Below are the results of the survey. I didn't get the 100 responses I wanted, but I received 68, including mine. The results are interesting and truly "grass roots." .
Senior Housing Survey
Single most Important feature of the development
Close to medical facilities 13 responses 19%
Close to major shopping 17 responses 25%
Close to public transport 18 responses 26%
Shops on site 12 responses 18%
Other: Affordable 4 responses 6%
Other:Exceptional Management 2 responses 3%
Other:All are important 2 responses 3%
Total 68 responses 100%
What Style of Sturcture?
"Texas" or "Austin" look 15 responses 22%
Nautical Look 0 responses 0%
Contemporary Look 2 responses 3%
Garage Parking 15 responses 22%
High Rise Towers 6 responses 9%
Community/Game Rooms 20 responses 29%
Meal Preparations 10 responses 15%
Total 68 responses 100%
I am not reporting income information here. However, the developer will be informed. The income range was pretty much as expected for a large group of seniors. There was a few in the low end, and a few in the high end, with a big bubble in the middle.
The results are interesting, but more of an aid to any developer.
There were a few surprises to me. For example, I expected closeness to medical facilities to be THE major ingredient for a good retirement center. However, it was public transportation that was the winner. Medical facilities was third, following close behind shopping.
That tells me the respondents to the survey have good health. They are active. They go places and shop. I am delighted to see that. A developer will take note. Also, senior retirement isn't marketed only locally. Senior housing can be marketed all over the USA. Active seniors seem to attract other active seniors. For example, look at the Villages in Florida. This is a highly successful retirement village with active seniors. I think a first class facility is what's needed. However, a way is needed to keep the rents acceptable. There are ways. We can get into that later. Section 8 is not the answer. Probably a tax credit program works best. These are tax advantages offered to the lender of any development. It's been around a long time. It works.
Not quite a surprise, but at least a reaffirmation, seniors like Texas and they like covered parking. However, the big winner is a place to go socialize. That's cool. That is probably the best result one could ask for. That's my kind of people. The "Texas" or "Austin" look got 15 responses for 22%, as did garage parking. Highrise garage parking offers huge benefits to occupants. The walk from car to apartment is much shorter. The car is always covered, and the highrise garage leaves more land for landscaping and the site is not covered up with concrete. Instead of paving, its quite nice to have conversation "parks" around the site. However, the big winner in this style of category was community/game rooms with 20 responses and 29% of the respondents. Yep, you like to socialize.
People, our seniors are active.
I'm in touch with a multi-family developer, now. They are experienced in all kinds of apartments, but locally are developing senior housing. I'm going to look at their product in Dallas and Houston. Their accomplishments over the past 37 years are impressive. They know the financing program I am thinking about.
Good job, folks. Thanks a lot.