Aging Population Drives Demand for Senior Housing
Created by kblakeslee on 5/11/2013 10:18:05 AM
VALPARAISO, Ind. (AP) — An aging population has increased demand for senior housing in northwestern Indiana, where a construction boom has occurred since the end of the recession.
Chris McGraw of the National Investment Center for the Seniors Housing and Care Industry tells The Times in Munster that construction of assisted living facilities has returned to pre-recession levels. That construction represented 2.5 percent of the existing senior housing inventory.
But experts say there are still many pockets around the country where demand exceeds supply.
Indiana Housing and Community Development Authority spokeswoman Emily Duncan says 14 of 20 projects that competed for tax credits this year were housing developments serving residents age 55 and older.