January 12, 2023 | 3 min read
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The United States has reached a point where we have more senior citizens living in the country than ever before. Over 20% of the U.S. population is over the age of 55. For active adults in this age range, finding a suitable place to live can be difficult. Standard multi-family housing will invariably include younger families that produce a larger amount of noise than most 55+ adults would like to deal with.
For these reasons and more, Catalyst Capital Partners has begun to focus on multi-family developments designed with 55+ adults in mind. One such active adult development has been planned for construction as part of our RiverBlue community in West Asheville. If you'd like to learn more about this new active adult multi-family development, just keep reading.
Catalyst's planned 154-unit active adult development at RiverBlue will provide active adults with a unique living opportunity tailored to suit their needs. Units in the development will be available exclusively to adults aged 55 and older. On this multi-family property, 55+ adults will be able to enjoy the quiet, privacy and security that they need while still engaging in an active lifestyle.
Our upcoming active adult property will be operated by Greystar Real Estate Partners. Greystar will serve as the property manager and will provide food and beverage services, fitness classes, a plethora of activities and adult education to our residents. The 55+ multi-family property will also have an on-staff lifestyle coordinator who can handle appointment scheduling, transportation, restaurant reservations, group event planning and more for our residents.
This new multi-family development will be built with accessibility for active adults as a priority. Wider doors will be implemented, trip hazards will be avoided, and the option of grab bar installation will be offered to ensure all of our residents can move around comfortably and 'age in place'. As many of our active adult residents will be working, we will establish a communal co-working area for those tenants who work remotely. There is also a mile of greenway on-site and close access to many hiking trails at RiverBlue, allowing active adults to keep up with their active lifestyles!
Our active adult development in Asheville will be one of three Catalyst properties that form the RiverBlue community. The other two properties are traditional multi-family housing without an age requirement. One of these properties - Hominy at RiverBlue - is currently under construction. Together, these three properties will feature 660 units.
Catalyst is planning to break ground on the active adult multi-family development at RiverBlue in Q3/Q4 2023. We anticipate a construction duration of roughly 20 months, which will allow us to begin delivering units in late 2024.
Multi-family properties for 55+ adults are becoming popular nationwide, and our team is seeking new opportunities for active adult development in the Southeast. If you'd like to invest in active adult multi-family development or if you're interested in learning more about our upcoming properties at RiverBlue, get in touch with Catalyst Capital Partners today!
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