COVID Impacts Senior Housing Construction

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The impact of the COVID-19 Coronavirus is not limited to making it harder to sell a senior living community due to nervous buyers and lenders (although we are seeing a thaw).  Senior Housing News reports that it has also caused a slowdown in the development of new senior housing product.

https://seniorhousingnews.com/2020/11/22/70-of-senior-living-operators-developers-report-postponing-construction-projects/?itm_source=parsely-api

Not surprisingly, many are taking this time to re-think facility design to enhance their infection control capabilities – a wise choice as many believe that outbreaks similar to COVID-19 are likely to become more common.

https://www.weforum.org/agenda/2020/03/coronavirus-global-epidemics-health-pandemic-covid-19/

Those who use this pause to wisely re-configure and re-structure to prevent similar infections in the future will almost certainly have a competitive advantage moving forward.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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