Senior Adults To Outnumber Children Under 18 By 2034. What This Means For Florida Development

Happy and affectionate elderly couple looking at camera

More and more senior housing projects — built to resemble luxury multifamily communities with an increased emphasis on amenities — are popping up across the country as developers prepare for a population phenomenon that has never occurred in U.S. history: Adults over 65 will outnumber children under the age of 18 by the year 2035.

Florida, a long-popular destination for snowbirds and retirees, has the highest number of senior adult residents in the nation and more are arriving everyday. That’s a major reason why the Sunshine State leads the nation in senior housing construction projects, Debee says.

Currently, there are 74 senior housing communities totaling 9,134 units under construction in Florida, according to data provided by BBG Real Estate.

Miami leads the way with 19 senior housing communities under construction totaling 2,944 Units. The Orlando metro area has eight under construction totaling 842 units. Four of these projects are in Orange County, two are in Seminole and one is underway in Lake County.

The surge in senior housing — and new construction trends for the projects — was the subject of a presentation this week at the National Association of Real Estate Editors (NAREE) conference in Las Vegas.

“Ten-thousand people are turning 65 everyday, and will continue to do so for the next seven to eight years,” said James Hill, the associate vice president of Houston-based Kirksey Architecture. “And by that time they will have surpassed the total number of people who are 18 or younger for the first time in the history of the world.”

The amenities offered at newer senior living communities, whether it be an active living facility or independent living facility, are in place to not only to attract potential residents, but also their sons, daughters and grandchildren who will be visiting. In fact, these facilities are being marketed to the adult child.

Amenities often include trails, outdoor recreation space, pickleball courts, outdoor grilling areas, restaurants, cafes, putting greens and more.

Source: GrowthSpotter

June 21, 2023/by ADMIN

Recent Posts

Site Work Underway For Lee Health’s New $434M Hospital In Fort MyersOctober 30, 2024 - 9:55 am
A key component is a musculoskeletal institute connected to the hospital on Challenger Boulevard that could become a destination center attracting patients from outside the region.
Legacy Arranges Sale Of Medical Retail Center In Winter HavenOctober 28, 2024 - 1:43 pm
The 36,637-square-foot property sold for $10.3 million.
NIcklaus Children’s Hospital Opens Griffin Surgical Tower In MiamiOctober 24, 2024 - 7:35 pm
The state-of-the-art facility spans 131,000 square feet.
Baptist Medical Center Applies For Permit To Build MOB In Seven PinesOctober 16, 2024 - 1:22 pm
The city issued a site-clearing permit Oct. 2 for the 10.52-acre property at southeast Butler and I-295.
Robins & Morton Completes Tallahassee Memorial HealthCare Medical Office Building In Panama City BeachOctober 15, 2024 - 7:09 pm
The campus will include opportunities for FSU researchers focused on aging and digital health, as well as residency programs and clinical rotations for FSU medical students.
Miami-Dade-Based Healthcare Company Sells Broward Buildings For $12MOctober 7, 2024 - 3:38 pm
As part of the agreement, ChenMed will lease all three buildings for 20 years, with the leases set to expire in September 2044. Additionally, the leases include two options to extend for seven years each.
Prudent Growth Purchases Winter Haven Medical VillageOctober 3, 2024 - 1:49 pm
PGP paid $10.3 million for the multi-tenant medical retail center.
Baptist Health South Florida Breaks Ground On Women’s Cancer Center In MiamiOctober 1, 2024 - 11:07 am
As the first center of its kind in the region, it reflects a commitment to meet the needs of women, who currently make up 65 percent of Miami Cancer Institute’s patients.
Florida Coast Medical Center One Year To Anticipated Opening Day Amid Population Boom In Port St. LucieSeptember 25, 2024 - 1:31 pm
The facility will offer specialized services including 24-hour emergency care, neurosciences, orthopedics, spine, robotics, general surgery, urology, advanced cardiac care and diagnostic services.
Baptist Health Plans To Open Its First Hospital In Broward CountySeptember 24, 2024 - 11:55 am
The City Commission will consider both the site plan and the special exception to allow a hospital on Sept. 24.
Lions World Vision Institute Unveils Vision Health Center To Transform Community Eye Care In Tampa BaySeptember 19, 2024 - 5:24 pm
This state-of-the-art facility, with 20,000 square feet of clinical and community space located in Ybor City, is expected to open in 2026 and will serve as a hub for top-tier vision care.
AdventHealth Begins Construction On Hospital Expansion In Wesley ChapelSeptember 17, 2024 - 3:09 pm
In total, the project will add 80,373 square feet of new space and renovate 8,837 square feet of existing space.
Chicago Investor Buys South Florida Assisted Living Facility For $64MSeptember 12, 2024 - 5:37 pm
The 366,036-square-foot property houses 377 units.
Hospital District Finalizes Lease For Vero Medical Education CampusSeptember 11, 2024 - 7:15 pm
Under the lease, which starts on October 1, VCOM must establish a campus for third- and fourth-year medical students by 2026 and a fully accredited four-year medical school by 2027. Additionally, a residency program at Cleveland Clinic Indian River Hospital must be operational by 2030.
Orlando Health’s Sebastian Hospital Bid A ‘Go’ For NowSeptember 4, 2024 - 6:24 pm
The reason MPT agreed to let the Orlando Health stand as the “stalking horse bid” is that the parties have until October to settle on a final allocation of hospital assets – meaning that the successful bidder, Steward and MPT must sit down after the Sept. 10 auction to work out the division of the proceeds.
McKesson To Buy Controlling Interest In Florida Cancer Specialists’ Core VenturesSeptember 2, 2024 - 2:48 pm
The $2.49 billion cash purchase will give McKesson about 70% ownership of Community Oncology Revitalization Enterprise Ventures, LLC (Core Ventures).
South American Investment Firm Acquires University Medical Center In TamaracAugust 28, 2024 - 9:57 am
The medical center was 100% occupied at the time of the sale.
Plans In Review For Medical Office Building In Seven Pines Master-Planned CommunityAugust 27, 2024 - 2:36 pm
The 50,000-square-foot facility is on 3.53 acres on Stillwood Pines Boulevard, east of Resolution Drive and south of Butler Boulevard in Jacksonville.