Lady Lake Brochure

THE INDUSTRY (ALF/ILF)

DEMOGRAPHICS The Primary Market Area for this property has unmet demand for additional ILF, ALF, and MC units. The population for the area is projected to continue to increase. Moreover, the age 65+ sector is anticipated to continue to represent a larger percentage of the population, directly impacting the demand for additional ILF/ALF/MC development.

The wave of aging baby boomers will present challenges to a senior living industry already struggling to meet demand of seniors who cannot afford market-rate independent living, assisted living, or memory care. The population of older adults is quickly growing in low-density areas in particular, where it’s especially difficult to build affordable senior living projects. The Joint Center for Housing Studies (JCHS) at Harvard University released a report indicating the leading edge of the “silver tsunami” is already here and highlights the challenges seniors face. More than 50% of U.S. households are headed by someone above age 50. This means the demand for additional development of ALF, ILF, and MC facilities will continue to increase.

An independent preliminary market analysis outlining the demand for development of an ILF with an ALF component and memory care wing on this property shows strong immediate demand. (Study available upon request and signed Confidentiality Agreement.)The report indicates the immediate Primary Market Area (PMA – 5-mile radius from the subject property) is under-bedded, with estimated unmet demand as indicated in the chart below.

2018 Demographics

1 Mile

3 Miles

5 Miles

Lake County

Population and Households Total Population

3,448 1,324

21,445

68,052 33,460

338,955 138,402

Total Households

9,461

Age Total 65+

Unmet Demand in Subject PMA

52.5%

19.2% 32.8%

26.5%

Unit Type

Year 2020 Year 2022

65.9

Median Age

39.0

52.1

47.0

ILF

471 259 179

523 311 231

ALF

2023 Demographics

1 Mile

3 Miles

5 Miles

Lake County

MC

Population and Households Total Population

3,670 1,439

23,305 10,465

77,052 38,609

381,497 156,837

Total Households

Age Total 65+

Strong immediate, unmet demand for additional ALF, ILF and MC facilities development in immediate area.

55.2%

20.5% 35.9%

28.9%

66.7

Median Age

39.4

54.2

47.8

Village Verana ALF

ALF/ILF DEVELOPMENT OPPORTUNITY - LADY LAKE, FL

Cushman & Wakefield | 7