2.5 Million Seniors Will Need Housing by 2040 – Are We Ready to Build It?
America is aging. By 2030, the U.S. Census Bureau projects that one in five Americans will be over the age of 65. The growth is even more dramatic among the oldest Americans. “There’s a projected increase of 47 percent in the U.S. 80+ population over the next decade,” Harrison Street Global CIO Mike Gordon noted in a December 2024 Multi-Housing News article. According to the National Investment Center for Senior Housing & Care, nearly 2.5 million seniors will need housing by 2040. To meet demand, experts say we’ll need to deliver more than 42,000 new senior housing units annually.
Beyond Basic Construction: Meeting Complex Senior Living Needs
Senior housing design and construction encompasses far more than structural elements – and many general contractors and construction management companies are rising to the challenge. We’re engaging with developers to envision and build high-quality independent living residences and senior housing options. Together, we are working to make a difference in the lives of seniors and address their needs of comfort, safety, and connectedness. Wider doorways, no-step entries, well-placed handrails, and good lighting are just a starting point.
We also aim to deliver:
- Intentional, amenity-rich environments – Incorporating wellness centers, community gardens, and social spaces
- Future-proof infrastructure – Adaptable designs that can evolve with changing care requirements
- Sustainable construction – Energy-efficient buildings that reduce operational costs and environmental impact
- Technology integration – Smart home features and telehealth capabilities for modern senior living
Leveraging Multifamily Expertise for Senior Housing Success
Having knowledge and expertise of multifamily housing design and construction sets general contractors apart. For us, it’s a matter of building on previous experience and attuning to the special needs of developers focused on the senior housing market, from independent living communities to assisted living and memory care facilities. By prioritizing thoughtful design and implementing sustainable construction practices, we can make a lasting impact on the lives of seniors here in Southern California.
Seizing the Opportunity: A Market Transformation Underway
The senior housing market’s projected 4.4% annual growth over the next decade signals a fundamental shift in how America ages. This demographic transformation creates significant opportunities for experienced senior living development companies and assisted living construction specialists who recognize that success requires more than adapting standard multifamily approaches.
Senior living builders must navigate complex requirements including stringent accessibility standards, integrated healthcare considerations, and community spaces designed to combat social isolation. Today’s seniors expect living environments that reflect their active lifestyles and technological comfort levels – a marked departure from previous generations’ expectations.
For construction professionals with multifamily experience, this market expansion offers a clear path to diversification and growth. In challenging markets like San Diego and throughout Southern California, where housing costs compound aging-in-place difficulties, the need for purpose-built senior communities becomes even more pressing.
The senior housing boom isn’t a future possibility – it’s happening now. The companies that will thrive are those positioning themselves today to lead this transformation and help redefine what quality aging looks like for America’s largest generation.