Senior Housing and Workforce Housing: Made for Each Other!
Senior housing and workforce housing are big opportunities today in multifamily real estate. Analysts project that senior-housing demand will be sustained for a long time, powered by baby-boomers, who make up approximately 22% of the U.S. population—an estimated 73 million people born between 1946 and 1964. Workforce housing is also in demand, as elevated home prices and interest rates have made home ownership unaffordable for many people who have been forced to remain in the rental market.
Developing workforce housing along with senior housing makes sense because both workers and seniors need affordable units. This presents an attractive development opportunity. Under Connecticut Statute 8-30g, local Planning & Zoning boards cannot deny developers approval for projects where 30% of the units are deed restricted affordable units. Workforce and senior housing also makes sense because there are workers who provide services to seniors, such as home care and house cleaning.
If you are interested in an 8-30g development, please contact us for the full details. We have solid 8-30g experience and can show you properties that would qualify.
Lyman Real Estate Brokerage and Development has been active in eastern Connecticut commercial real estate for more than 30 years. If you’re interested in selling, buying, or leasing commercial property for any reason, please call, text, or email us today.