Boulder Affordable SENIOR Housing
June 24th, 2014 marked the grand opening of High Mar. Boulder’s first affordable senior housing in 32 years.
High Mar is a brand new development of 59 one and two bedroom condos in a 3 story high, elevator-serviced building. It is located just opposite the High Mar post office on Moorhead Ave, near the intersection with Table Mesa. High Mar, Boulder affordable senior housing, was built to the green standards required in the City of Boulder’s Green Points Program and Enterprise Green Communities.
What does $12.2 million buy in regard to Boulder affordable senior housing?
- Each of the units features a balcony or patio and washer/dryer in the unit.
- The first floor has event rooms, community space with access to the patio, fireplace, kitchenette, seating areas and WIFI.
- Upper floors have semi-private lounge areas.
- There is covered parking and bike parking.
- Each tenant will get an Ecopass (first 3 years post construction)
- There is a designated Residential Services Coordinator responsible for organizing wellness and enrichment programs suited for seniors.
How can one qualify to become a tenant at High Mar?
Residents must be 55+ years old, or be the dependent of a resident who is over 55.
Minimum Income: $20,000/yr or qualified for Section 8 or other subsidy.
Max Income – 1 person: $40,380, – 2 person: $46,140, – 3 person: $51,900
Rent will depend on income and whether it’s for a one bedroom or two bedroom unit.
1 bedroom unit: $632 – 976
2 bedroom unit: $760 – 1172
Boulder County Seniors: The facts
The median age in Boulder County is 36. Not old at all, right? No. But older than 33.4 years, which is what it was in 2000. Consider this; the median age for non-hispanic whites is 39, while the median age for Latino’s in Boulder County is just 25. Our county is reflecting the aging trend of Colorado, the US and across the world… But we’re doing it a little faster!
Boulder County’s 65+ population is expected to grow 6 times faster than our overall population in the next 10 years. Seniors make up 10% of our population now, but are expected to comprise 20% of the population by 2030.
Already 30% of seniors between 65 and 74 years of age, remain part of the workforce. It was just 23% back in 2000.
(Data courtesy of The Community Foundation’s Report: Boulder County Trends)
Resources for Seniors:
AARP: Information, advocacy and member benefits across a broad array of U.S senior issues, including health, work and retirement, money, home and family, entertainment, politics and more.
Age in Place: Learn how to create an environment that is safe and easier to live in, including kitchen, bathroom and other home remodeling, senior cell phone choices, aging in place monitoring products and other resources.
Alzheimer’s Association: This association works on a global, national and local level to enhance care and support for all those affected by Alzheimer’s disease and related dementias. Find local chapters, support groups, education, resource providers, and the Alzheimer’s Navigator for step-by-step- guidance and custom action plans.
MoveSeniors: This i an online resource for families seeking assistance with late life home transitions such as moving, downsizing and remodeling. They offer a directory of Certified Relocation and Transition Specialists and other senior professionals.
RetirementHomes.com: A comprehensive and easy-to-use online senior living directory, spanning the care continuum from active to assisted living, Alzheimer’s care and everything in between.
Silver Planet: Helps baby boomers guide their parents toward safe aging in place options by providing information on services and products, housing options, and scam alerts.
SNAP for Seniors: A comprehensive U.S database providing local resources for senior housing options, care at home, medical facilities and assistance, end of life resources and other sources for guidance and information.
The Senior List: A ratings and review portal for senior-related products and services. Use it to locate and read reviews for adult care homes, durable medical equipment providers, home care, move managers, skilled nursing and much more.
Starker Services: Protect real estate investment profits from capital gains taxes with the assistance of the most experienced independent 1031 exchange intermediary in the U.S.
Dallice Tylee: Senior Real Estate Specialist designee. You can count on an SRES agent to guide you through the process of selling your home, making the transition less stressful and more successful.
Questions we should be asking ourselves today…
Do we have the resources and infrastructure in place to support our aging community?
- Sufficient senior housing stock?
- Adequate system of alternative transportation?
- Medical care and long-term care resources?
What is my retirement going to look like?
- Will I get my pension?
- Can I afford healthcare and long term care?
- Should I rely on social security, Medicare and other benefits?
- What can I do now to help plan a BETTER retirement? (Seniors in Boulder are more active and fewer live with disabilities, than the US average)
Planning now for a post-retirement income is both smart and gives a feeling of security that you might not find elsewhere.
It’s never too early (or late) to start.
Real Estate is my field, so that is where I focus my attention. You might want to consult your estate planner, tax attorney or financial planner to understand your options – Then give me a call if you’d like to chat about owning your own property and/or investment real estate. I can talk you through the options whether you live in Colorado or not. Whether you want to manage tenants or not. Whether you think you can afford it or not.
No strings… 🙂