Eaton is excited to be opening The Summit in September 2019.
This new community is focused on serving “the missing middle”.
What is the missing middle?
The Middle Market includes Americans whose financial resources disqualify them from government support programs (such as Medicaid or HUD-housing) but not enough to pay most private pay options.
With baby boomers retiring with little-to-no savings but with decent social security benefits? We are facing a crisis for middle-market senior housing availability. Everywhere you look, there is a new article about this looming housing issue.
Here are some excerpts below:
From The Washington Post’s Middle-income Seniors Risk Falling Through Cracks in Housing Market: “In the next decade, the number of seniors who are middle income is projected to soar, and a large share of them will be unable to afford housing and care, according to a recent study published in the journal Health Affairs…Seniors who have too much income to qualify for government-subsidized housing and don’t make enough to live in a luxury development will be left behind. ”
From McKnight Senior Living’s Middle Market Could Provide Answer to Occupancy, Oversupply Issues: “A study funded by the National Investment Center for Seniors Housing & Care projected that at least 54% of the 14.4 million middle-income older adults in 2029 in the United States will lack the financial resources to pay for senior housing and care.”
From LeadingAge’s Facing the Challenges of Building for the Middle Market: “Serving the middle market is not a new opportunity, but one that is of increasing concern as a growing and unmet need in many markets. A majority of seniors in this demographic are in a situation where they cannot afford an entrance-fee life plan community, but also don’t qualify for subsidized housing.”
Eaton is excited to be pioneers in the middle-market senior community industry in Colorado.