Property Type

DALLAS — Completing the lease-up and stabilization of new communities in a timely and cost-efficient manner is the most difficult aspect of developing active adult properties in the current environment. Such is the assertion of developers that are immersing themselves more deeply in this fast-growing sector of commercial real estate, which lies somewhere in between traditional multifamily and independent living on the spectrum of residential uses and services provided. The challenges of fast and effective lease-up programs are attributable to several factors that are unique to the emerging asset class, which also tussles with obstacles like rising construction and operating costs that are impacting all product types in all major markets. A panel of industry professionals with experience in developing and operating both traditional multifamily and seniors housing properties spoke to these challenges during the second-annual InterFace Active Adult conference on June 2. Held at the Dallas Downtown Marriott Hotel, the event also featured insight and analysis from lenders, investors and architects that are active in the space, as well as active adult renters themselves. Ryan Maconachy, vice president at Newmark, moderated the development panel, which kicked off the main day of the conference with a discussion of what the …