The Shrewsbury housing market has rebounded in recent years. The Shrewsbury Lantern and Massachusetts Association of Realtors are confident that the recovery will continue for the foreseeable future. While this news is encouraging for investors and residents throughout the city, there are still some lingering concerns. One of the biggest challenges is trying to create sufficient housing for retired seniors. Fortunately, developers are exploring new options to solve the problem.
Contractors Must Respond to Community Feedback
Many contractors have recognized that there is still insufficient housing inventory for low income residents. However, community members have mixed feelings about creating new inventory. Many residents protested proposals to create new affordable housing last fall, because they were concerned that it would lead to more traffic congestion, an influx of new students at the city’s already crowded schools, higher unemployment and a host of other problems.
However, most people didn’t express the same concerns about affordable housing options for seniors. They seem to acknowledge that existing seniors in Shrewsbury are already struggling to find places to live and can’t afford many of the existing senior housing options.
New Efforts to Solve the Affordable Housing Dilemma for Seniors
Southboro-based Capital Group Properties is among the contractors that are trying to address the affordable housing shortage in Shrewsbury. They originally intended to create a 40 bedroom housing unit on Walnut Street. However, they realized that there is a serious shortage of assisted living units for seniors, so they have changed their plans and started constructing those units instead.
According to their new proposal, Capital Group Properties is going to build 150 units for low income Shrewsbury residents. The majority of these units will be dedicated to residents over the age of 55. Capital Group Properties President William A. DePietri said that the plans were changed after community feedback underscored the need for additional senior housing options in the rural community.
“As we further investigated the demand for traditional apartments with age restrictions, the feedback we received was that the real demand in the senior-living markets are for products with more services such as independent living and assisted living.”
DePietri’s new proposal should help older citizens find places to live without paying unreasonable rental fees. However, additional housing stocks will need to be created to address the problem. Other contractors are expected to construct more affordable housing units for seniors in the future as they realize that there is strong demand for them.