New development isn’t the only way to meet an uptick in demand for independent living in the post-recession era. These days, higher occupancy rates and aging buildings are driving more providers to revamp existing properties to attract today’s seniors.
Given that independent living and continuing care retirement communities (CCRCs) were predicted to lead the way in terms of occupancy moving forward, and that a 2016 outlook from statistical rating organization Fitch Ratings revealed that capital investments would likely be directed toward expansions within independent living, it should come as no surprise that providers are making moves to reposition in this area.