Senior Housing Initiative

As part of its mission, Town Builder Studios is committed to develop senior housing communities in the towns where we work. This commitment is in response to the expanding American senior population:

“America’s older population, persons 65 years or older, numbered 39.6 million in 2009 (the latest year for which data is available). They represented 12.9% of the U.S. population, about one in every eight Americans. By 2030, there will be about 72.1 million older persons, more than twice their number in 2000. People 65+ represented 12.4% of the population in the year 2000 but are expected to grow to be 19% of the population by 2030.” Source: Department of Health and Human Services.

Developing senior housing is consistent with the TBS mission of “town-building” by providing safe affordable housing for all age groups. TBS strongly believes that every town should provide housing for all ages and ability, which allows loyal residents the options to age in place by continually residing in their home-town if they so choose. This creates community, generational heritage and family legacy.

What separates TBS from other development firms is our ability to finance, design and size project-opportunities. For example, financing our developments varies by project but generally includes a combination of taxable and tax-exempt bonds, tax increment financing (TIF), private equity, USDA guarantees, HUD, local banks, etc. With the assistance of these governmental programs, our senior housing projects can meet the needs of a wide variety of seniors regardless of income or health. We are also advocate of CCRC’s (Continuing Care Retirement Community) including independent, assisted, nursing, memory care and hospice for example. Keeping our seniors within the community helps the municipality with stability and quality of life.

TBS routinely teams with “for-profit” and “not-for-profit” senior living management and health care companies. We routinely match-up operator partners that fit the specific project. For example, we are currently working with such organizations as Provena Life Connections, Franciscan Sisters, and Consecra Housing Network. Currently we are developing projects in the following locations:

  • Spring Valley, Illinois
  • Michigan City, Indiana
  • South and West Suburbs of Chicago (Confidential)