New Think Tank White Paper Offers Middle-Market Retirement Housing Solutions
Together with the National Investment Center for Seniors Housing and Care (NIC) and CVS Health, the Milken Institute has released a white paper offering four possible funding solutions to meet the housing needs of middle-market older adults who are too wealthy to qualify for subsidized housing programs, but are unable to afford the housing and services they will need as they age.
The white paper summarizes the findings of a Financial Innovations Lab (FIL) think tank convention held in July and August 2023, which focused on innovative financing and care models for older adult middle-market housing. After a summary review of the well-known barriers, the white paper profiles four innovative solutions that the FIL think tank found to be both viable and scalable:
- Repurpose distressed retirement housing properties through a pilot refinancing/restructuring program.
- Design a revolving loan fund to provide a long-term, sustainable source of capital.
- Implement a pay-for-performance model that delivers long-term cost savings.
- Launch a value-based regional pilot partnership between retirement housing operators and payers.
The white paper concludes with a solemn reminder that the housing and services gap for middle-market older adults is imminent and suggests that a collective effort to salvage, repurpose, finance, and maintain distressed retirement housing properties can become a center-stage middle-market solution if implemented in concert with creative alignment with value-based payment programs.
On Feb. 1st, NIC will host a “Moving to Action: Senior Housing Solutions for Serving the Middle Market” webinar highlighting this research and exploring other potential strategies for scaling housing and care to meet the needs of the nearly 16 million older adults projected to be in this income group in the next decade.
Find more information, see key takeaways from the white paper, and register for the Feb. 1st webinar here.
Contact: Annalyse Komoroske Denio, akomoroskedenio@leadingageny.org, 518-867-8866