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 DEC. 18, 2006
Senior Market Targeted by Developers in Urban Areas
Senior citizens who prefer a city lifestyle to that of country living are finding more housing options being made available to them as developers focus their marketing efforts in there housing needs.


Major senior-focused projects are popping up in major urban areas. One project was just announce in Denver, another one located in the First Hill section of Seattle is to welcome its first residents in 2008, while on the east coast a successful Senior development opened in the Battery Park area of New York back in 2000.

The president of the American Seniors Housing Assoc. located in Washington, D.C., David Schless feels that in some urban areas property and construction costs render these types of projects unrealistic. On the other hand, the CEO for Balfour Senior Living LLC, Michael Schonbrun, states that his company is working to provide seniors with a contrast to suburban life.

Recently, Balfour Senior Living announced plans to construct a seven-storey, $110 million complex of luxury apartments for Seniors. The project is located in one of the most sought-after areas of real estate in Denver.

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