center for Seniors Housing & Care (NIC).

A small number of trends fueled by Covid-19 are largely to blame for that slowdown, according to NIC Chief Economist Beth Mace.

The post Senior Living Development, Construction Show Signs of Life — But High Costs Stymie Projects appeared first on Senior Housing News.

Source: For the full article please visit Senior Housing News