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Examination of Potential for Senior Housing & Special Needs Housing

Examination of Potential for Senior Housing & Special Needs Housing. 2005 Statewide Conference on Housing and Community Economic Development “Cultivating Communities: Rising to the Challenge of a Changing Landscape”. September 14, 2005.

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Examination of Potential for Senior Housing & Special Needs Housing

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  1. Examination of Potential for Senior Housing & Special Needs Housing 2005 Statewide Conference on Housing and Community Economic Development “Cultivating Communities: Rising to the Challenge of a Changing Landscape” September 14, 2005 2380 Science Parkway, Suite 107 ■ Okemos, MI 48864 ■ Phone (517) 827-6411 www.cr-services.com

  2. Discussion Topics: • Special Needs Housing Issues – Definitions and requirements • Determining Senior Housing Demand • Supply of Senior Housing • Special Needs Housing & Market Feasibility

  3. Special Needs Housing – unique housing for unique circumstances • Defined by: • Age • By disability status • By unique conditions

  4. Complicating factors for determining market feasibility: • Health status vs. eligibility status • 2)Affordability vs. income requirements • 3)Support services – availability vs. need • 4)Demographics vs. actual demand

  5. Senior Housing Potential – based on population concentrations at age 60 years and older, as of 2010. • Higher degrees of senior population are within eastern Indiana (Jay, Blackford, and Grant Counties), along with western section (west of Lafayette). • Lower concentrations of future senior population are evident within most higher income suburban areas, core urban neighborhoods, and communities with higher education facilities.

  6. Senior Housing Potential – based on population concentrations age 60 years and older, as of 2010. • Indianapolis – mixed in terms of senior density, with areas west of Meridian and south of I-70 featuring higher senior citizen concentrations. Balance exhibits normal to lower concentrations. • Southern sections are generally younger, with the exception of western Indiana.

  7. Senior Housing potential– based on the change in senior population between 2000 and 2010, according to Claritas projections. • High senior growth areas are generally within suburban areas and higher-income communities. • Limited growth and projected declines evident within primarily rural areas, large and small urban areas, and regions with lower than average economic activity.

  8. Senior Housing Potential– Based on the change in senior population between 2000 and 2010, according to Claritas projections. • Indianapolis features a number of areas with projected senior population declines. • Terra Haute – also projected to experience senior population losses • Anderson, Muncie, Richmond, and most other small to moderate-size communities are also projected to experience declines • Exceptions to this pattern include some smaller cities within strong growth areas

  9. Senior Housing Potential– based on the change in senior population between 2000 and 2010, according to Claritas projections. • Vincennes, Evansville, Jasper, and Scottsburg are all anticipated to decline in senior population by 2010. • Nearly all suburban and higher-growth rural areas will benefit from strong senior population growth.

  10. Supply issues and senior housing: • Saturation of most markets • 2)Importance of amenities, location, and project features • 3)Available market niches & matching project characteristics to the market • 4)Long-term potential

  11. Concentration of Persons With Disability: Northern Indiana

  12. Location of Service Providers: Northern Indiana

  13. Concentration of Persons With Disability: Central Indiana

  14. Location of Service Providers: Central Indiana

  15. Concentration of Persons With Disability: Southern Indiana

  16. Location of Service Providers: Southern Indiana

  17. Special Needs housing in Indiana: • With the exception of senior housing, opportunities are limited in many areas • 2)Potential need does not match existing options • 3)Importance of service organizations

  18. Examination of Potential for Senior Housing & Special Needs Housing For more information, contact Kelly Murdock: kmurdock@cr-services.com. 2380 Science Parkway, Suite 107 ■ Okemos, MI 48864 ■ Phone (517) 827-6411 www.cr-services.com

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