To address the growing need and special needs for seniors, APAH is developing two multifamily properties for independent seniors. APAH’s Mt. Sterling and Oakwood projects, located in Loudoun and Fairfax counties respectively, are expected to open by 2022 (Mt. Sterling) and 2023 (Oakwood). Both are designed to be 100% accessible and feature extensive indoor and outdoor amenity areas.
Older adult population are surging across the Washington D.C. metropolis. But, the region’s existing housing – in terms of options, affordability, and accessibility – is incompatible with the needs of these rising numbers of older populations. Older renters are particularly vulnerable to the rising housing prices of our region, especially those living on fixed incomes. A third of the older adult population spends more than half of their income on housing.
These trends are happening across northern Virginia. Adults over 65 make up nearly a quarter of households in Fairfax County (American Community Survey) and the County projections show a 51% increase in the 65+ age group between 2010 and 2030. Loudoun County, one of the fastest-growing localities in Virginia, is seeing the fastest rise in seniors aged 55+. The number of residents over 55 has grown nearly 190% since 2000 (Loudoun County 2017 Housing Needs Assessment, George Mason University).
Although both our senior projects are several years from completion, APAH is already building relationships with local service providers, nonprofits, and government agencies to cater to the needs of older residents. Resources for physical and mental health, financial counseling, and opportunities to be social and engage with the community.
APAH is committed to creating opportunities and affordable housing throughout the region. We are excited to be working in these new jurisdictions to meet the growing need for older residents.