Examination of Potential for Senior Housing

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Examination of Potential for Senior Housing
Special Needs Housing

• 2005 Statewide Conference on Housing and
  Community Economic Development
• Cultivating Communities Rising to the Challenge
  of a Changing Landscape

September 14, 2005
2380 Science Parkway, Suite 107 Okemos, MI
48864 Phone [phone] www.cr-services.com

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• Discussion Topics
• Special Needs Housing Issues Definitions and
  requirements
• Determining Senior Housing Demand
• Supply of Senior Housing
• Special Needs Housing Market Feasibility

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• Special Needs Housing unique housing for unique
  circumstances
• Defined by
• Age
• By disability status
• By unique conditions

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• Complicating factors for determining market
  feasibility
• Health status vs. eligibility status
• 2)Affordability vs. income requirements
• 3)Support services availability vs. need
• 4)Demographics vs. actual demand

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• Senior Housing Potential based on population
  concentrations at age 60 years and older, as of
  2010.
• Higher degrees of senior population are within
  eastern Indiana (Jay, Blackford, and Grant
  Counties), along with western section (west of
  Lafayette).
• Lower concentrations of future senior population
  are evident within most higher income suburban
  areas, core urban neighborhoods, and communities
  with higher education facilities.

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• Senior Housing Potential based on population
  concentrations age 60 years and older, as of
  2010.
• Indianapolis mixed in terms of senior density,
  with areas west of Meridian and south of I-70
  featuring higher senior citizen concentrations.
  Balance exhibits normal to lower concentrations.
  
• Southern sections are generally younger, with the
  exception of western Indiana.

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• Senior Housing potential based on the change in
  senior population between 2000 and 2010,
  according to Claritas projections.
• High senior growth areas are generally within
  suburban areas and higher-income communities.
• Limited growth and projected declines evident
  within primarily rural areas, large and small
  urban areas, and regions with lower than average
  economic activity.

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• Senior Housing Potential Based on the change in
  senior population between 2000 and 2010,
  according to Claritas projections.
• Indianapolis features a number of areas with
  projected senior population declines.
• Terra Haute also projected to experience
  senior population losses
• Anderson, Muncie, Richmond, and most other small
  to moderate-size communities are also projected
  to experience declines
• Exceptions to this pattern include some smaller
  cities within strong growth areas

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• Senior Housing Potential based on the change in
  senior population between 2000 and 2010,
  according to Claritas projections.
• Vincennes, Evansville, Jasper, and Scottsburg
  are all anticipated to decline in senior
  population by 2010.
• Nearly all suburban and higher-growth rural
  areas will benefit from strong senior population
  growth.

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• Supply issues and senior housing
• Saturation of most markets
• 2)Importance of amenities, location, and project
  features
• 3)Available market niches matching project
  characteristics to the market
• 4)Long-term potential

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Concentration of Persons With Disability
Northern Indiana
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Location of Service Providers Northern Indiana
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Concentration of Persons With Disability
Central Indiana
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Location of Service Providers Central Indiana
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Concentration of Persons With Disability
Southern Indiana
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Location of Service Providers Southern Indiana
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• Special Needs housing in Indiana
• With the exception of senior housing,
  opportunities are limited in many areas
• 2)Potential need does not match existing options
• 3)Importance of service organizations

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Examination of Potential for Senior Housing
Special Needs Housing

• For more information, contact Kelly Murdock
• kmurdock_at_cr-services.com.

2380 Science Parkway, Suite 107 Okemos, MI
48864 Phone [phone] www.cr-services.com