As many as 10,000 people are turning 65 years old every day, meaning every single Baby Boomer will be over 65 by 2030. As a result, communities like ours will need to expand their services to meet the growing population of seniors looking for our care and support.
In many cases, the only way to meet these demands is to expand our communities or develop new ones from scratch. Depending on how you’d like to approach the project, you could build your new community from the ground up or look for properties you can renovate into an experience your residents will love.
If you’re thinking about following the latter of these 2 processes, then there are a few things you should look for before you finally decide to move forward with your next community. Fortunately, you don’t have to do this alone.
Distinctive Living has made a name for itself by providing senior care providers with the resources they need to create fully comprehensive and competitive senior living experiences. If you’re considering expanding your services to include multiple communities, contact us today to see how our team can help make your dreams a reality.
Know What Type of Community You Want to Build
The first thing you should consider before you start the development process is to determine what types of lifestyles you’d like to support. Many communities offer multiple lifestyle options, but if you’re looking to purchase a property and renovate it, you’ll need to consider how it can support the lifestyles you want.
Some of the most common features should include:
- Ample living quarters and housing choices
- Sizeable dining and cooking areas
- Rooms for lounging, socializing, and activities
- Private staff areas
- Alarms and emergency exits
People also change over time, so keep in mind that your community will naturally need to adapt depending on your residents’ interests.
Still, each lifestyle has its unique requirements. Take a look below at some of the features your community should offer depending on what type of lifestyle you’d like to support.
- State-of-the-art recreational facilities
- Easy-to-access transportation
- Visiting areas
- Options to live alone or with a roommate
- Wheelchair and low-mobility accessible areas
- Large, easily accessible bathrooms
- A place for medical help, like a physician’s office or a pharmacy
- Access to emergency services
Memory support lifestyles offer a far more comprehensive experience for seniors who struggle with cognitive impairments related to dementia, Alzheimer’s, and Parkinson’s disease. As such, these communities should feature:
- On-site medical areas
- Quarters for 24-hour staff
- Easily navigable suites and common rooms
- Secure courtyards safe for wandering
Staying Ahead of the Competition
Next, you’ll need to consider how your community will remain competitive in what experts believe will be an exploding industry. Over 73 million Baby Boomers, the wealthiest generation in the United States, will retire in the next 10 years, and they’ll be looking for “experiences” just as much as quality care.
If you want your community to remain competitive amongst a sea of senior living communities, you’ll need to keep a few things in mind.
Location, Location, Location
Recent trends in senior living spaces suggest that modern retirees aren’t as interested in suburban or rural locations because of the feeling of isolation they might experience. Instead, more and more seniors are looking for more urban options closer to exciting recreational hubs that they can enjoy with family and friends.
Provide Luxurious Experiences
Since the Baby Boomer generation is the wealthiest on Earth, they will likely look for luxurious experiences to enjoy their retirement years rather than simple care and support.
According to the Washington Journal, high-end senior living communities generally feature:
- In-house restaurants
- Wellness spas
- Customizable lifestyle plans
- Larger suites and homes
Keep Growth in Mind
We’re only seeing the first waves of the affectionately named “Gray Tsunami,” so it’s important to remember that occupancy rates will likely grow over the next 10 years.
In 2021, senior living communities had a 78% occupancy rate, but today they now sit at 81%, and the numbers keep climbing. As more and more people become interested in senior living experiences, communities will need to stay open to opportunities for expansion to keep up with their residents’ daily needs.
You Have Development Questions. We Have Answers.
The senior living community will undoubtedly experience even more shifts as we learn about resident trends over the coming years. It’s essential to have a team with a finger on the pulse of what’s new and emerging in our industry.
We know this can be hard to do when managing a community on your own, but our team is here to support your journey and help you provide the best experience possible for your residents and staff. If you’re interested in learning more about Distinctive Living and our services, please contact us today.