Pharos-Tribune

Breaking News

Local News

March 10, 2013

Demand fueling senior housing projects

Retiring baby boomers expected to further increase need, market study says.

LOGANSPORT — The Logansport planning department and a developer are saying current and predicted increases in demand are fueling the city’s senior housing development efforts.

Logansport City Council recently approved an amendment to the city’s zoning ordinance that would allow for senior housing on the ground floor of buildings downtown. Shortly after that vote, Indianapolis-based Crestline Communities received a pledge of more than $6 million in tax credits from the state to develop the former McKinley school at 1501 Meadlawn Ave. into a 38-unit senior housing facility.

Arin Shaver, Logansport-Cass County planning director, said the need for senior housing was outlined in a comprehensive plan authored by the planning department in 2009.

“The comprehensive plan said senior housing needs to be looked at because of the demand of baby boomers reaching retirement age,” Shaver said.

Mike Meagher, executive director of Area Five Agency on Aging & Community Services in Logansport, said he personally didn’t feel there was a need in the city for more senior housing, but that independent market studies contracted by companies seeking to develop the establishments may state otherwise.

“Having developed senior housing before, the companies that are doing this have to do a very extensive market study,” Meagher said. “They can’t just submit a housing proposal. If it’s funded by tax credits, there has to be a very extensive look at how much housing is already in the community and how many seniors there are. They won’t get funded with those tax credits unless the community shows a need for the units.

“If the demand isn’t there, they won’t get an award,” Meagher continued. “There must be more demand than what I can see right now.”

Meagher said as an abundant generation reaches retirement age, things may change.

“Obviously with baby boomers reaching retirement, demand is going to go up,” Meagher said. “I assume those market studies believe there’s enough growth because of the expansion of retirement-aged people. I’m not convinced that right now the market’s that great.”

James Wilson, president of Crestline Communities, said Crestline commissioned a market study in October for the McKinley project.

“What they do is they take our project, our rent, our amenities and go out and look at every other project in the market,” Wilson said of the extensive and expensive 162-page report. “They look at all the demographics in the market, how many 55-year-old-and-older households, how many are in income places you’re going to serve, to what extent are they renters... they take all these demographic numbers to come up with the market size, then they determine who is all looking for apartments and how many of those people this project will ultimately serve.”

Wilson said the report indicated the Crestline project would fill about 8.6 percent of overall senior housing demand.

“That is a very strong indicator of market demand,” Wilson said.

Wilson affirmed Meagher’s notion that these studies are required in order to receive tax credits to fund these kinds of projects.

“Just because we believe there’s a market, that’s not enough for the state of Indiana,” Wilson said. “We have to demographically prove it.”

Along with the recent amendment regarding senior housing downtown, Shaver said the planning department currently allows for it in several areas throughout the city, including high-density residential and neighborhood business districts.

“Senior housing usually likes to be located near grocery stores, which neighborhood business districts allow for, and downtown, because there are uses there they would possibly want by them,” Shaver said.

Shaver said the type of senior housing permitted downtown and at McKinley does not include assisted-living establishments.

The next step, Meagher said, will be to see how quickly new senior housing facilities fill units.

“The question on need is how quickly will those units be absorbed into the community,” Meagher said. “Typically if you build a facility like that, you want it absorbed within six months, but they may have a 12-month or 18-month absorption.”

Wilson said the senior housing to be developed at McKinley is expected to lease up within five to six months upon completion.

Shaver said the planning department has yet to hear from any developers for downtown.

“As of right now we haven’t had anybody coming and talking to us,” Shaver said. “They may be looking but they haven’t spoken with us. We don’t get informed until they actually pick a location.”

Mitchell Kirk is a staff reporter at the Pharos-Tribune. He can be reached at 574-732-5130 or mitchell.kirk@pharostribune.com.

For more on this story and other local news, subscribe to The Pharos-Tribune eEdition, or our print edition

1
Text Only | Photo Reprints
Local News
  • Police blotter: April 23, 2014 Have a tip? Anyone with information on a crime is encouraged to call Crime Stoppers at 800-222-TIPS. Information leading to an arrest or conviction could lead to a reward of up to $1,000.

    April 23, 2014

  • Mall mortgage up for auction The mortgage note for the Logansport Mall is scheduled to be sold at auction early next month. Foreclosure procedures for the mall began when lawyers for Algonquin State Bank, N.A., out of Algonquin, Ill., filed a complaint against the mall's owner -

    April 23, 2014

  • NWS-PT042314 Earth Day4.jpg Being kind to their mother: Lewis Cass students plant trees on Earth Day WALTON -- Weeks of planning came together Tuesday as students planted 22 trees on the grounds of Lewis Cass Jr.-Sr. High School in observance of Earth Day. Amy Densborn, a science teacher at Lewis Cass, wanted to plant the trees so that students in s

    April 23, 2014 5 Photos

  • NWS-PT042314 Bags.jpg Students collect 2,475 pounds of plastic bags The Cass County Solid Waste Management District now knows to be careful what you ask for. The district opted to again this year host its plastic shopping bag contest for area elementary schools in observance of Earth Day. Overall, the district recei

    April 23, 2014 1 Photo

  • Inmate sues for religious services at Miami County prison BUNKER HILL – A Native American inmate is suing the Miami Correctional Facility for violating his constitutional religious freedom after the prison last year terminated Native American worship services. Daniel Littlepage says in a class action lawsui

    April 22, 2014

  • Police blotter: April 22, 2014 Have a tip? Anyone with information on a crime is encouraged to call Crime Stoppers at 800-222-TIPS. Information leading to an arrest or conviction could lead to a reward of up to $1,000.

    April 22, 2014

  • NWS-PT042214 Indiana Beach Viper.jpg Monticello amusement park brings new thrills MONTICELLO -- Indiana Beach's first major steel roller coaster -- the Galaxi -- is being retired after 42 years. Don Hurd operated the ride as a park employee 35 years ago. "At that time, it was one of the biggest coasters around," he said. "It's one

    April 22, 2014 2 Photos

  • Southeastern school board reopens its search for a principal at Lewis Cass WALTON -- Southeastern School Corp. officials thought they had found their new principal for Lewis Cass Jr.-Sr. High School. The position was offered to a candidate, but he declined to accept it, Superintendent Trudie Hedrick reported to the school b

    April 22, 2014

  • No Headline Provided Guests will be able to climb into a carved-out pumpkin that will circle above Indiana Beach in one of the park's latest rides -- the Pumpkin Ferris Wheel.

    April 22, 2014

  • shelly maness Woman arrested in meth lab find MACY — A narcotics investigation led to the recent arrest of a Fulton County woman on several drug charges. Shelly Maness, 35, Macy, was arrested on two felony counts of dealing in methamphetamine, possession of meth, possession of an illegal drug la

    April 21, 2014 1 Photo

Featured Ads
More pharostribune.com
Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide
AP Video
U.S. Paratroopers in Poland, Amid Ukraine Crisis US Reviews Clemency for Certain Inmates Raw: Violence Erupts in Rio Near Olympic Venue Raw: Deadly Bombing in Egypt Raw: What's Inside a Commercial Jet Wheel Well Raw: Obama Arrives in Japan for State Visit Raw: Anti-Obama Activists Fight Manila Police Motels Near Disney Fighting Homeless Problem Michigan Man Sees Thanks to 'bionic Eye' Obama to Oso: We'll Be Here As Long As It Takes Bon Jovi Helps Open Low-income Housing in Philly S.C. Man Apologizes for Naked Walk in Wal-Mart New Country Music Hall of Fame Inductees Named 'Piles' of Bodies in South Sudan Slaughter SCOTUS Hears Tv-over-Internet Case Chief Mate: Crew Told to Escape After Passengers
Parade
Magazine

Click HERE to read all your Parade favorites including Hollywood Wire, Celebrity interviews and photo galleries, Food recipes and cooking tips, Games and lots more.
Poll

Should mushroom hunters be allowed to forage off-trail in Indiana state parks?

Yes
No
Undecided
     View Results
eEdition