Saturday, November 9, 2013

Workforce Housing Could Lead to New 55+ Modular Housing Projects

There are workforce housing projects that look like prisons and then there are workforce housing communities that rival senior housing communities in amenities and design. The latter is going to become a major part of continued recovery for the modular housing industry.

Construction of 55+ rental and sales communities are up 14% this year and developers are confident that this market will continue to grow as Boomers begin retiring and downsizing in even greater numbers than today.

The model that has been used for this age group, the self contained community with golf courses, clubhouses, restaurants, biking and hiking paths are giving way to well designed housing with maybe a community center but not the other accouterments. Today's 55+ age group doesn't want them, instead looking for towns and cities with cultural diverseness and scenic areas to visit.

The new breed of 55+ looking to escape the gated community
No longer wanting to live behind those gated walls, seniors want to be independent which means getting in their car and going somewhere, anywhere that doesn't involve a golf cart and looking at "old people."

Carts waiting to take seniors around their gated community's golf course
Modular home factories and builders can be on the cusp of this wave of housing. Creating modules that can be combined in many different configurations, shipped and finished within months instead of years will the answer many senior housing developers are looking for to meet this need.

If a modular home factory had even had one sales rep doing nothing but going after senior housing developers it would be like shooting fish in a barrel once those developers are exposed to the benefits of modular construction.

I don't know any factory that would turn down an extra 300 or mores modules a year.

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