Senior Living Development Costs Average $256,000 Per Unit In 2017

Per-unit development costs for senior living facilities averaged $265,000, at about $283 per square foot, for developments delivered in 2017 or scheduled for delivery in 2018. During the 2017-2018 fiscal year, 122 senior housing developments were constructed or started. This included 35 independent living developments, 52 assisted living developments, and 35 memory care developments. Site areas for the developments averaged 6.25 acres.

These statistics were reported in “U.S. Seniors Housing Development Costs” by researchers affiliated with the CBRE Valuation and Advisory Services for senior housing and care specialty practice. The report is based on original . . .