The need for senior housing grows more pressing with each passing year, according to Affordable Housing Finance's Donna Kimura.
By 2030, more than 70 million Americans will be 65 or older, twice the number in 2000, according to the Census Bureau. The coming “gray wave” will surely increase the need for affordable seniors housing.
But some developers around the country are working to fill this void. Kimura profiles one such project--a 40-unit deal in Greensburg, Ind.
To develop Historic Greensburg Square Apartments, developers Flaherty & Collins Properties and Thrive Alliance renewed four derelict buildings in the city’s courthouse square. The move is adding vitality to the heart of downtown and providing valuable housing.
“Having a community of seniors living in their historic downtown provides a perfect environment and support system for this population to age in place together,” says Duane Miller. “As one of the veterans told a group of us at the open house, ‘Now I can call this place home.’”