Newbridge Article – click here
Saw this yesterday – Of course this development is on my radar as a future housing option for people over 62. These communities are amazing. Having a relative in one of these communities, I can see the enhancement in social life, vigor, and physical activity when you have a large pool of new friends to make.
And don’t mistake the independent community – which has a lifestyle similar to a college campus – with the nursing and assisted living facilities. In my opinion, this trend of senior housing options will continue to grow – of course the concept will have to transform as the boomers come through – for example, as more 60 somethings move in, I expect to see more sushi bars and other trendy items (currently, the menus are predominantly the kind of food you expect 75-90 yr olds to like – traditional American faire). But I believe this will be one type of real estate that will appreciate over the next few years…
Amazing that this will be financed with munis…from my knowledge of other financing options (many CCRC’s use private investors which requires a higher return to the investors), this place should run quite “profitably”
