Hello and welcome to Brick by Brick, where we're highlighting solutions for a thriving community in Southwest Ohio.
And by 2040, the number of households headed by a person 80 and over will have more than doubled.
That's a problem because not all housing works for those who want to stay in their home, and senior housing developers are not building enough housing to keep up.
You need more senior housing like this, but then we don't need a whole lot of massive apartment buildings all over Cincinnati either.
Kim Terrell disagrees and says based on need, a lot more senior housing does need to be built.
We have another building called Marlow Court, and I believe it's four stories.
It's rather big, and it's in 2017, I believe it was.
For it, they had people sign up.
Well, they only had about 50 to 60 apartments, and over a thousand people applied.
SENIOR HOUSING DEVELOPMENT IS FALLING SO FAR BEHIND DEMAND THAT THE INDUSTRY WOULD NEED TO INCREASE CONSTRUCTION ROUGHLY TEN-FOLD OVER THE NEXT DECADE TO MAINTAIN NATIONAL OCCUPANCY AT 90%.
THAT'S ACCORDING TO MEDIA COMPANY GLOBE STREET THAT PROVIDES NEWS AND ANALYSIS TO THE COMMERCIAL REAL ESTATE INDUSTRY.
IT BLAMES ELEVATED INTEREST RATES, HIGHER CONSTRUCTION COSTS, LABOR CONSTRAINTS AND OPERATING MARGINS THAT ARE BELOW PRE-PANDEMIC LEVELS.
More than two-fifths of senior housing units are more than 25 years old and may need to be rehabbed.
She had to move and wanted to live at the downtown Cincinnati YMCA, but it was being renovated and would be more than a year before it was finished.
An apartment in Walnut Hills bought her time since both are run by the same people.
I said, well, does that mean I can rent this place for a year and then move over there? She goes, yep.
I said, then let's make that a plan.
Hello and welcome to Brick by Brick, where we're highlighting solutions for a thriving community in Southwest Ohio.
And by 2040, the number of households headed by a person 80 and over will have more than doubled.
That's a problem because not all housing works for those who want to stay in their home, and senior housing developers are not building enough housing to keep up.
You need more senior housing like this, but then we don't need a whole lot of massive apartment buildings all over Cincinnati either.
Kim Terrell disagrees and says based on need, a lot more senior housing does need to be built.
We have another building called Marlow Court, and I believe it's four stories.
It's rather big, and it's in 2017, I believe it was.
For it, they had people sign up.
Well, they only had about 50 to 60 apartments, and over a thousand people applied.
SENIOR HOUSING DEVELOPMENT IS FALLING SO FAR BEHIND DEMAND THAT THE INDUSTRY WOULD NEED TO INCREASE CONSTRUCTION ROUGHLY TEN-FOLD OVER THE NEXT DECADE TO MAINTAIN NATIONAL OCCUPANCY AT 90%.
THAT'S ACCORDING TO MEDIA COMPANY GLOBE STREET THAT PROVIDES NEWS AND ANALYSIS TO THE COMMERCIAL REAL ESTATE INDUSTRY.
IT BLAMES ELEVATED INTEREST RATES, HIGHER CONSTRUCTION COSTS, LABOR CONSTRAINTS AND OPERATING MARGINS THAT ARE BELOW PRE-PANDEMIC LEVELS.
More than two-fifths of senior housing units are more than 25 years old and may need to be rehabbed.
She had to move and wanted to live at the downtown Cincinnati YMCA, but it was being renovated and would be more than a year before it was finished.
An apartment in Walnut Hills bought her time since both are run by the same people.
I said, well, does that mean I can rent this place for a year and then move over there? She goes, yep.
I said, then let's make that a plan.
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