By Brandon Hair, Executive Director of Springmoor
I am always curious to explore current trends in senior housing and analyze how they may relate to life at Springmoor. The trends for the current year vary greatly from those in years past. They represent “thinking outside of the box,” and I find them intriguing. Below I’ve highlighted a few that particularly interested me and that I believe members of the Springmoor community can relate to.
The first predicted trend is that assisted living will overtake independent living as the most prevalent senior care option in 2024. Assisted living has seen a considerable rise since the end of the pandemic. The data suggests many older adults are staying in their homes longer and moving into a stand-alone assisted living community once there is more of an urgent need—instead of properly preplanning for their future as Springmoor residents have done by moving into a continuing care retirement community (CCRC).
As we all know, stand-alone assisted living residences and independent living residents are abundant. CCRCs such as Springmoor offer a completely different lifestyle with all levels of care, and they are not on every corner. I believe more assisted living is needed at Springmoor, and this is one of the main reasons we are creating dedicated assisted living.
I recognized this need before we began our current construction work and was more adamant about creating separate assisted living residences than any other aspect of our renovation. In addition to the assisted living section we are creating, we could have more beds licensed as assisted living, rather than skilled nursing, if needed. We will evaluate this once we have completed our renovation project and review where the needs of our residents are at that time.
One trend we’ve seen for the past few years is continued increases in occupancy within all levels of care. This year seems no different.
The oldest baby boomers are turning 80 by next year, which will create even more demand for senior housing. In a recent poll, more than 50% of baby boomers said they were strongly considering moving to a senior living community within the next four to five years.
Again, this is all positive data for the retirement sector. High demand helps keep communities like Springmoor vibrant and financially stable. A younger clientele will, however, result in many changes within the sector.
Experts predict that completely different models of senior housing will be extremely popular moving forward. The first is a luxury senior living model. Although this has been popular for many years, luxury will reach a new level as many baby boomers retire with very high incomes.
Of course, providing quality services and excellent care are now always expected. In addition, these boomers will expect many more amenities beyond fancy chandeliers, fine dining, and upscale residences. They will demand more of the world-class resort feel and amenities that many of the country’s top hotels and vacation destinations provide, and this represents a major departure from the past expectations of prospective residents. Many are willing to pay $10,000 or more per month for this independent living lifestyle.
Another trend is more of a “one-size-fits-all” through active adult housing for people 55 and older. This group wants a more laidback lifestyle, rather than an upscale, luxurious one.
Some of you may have heard about Disney World’s concept called Storyliving; their second location will be built in the Raleigh area. This new development will have a dedicated 55 and over space, including all the fun and festive amenities you would have access to at a theme park such as Disney World.
You may also be aware of a Margaritaville-inspired type of retirement community created by Jimmy Buffett. These communities continue to add new locations and increase in popularity.
This concept seems more attractive to middle-market residents and can be compared to the experience of residing in a small town. Older adults live in units with no extra amenities rather than those akin to a fancy resort. These communities provide easy access to conveniences such as grocery stores, pharmacies, and health care.
It will be interesting to see if these trends continue in the years to come or if they will be a fad within the retirement living sector. I am very confident regarding Springmoor and the services and care we provide.
As I’ve mentioned before, I believe our niche is offering a homey atmosphere surrounded by wonderful residents and staff. The members of our community enjoy the unique Springmoor lifestyle, which I feel is timeless. This is why we have been so successful and have remained one of the most sought-after retirement living communities for 40 years.
Would you like to learn more about Springmoor?
Springmoor is a nonprofit Continuing Care Retirement Community offering seniors a variety of residence options that range from apartments to larger villas and homes. If you’re looking for an active senior living community in Raleigh, call us at 919-848-7080 with your questions.
You can also click here to fill out a short online form to receive a free packet of information or schedule an appointment for a personalized tour. Our friendly team looks forward to meeting you soon!