Senior Housing

Growing US 65+ Population

Alternative for Independent Senior Living

FFC is developing a market rate alternative for independent senior living for those residents who no longer desire to own but want to stay in the community. This will allow for the citizens of the local community to age in place.

Our senior residents will come from a five- to ten-mile radius of our developments. They no longer desire to own and maintain their home or can no longer afford to do so, but prefer to stay in the area to be close to family and friends. Our developments allow for these senior citizens to remain in the community that they grew up and raised their families in, to continue attending their place of worship, to enjoy their local restaurants and entertainment facilities, and to continue seeing their own doctors which in turn contributes to the economic welfare of the community.

The 65+ population will nearly double from 48 to 92 million by 2055, compared with a 30% increase in the population as a whole. The 65+ age group will be, by far, the fastest growing segment of the population over the next 40 years.

Compelling Supply & Demand Trends

  • Supply growth has been muted since 2010, while demand has grown at a steady 2% per annum during the same period
  • Demand growth is expected to continue to outpace that of supply in the foreseeable future
  • Demand continued to exhibit growth through the recession years of 2008 and 2009

Target Market Selection Criteria

  • Minimum 5-6,000 people within a 5 mile radius in 55-65 and 65+ population groups at or above median national income level
  • Low vacancy rates in surrounding area
  • Demand continued to exhibit growth through the recession years of 2008 and 2009
  • Support for rents from $900-$1,400/month for 2BR unit
  • Geographies that can absorb multiple buildings within a 25-mile radius; thereby creating the opportunity to generate construction and property management efficiencies
  • Zoning for "Market Rate" senior apartments in place or available
  • Site infrastructure facilities readily available (e.g. water, sewer, power)
  • Close proximity to facilities and services that support senior living
  • Retail shopping and dining options within close proximity
Harbor Woods Floorplan
For more information on Harbor Woods