Texas Real Estate Business magazine covers the multifamily, retail, office, healthcare, industrial and hospitality sectors in Texas.
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www.REBusinessOnline.com Texas Real Estate Business • May 2017 • 37 "Twenty years ago seniors housing looked like old nursing homes, and nobody would want them in mixed- use developments. Now it's a good design and fits very well in that set- ting," says Maberry. "Sometimes they don't even look like senior living buildings, and we have to find ways to tell people who we are. That's a nice dilemma to have." More Development on the Horizon The inclusion of seniors housing in mixed-use projects is not new. Maber- ry saw examples of it when he first en- tered the industry in the 1990s. How- ever, at the time it was a way for the mixed-use developer to land a tenant rather than an intentional part of the plan. Developers now realize that se- niors housing should be an important, integrated part of a project. "Planners realize that seniors shouldn't be sent into exile," says Ma- berry. "They should be in the heart of the community. It's how it's done in many places, in Europe for example." Integrating seniors housing and mixed-use developments is a natural extension of trends in senior living, according to Phil Benjamson, chief operating officer of Blake Manage- ment Group, a seniors housing de- veloper with two communities under construction in mixed-use projects. Seniors and their children are looking for active, lively environments, so de- velopment sites surrounded by retail, restaurants and entertainment are a natural evolution of the sector. "We see a trend toward improving the perception of senior housing — from a place where you go when you get old to a destination that allows you to live a fuller life and focus more on what is important than just making it through the day," says Benjamson. "The challenge for all senior living de- velopers and operators is finding sites that will allow for our product and service." LCB's Stoller echoes that sentiment. "We are looking more and more for urban locations that fit a lifestyle of our typical resident that provides these kind of services, including cof- fee shops, public areas, retail and medical services. Our residents want to see the community and life being lived around them. They want to walk among the town members and not be shut into a building that feels like be- ing put out to pasture." Mixed-use developers have even begun to use senior living integration as leverage for approval, notes Matt Booma, executive vice president of CA Senior Living. Booma estimates 40 percent of the company's new de- velopments are located in master- planned communities, and develop- ers of those projects are seeing the advantages. "When neighbors have a nice, quiet senior living building in their back- yard, the perceived impact of a new movie theater, retail, multifamily and office is reduced," says Booma. "Mixed-used projects have been shown to increase nearby property values, yet they sometimes face oppo- sition from neighbors who have con- cerns about congestion. Having a se- nior component helps mitigate those effects, as many residents either don't own vehicles, or can choose to walk to their most-frequented destinations." The mutual benefits are becoming more and more obvious, according to Formation's Maberry. Between the increasing number of seniors and the popularity of mixed-use projects, de- velopers should expect to see many new developments of this type in the future. "This is a trend that will continue to grow," he says. "The senior population is growing rapidly, and mixed-use de- velopers, retailers and restaurateurs realize seniors can be an important part of their customer base." n Your Trusted Partner in Facilities Maintenance Reputations are built on Merit. www.meritservicesolutions.com info@meritservicesolutions.com 844-74-MERIT (63748) LANDSCAPE MAINTENANCE • Mowing, Trimming, Edging • Seasonal Clean Ups • Tree & Shrub Pruning • Mulch Installation • Turf Maintenance • Irrigation Maintenance SITE ENHANCEMENTS • Landscape Design & Removal • Capital Improvements • Concrete, Asphalt, & Masonry • On Demand Services SNOW & ICE REMOVAL • Snow Plowing • Shoveling • Deicing • Snow Relocation/Hauling • Rooftop Cleaning Want more seniors housing industry news? Subscribe to the weekly Seniors Housing Business e-newsletter at www.seniorshousingbusiness.com. Subscribe to the bi-monthly Seniors Housing Business magazine at www.seniorshousingbusiness.com.