A boom in seniors housing continues in Colorado Springs, CO, even as the COVID-19 pandemic has sent occupancy and rents lower and made leasing more challenging.
Three seniors housing projects are scheduled to open by the end of 2020, according to an article Friday in The Gazette. When complete, the developments will expand seniors housing inventory in the region by approximately 10%, the news organization reported. A fourth community also is expected to begin construction before year’s end, with an opening date set for 2022.
Colorado Springs has a history of being a “fertile market” for seniors housing, according to the media outlet. The Colorado State Demography Office estimates that the population of those 75 years and older living in El Paso County will increase by nearly 30% in the next five years and more than double in the next 20 years.
