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LOS ANGELES—Building and operating middle-income senior housing is “the next great challenge” of the real estate industry, according to a panel on the topic at the 3rd Annual Interface Seniors Housing Midwest. Soo Im, the director of design at KTGY Architecture and Planning and a speaker on the panel, says that tackling the issue means creating an affordable project that also provides amenities and services for seniors. She believes that redevelopment projects will provide the best way to affordably develop these opportunities.
“With the high percentage of one bedroom and studio units in senior living housing, there are some very attractive opportunities for repurposing buildings like hotels, offices, and hospitals for active adult rental and Assisted Living and Memory Care communities,” Im tells GlobeSt.com. “We are currently working on one of each. The biggest challenge for repurposing existing buildings is the building dimensions and the structure, whether they can provide efficient spacing and sufficient outdoor and daylight opportunities for the new program. Older buildings in locations that provide the shopping and entertainment amenities for residents are a great plus.”
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