Future of senior housing maturing at a fast rate.The senior housing market in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. has matured considerably over the past year. Seniors are choosing the bright lights of Broadway over the sun-kissed beaches of the south, and are entering the market en masse en masse adv. In one group or body; all together: The protesters marched en masse to the capitol. [French : en, in + masse, mass. . Active and vital, these seniors are looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. alternatives to traditional nursing homes. As a result, the development of assisted-living communities for independent, older New Yorkers has become one of the hottest trends in residential housing. Demographics indicate that this trend will continue to be strong through 1998 and beyond. This can be attributed, in part, to the simple fact that people are living longer, healthier lives. According to the U.S. Bureau of Census Bureau of Census A division of the federal government of the United States Bureau of Commerce that is responsible for conducting the national census at least once every 10 years, in which the population of the United States is counted. , the over-50 population has become the fastest growing demographic in the country. Through 2005, the number of seniors over 65 is expected to increase by 3 million. All of this bodes well for the senior housing market. This increase wouldn't have much impact on New York's housing market if seniors continued to migrate to the Sun Belt. But many retirees are choosing to stay in the Big Apple instead, and still others have moved to Florida, but later returned to the City to be closer to family and friends. Seniors are rediscovering New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of in light of a strong economy and a lower crime rate. Statistics support this trend: for every one senior who flocks to Florida, 19 stay in New York City. These factors have supported the development of assisted-living complexes. This new generation of senior housing is a departure from traditional nursing homes: built to reflect a residential - not institutional - model, these communities are more homelike, thus respect the wants and needs of today's active seniors. Residents retain their independence, while getting help with meals and day-to-day activities. Until now, many older New Yorkers who needed some help with daily care had no choice but total-care nursing homes. And when there was a shortage of beds, those with greater needs took precedence over the intermediate care patients. Assisted-living communities fill this niche, providing an option to life care or continuing care continuing care a professional convention that a veterinarian who is treating an animal is obliged to continue treating that case unless an arrangement is made with its custodian to transfer the care to another practitioner or to a specialist. homes. Levine Builders has been part of this first wave of development. Along with Kapson Senior Quarters, we broke ground on two assisted-living complexes in New York City this past year. 1998 will usher in the opening of a 143-unit complex in Kew Gardens, Queens Kew Gardens is a neighborhood in central Queens bounded to the north and east by the Jackie Robinson Parkway (formerly Interborough Parkway), the Van Wyck Expressway, and Queens Boulevard, also to the east by 127th Street, to the south by 85th Avenue, and to the west by Babbage . Another, a 206-unit complex in the Riverdale section of The Bronx, is slated for occupancy in 1999. Both complexes reflect the new assisted-living model: apartment living with hotel-style services. The residents will be served three meals in a dining room, housekeeping services will be provided, and social activities will be arranged. Additional amenities include an in-house beauty parlor, a billiard bil·liard adj. Of, relating to, or used in billiards. n. See carom. Adj. 1. billiard - of or relating to billiards; "a billiard ball"; "a billiard cue"; "a billiard table" room, a library, and an arts and crafts arts and crafts, term for that general field of applied design in which hand fabrication is dominant. The term was coined in England in the late 19th cent. as a label for the then-current movement directed toward the revivifying of the decorative arts. room. As the population continues to mature, so will the senior housing market. Record numbers of baby boomers will flood the market as they reach retirement age. Independent and energetic, older New Yorkers will continue to choose to be in the thick of the action instead of migrating to sunny southern shores. Thus, the demand for assisted-living senior housing will be strong through the next millennium. (Jeffrey E. Levine was named the 1997 Freddie Mac Freddie Mac: see Federal Home Loan Mortgage Corporation. Builder of the Year in recognition of his construction and management of affordable, high-quality multi-family housing. He was also named Ernest & Young's Construction and Real Estate Regional Entrepreneur of 1997, and 1997 Developer of the Year by the Associated Builders and Owners of Greater New York, Inc. Since 1979, Levine Builders has designed and completed more than 2,000 new and rehabilitated residential units and more than a million square feet of commercial properties.) |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion