Silver Tsunami: Plymouth looks at Senior Housing
There is a significant demographic shift in Minnesota. The 65 plus population is rapidly growing and many cities are implementing initiatives to adjust to the change. This week we’re kicking off a series called, “The Senior Tsunami.”
The city of Plymouth hired a company called Maxfield Research and Consulting to do a comprehensive rental housing study. Officials want to project rental housing demand through the year 2030 so they can prepare for the future.
The findings show a huge demand for senior housing and because the population of baby boomers in Plymouth will be aging over the next few decade, about 56 percent of the total housing demand will be for age-restricted housing.
“It’s projected that we will need almost 2000 units of all different types of senior housing,” said Jim Barnes, Housing and Redevelopment Authority Manager. “That could be active ownership type housing, multi-family, or all the way up to memory care.”
Currently, the Plymouth Housing and Redevelopment Authority owns two senior living buildings– Plymouth Towne Square and Vicksburg Crossings. Both are for low or moderate income. Residents pay a percentage of their income towards rent while the rest is made up by taxpayers.
Officials say the city run facilities are a great option for folks who do not want home maintenance and still want to call Plymouth home. However, there are wait lists for both buildings.
Plymouth housing and redevelopment authority also offers emergency repair grants for seniors. The grants help income-qualified seniors keep their homes in good repair and make accessibility upgrades.