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Senior Housing Construction Drops

Wed, 10/25/2000 - 12:00am — Karen Stevenson
Description: 

The American Senior Housing Association (ASHA) reports that construction of senior housing properties in 2000 dropped by nearly half over the prior year. They found 591 properties under construction in 1999, but only 320 in 2000. The organization attributes much of the decrease to problems accessing the capital needed to build these properties, as well as some over-building of assisted living in the last few years.

The association estimates there are 20,000 professionally owned and managed senior housing buildings in the U.S. with a capacity of about 2.2 million, and about 10% of them were built in the last four years.

The American Senior Housing Association (ASHA) reports that construction of senior housing properties in 2000 dropped by nearly half over the prior year. They found 591 properties under construction in 1999, but only 320 in 2000. The organization attributes much of the decrease to problems accessing the capital needed to build these properties, as well as some over-building of assisted living in the last few years.

The association estimates there are 20,000 professionally owned and managed senior housing buildings in the U.S. with a capacity of about 2.2 million, and about 10% of them were built in the last four years.