Addressing the Growing Need for Senior Living Projects Through Tax-Exempt Bonds

As Baby Boomers begin to reach their seventies and life expectancy continues to increase, the U.S. senior population is expected to grow significantly in the coming years and decades. In fact, according to the U.S. Census Bureau:

• The population aged 65+ is projected to more than double in size between 2014 and 2060
• The biggest increase is expected to start in just a few years in the decade from 2020 to 2030, when those aged 65 and over are projected to increase by 18 million to a total of 74 million people, accounting for more than 20% of the total United States population

As the senior population continues to grow, so does the need for housing built specifically for seniors, such as multifamily senior apartments, continuing care retirement communities, independent living and assisted living facilities, skilled nursing facilities and memory care facilities (“senior living facilities”).