“For us, this is something that’s personal. We all have family members who fall into the category,” Andrews said of the emerging middle market segment. As the largest cohort of the aging Baby Boomer generation, middle income seniors – those who do not qualify for federal subsidies but do not have the savings to afford private pay options – need affordable housing options. “Your data shows there’s a huge opportunity nationally,” Andrews said, citing NIC’s 2019 The Forgotten Middle study.
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Leading Through Change
July 13, 2022 at 1:00 PM ET
Tailored to seniors willing to pay for high-end services, Gaston predicted the Ultra-Luxury segment has ample opportunity to prosper in the wealthier United States cities due to low competition. “Barriers to entry, including the cost, the development cycle, the size of the project, and what you’re trying to offer I think will keep a lot of groups out of it,” Gaston said. “It’s just not hospitality, it’s just not real estate, it’s just not operations. It’s really an amalgamation of all three.”
NIC Leadership Huddles reconvene July 13 to discuss leadership strategies and changes in senior living. Hear from Chris Taylor, Cindy Baier, and Kimberly Lody as they explore lessons learned and how they can be applied to the new challenges facing the sector. Register today and watch all past leadership huddles in the NIC Leadership Huddle Archives.