Developers say Indiana is among many states experiencing a senior housing crunch. The Administration on Aging said demand will only increase as more baby boomers retire and the population grows older. Cicero- Indiana based Mainstreet Inc. specializes in senior housing projects. CEO Zeke Turner said many states are experiencing a senior housing crunch due to the rapid aging trend, but also because many aging seniors are choosing to remain where they are rather than relocating to other states like Florida or Arizona that were once very popular with retirees.
“You’ve got a population base there that’s graying and wants to stay in place and really has no place to go for their care especially as they think about rehab and therapy before they return to their homes or simply if they decide to downsize and look for something to maybe consolidate in their lives. They really don’t have good options of there,” Turner said.
The Administration on Aging says the over 65 population will increase from 35 million in 2000 to 55 million by 2020. The group said the cost of meeting growing senior demands will reach at least $250 billion.