“New York City’s elder population is expected to increase 50 percent by 2030, according to city statistics. . . .
“The city faces skyrocketing demand for affordable senior housing and senior services. In 2011, the New York Times reported that New York city had the fewest number of retirement communities and assisted-living facilities per households with seniors when compared to other metro areas, according to the National Investment Center for the Seniors Housing and Care industry.”
Redwood Senior Living, a senior housing building that will hold 80 rental units, has broken ground, making a small step toward alleviating the housing crisis. “The project [also] tackles a more local problem: East New York seniors being priced out of their homes as the neighborhood begins to stabilize and attract investment.” Read more here.
