A friend once told me about visiting the Jersey Shore as a kid and seeing huge old mansions converted into retirement homes. Every summer, there would be dozens of residents sitting in rocking chairs on the porch, taking in the sites of the bustling beach community. These people, she estimated, were between 60 and 80 years old for the most part. Today, the statistics show that people of this age are doing anything but sitting on the porch; and senior communities need more rock and roll than rocking chairs to appeal to residents.

Zach Bowyer, MAI, MRICS, senior managing director, valuation & advisory/living sectors at C&W, told Pi, “Our same-store valuation data does suggest year-over-year improvement in operating margins, which is a combination of improved occupancy, rent growth, and improving labor market. However, continued innovations in technology, healthcare provider partnerships and building envelope will be required in order to regain pre-COVID operating margins.”

Like so many aspects of senior living, pools have evolved. No longer are these just for lounging or swimming. Increasingly, the design and features of a pool and the surroundings are carefully thought out and planned or can result in an expensive unused, and high-maintenance amenity that does little to attract prospects. Before making an investment in a pool, communities need to determine how residents want to use the amenity and what features or accessories will be needed.