(See also www.CaliforniaSeniorsLLC.com)
A new venture on which we are embarking is the development of Senior Independent Living in Coastal California
Key Facts that make this an attractive investment:
- The senior population is exploding with growth due to longer healthier life and baby boomers reaching “seniorhood”.
- The over 65 population is increasing in the U.S. by about 1.6 million annually and will do so for 20 years. 35% will seek new residences
- This results in a housing market of 300,000 households per year, and 6 million senior residential units over the 20 year period!!
Senior Independent Living Housing:
- Independent living housing means the provision of a variety of housing formats, from detached single-family dwellings to apartment style living, in a housing complex and housing units designed specifically for senior needs.
- Independent living provides social and recreational amenities and services for seniors, eliminating maintenance and repair work, and the limitations that often come from living in typical urban and suburban housing environments.
- Unlike assisted care and nursing homes, independent living housing is for active seniors, many of whom still have careers or part-time businesses, or just want an active lifestyle.
- We are pursuing the development of 60 to 75 units of independent living housing, (with possibly about 10 units of assisted living), in mixed housing types, including stand-alone single family houses, semi-attached duplexes and fourplexes, and apartment style buildings.
- Our target market is aimed primarily at upper middle-income seniors 55 years of age or older.
- All units will be designed for senior occupancy and the overall complex will include a clubhouse, outdoor pool, gardens and open space, along with other recreational amenities.
- Proximity or easy access to shopping and restaurants is a strong location preference.
- All units will be rentals. This is particularly important in the current difficult purchase and sale housing market.
- Coastal California provides a wonderful climate and physical beauty
- Universities and military bases provide an excellent clientele for senior housing
- We are targeting locations in Ventura, Santa Barbara, and San Luis Obispo counties. Our highest preference is south Santa Barbara County.
- We would like to have the first completed project ready for occupancy in about 3 years, in late 2014.
Senior Housing Newsletter:
Watch for our monthly newsletter, Senior Housing Development in Coastal California, describing our progress in making this project a reality.