The Elderly
Old Folks
Geezers
Whatever you call them (soon, 'us') they are big business. With home values skyrocketing, why wouldn't we see an uptick in multifamily construction? In fact, the industry has been growing for decades at a strong pace. But if Mom and Dad can sell their house they paid $60,000 for in 1962 for half a million dollars, why not? But where will they live? They won't go buy another house at these crazy prices. I know, a brand new senior-living high rise!
Steve Brown with the (Dallas Morning News) says that construction starts this week on a two-tower seniors residential development across the street from NorthPark Center.
The $136 million Ventana development at the southwest corner of US 75 and Northwest Hwy. will have over 225 independent- and assisted-living apartments as well as memory-care, skilled-nursing, and rehabilitation facilities.
Ventana is scheduled to open in mid-2019.
D2 Architecture designed the two 12-story towers. Whiting-Turner is the general contractor. Buckner Retirement Services will operate the community.
Makes sense to me.
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