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Showing posts for category Senior Housing Sector (Back to Index)
Showing posts for category Senior Housing Sector (Back to Index)
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Senior Housing: Top Five Retirement Communities in B.C.
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(Posted on Jan 31, 2017 at 05:09PM by Michelle Bogle)
For retirees looking for a pleasant climate, unending scenery and a host of recreational opportunities, British Columbia is an obvious choice. In fact, it’s home to Canada’s fastest-growing population of retirees with many choosing to settle on Vancouver Island, the Sunshine Coast and the Okanagan.Â
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Of these three regions, there are five communities that are in high demand for senior housing options right now. Read on to learn why:
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Qualicum Beach
Situated on the Strait of Georgia, just a short distance north of Nanaimo, Qualicum Beach is B.C.’s top retirement community with nearly half its population aged 65 years or older. Seniors choose this area for its temperate climate, low crime rates, close-knit community, access to quality medical services, like Nanaimo General Hospital and Oceanside Health Centre, as well as residences/amenities geared to their needs.Â
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Comox
With relatively affordable real estate, regular air service and the new St. Joseph’s General Hospital in neighbouring Courtenay, Comox is a popular destination for seniors in B.C. It’s also known for its great leisure activities, like fishing, boating, skiing and hiking, as well as its wonderful dining opportunities and retail shops.
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Sechelt
Across the Georgia Strait from Vancouver Island lies the Sunshine Coast – another major retirement hotspot. Separated from the rest of the Lower Mainland by Howe Sound, the Sunshine Coast runs from Gibsons to Powell River and enjoys the sheltered, temperate environment that characterizes the communities around the Salish Sea. In Sechelt, more than one in four residents are 65 years or older. These seniors choose this area for its affordable real estate, arts and culture, outdoor activities and small-town feel. It also offers access to Sechelt Hospital, which is a 38-bed facility serving Langdale, Gibsons, Roberts Creek, Halfmoon Bay and Pender Harbour.
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Sidney
Located on the coast of the Saanich Peninsula, Sidney is home to the highest proportion of seniors than any community in the Greater Victoria Area. For retirees who like to travel, Sidney offers great proximity to the Victoria International Airport, as well as ferries to Tsawwassen and the U.S. It’s also the gateway to the Gulf Islands National Park Reserve, with its many wildlife and eco-adventure experiences. Seniors also choose this area for its waterfowl and marine life, wineries, farmers markets and local restaurants. Great medical care is also nearby, including the Victoria General and Royal Jubilee hospitals, as well the Saanich Peninsula Hospital.Â
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Summerland
Summerland is a popular choice for Canadian retirees thanks to its affordable housing options and year-round arid climate, which is ideal for those who enjoy golfing, boating, downhill skiing and other outdoor activities. It’s also home to some of the region’s best orchards and vineyards, making it an ideal retiree spot for those who enjoy delicious food and wine. Healthcare is available at the Penticton Regional Hospital, while a recent expansion of the Kelowna General Hospital ensures premier care for residents in the central and north Okanagan.
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Want to learn more? For investors looking to expand into the senior housing sector, the timing is right – especially in Vancouver, where many seniors are looking to sell their million dollar homes and transition into luxury residences, offering a range of senior care options, services and activities. But, to get into this unique market, you need the expertise of an experienced investment specialist – like our team at Marcus & Millichap Vancouver.Â
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We offer highly effective research, advisory, financing and transaction services tailored to meet the needs of each seniors housing property type. Our associates are well-versed in all assets, including seniors’ apartments, assisted living facilities, independent living facilities, skilled nursing facilities and continuing care retirement communities.
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To learn more about our services and expertise, please contact our office to speak with a broker or to view current investment opportunities, please see our featured listings here.
New Senior Housing Development Coming to Vancouver in 2018/2019
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(Posted on Sep 30, 2016 at 01:00PM by Michelle Bogle)
As the senior population in British Columbia continues to grow, the need for quality senior housing increases as well. But, the demand isn’t just for traditional senior housing options – there’s also a call for luxury residences too.
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The Opal, which is expected to open in late 2018 or early 2019, addresses this need. It’s a new luxury residence for seniors in Vancouver that will allow spouses with different health conditions to stay together in the same place – an often overlooked level of care in other senior housing options.
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The development is expected to offer one six-storey building and two four-storey buildings connected at ground level. The project, which is being built by Element Lifestyle Retirement Inc., will replace what used to be eight single-family homes at 408-488 West King Edward Avenue, just east of Cambie Street.
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According to Candy Ho, Director and V.P. for Marketing and Corporate Relations, Opal will provide a continuum of care, so that senior couples do not have to be separated as their health needs change.
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“This kind of better lifestyle for seniors has been provided by other operators, but without offering the whole aging-in-place continuum,†says Ho. “If it’s development-oriented, it means a high-profit margin. If it’s government care, it’s just bare need. So we are trying to provide the whole spectrum.â€Â
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The development will have 56 rental suites and 44 condo units for future residents needing help in their everyday life. In addition, there will be 30 beds in the facility for complex care, an arrangement that will make it possible for the healthier spouse to visit an ailing partner several times a day.
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In 2015, Vancouver city council approved the rezoning application for the project in order to expand housing options for seniors. According to a staff report considered at the time by council, the project reflects the city’s priority to encourage strong and inclusive communities, where residents can “age in placeâ€.
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At Marcus & Millichap Vancouver, our Senior Housing Specialists are keeping an eye on this changing asset class and the opportunities that today’s demographics present. For more information, please contact our Vancouver office to speak with a broker.
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