Author: Cece

A high-rise project that aims to capture demand from seniors looking to live in walkable, urban areas has landed a major construction loan.

The partnership of Mather and Westminster Capital secured a $300M construction financing deal from Huntington National Bank for a 378-unit senior housing development in Tysons that will reach up to 27 stories high, Walker & Dunlop announced Tuesday.

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This May marks the 58^th anniversary of Older American’s Month and the launch of this year’s theme: Communities of Strength. Those age 60 and better are a vibrant, engaged demographic that has built strength and resilience through successes, failures, joys, and challenges. They are active, valued leaders and mentors within our business community and a force within society. And even as COVID-19 impacted this generation most adversely, the group’s important connections within their communities have played a vital role in their health and well-being. This older demographic commands attention and is changing the status quo.

When Older Americans Month was established in 1963 by President Kennedy, only 17 million Americans were 65 years and older. Today, there are an estimated 73 million baby boomers. And while many businesses mistakenly discount the economic impact of this group, they command purchasing power of more than $2 trillion, according to market research, and a net worth that’s nearly twice the national average, according to SuddenlySenior.com.

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As baby boomers continue to age, the senior population (those above 65 years of age) is increasing at a rapid rate. Given this shift in demographics and as baby boomers look to downsize, the demand for senior housing is at an all-time high with many looking for senior housing communities focused on active and engaging lifestyles. As Tysons continues its steadfast efforts to grow and thrive as an urban epicenter where all ages can live, work and play, developing and innovating senior housing is a priority. Tysons is an optimal location for future senior housing developments due to its location at the gateway to the nation’s capital and because of its expansive amenities in the retail and entertainment arenas. The Mather, a new “life plan” community and Silverstone Senior Living complexes in Tysons each provide the lifestyle active seniors are looking for. Mary Leary, President and CEO of The Mather stated, “We are excited about our plan to build a forward-thinking Life Plan Community in Tysons and are thrilled by the interest from leading-edge boomers. Future residents are engaged in their local communities and want to stay connected. They are looking for an urban, walkable lifestyle in a location they love, with culture, sports, arts, and entertainment options that are easily accessible.”

These two unique senior housing developments in Tysons are well underway and illustrate a modern take on senior housing and why Tysons is an ideal location for each development.

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Evanston, IL (January 13, 2021) – What factors are related to the happiness and life satisfaction of Life Plan Community residents? This question was explored in great depth in the landmark, five-year Age Well Study being conducted by Mather Institute and Northwestern University. Year 3 findings of the study are being issued today in a free report available for download by Mather Institute at TheAgeWellStudy.com

The Age Well Study is the only national longitudinal study to evaluate the impact of living in a Life Plan Community on residents’ health and well-being. In its first year, findings from the Age Well Study showed that Life Plan Community residents’ health and wellness compared favorably to that of a demographically similar sample of community-dwelling older adults. Year 2 of the study focused on factors that contribute to residents’ physical health and well-being.

Read the press release here

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