University-Linked Senior Living Communities Expand Their Footprint

More than 80 university retirement communities are now open across the U.S., a sign that a once-unusual senior housing concept has established a broader foothold. According to REBusiness Online, the niche blends senior living with college and university environments, even though advocates acknowledge the model brings together two very different institutions and age groups.

Andrew Carle, president of Carle Consulting, is among the sector’s most vocal backers and says the product type has evolved significantly since early examples such as Meadowood at Indiana University, which opened in 1983, and Green Hills at Iowa State, built in 1986. Carle describes those projects as early, more organically developed versions of what has since become a more intentional category.

Recent operating performance cited in the report suggests the model is drawing sustained interest. Broadview at Purchase College in Harrison, New York, has 288 units and includes 220 independent living residences, 34 assisted living units and 34 memory care units. Life Care Services developed and operates the property on behalf of its ownership, and executive director Ashley Wade said the independent living component is fully occupied with a strong waitlist.

The Spires at Berry College in Rome, Georgia, opened in June 2020 during the COVID-19 pandemic, yet executive director Laurie Steber said the project stayed ahead of schedule in lease-up. She added that the community has waitlists for independent living and assisted living, while memory care and skilled nursing are roughly 99 percent occupied.

Key Details

• Scale of the sector: More than 80 university retirement communities are operating nationwide, according to UniversityRetirementCommunities.com, an online resource established and operated by Carle.
• Early timeline: Meadowood at Indiana University opened in 1983, followed by Green Hills at Iowa State in 1986.
• Typical property profile: Carle said many URCs fall in the 200- to 300-unit range. A large number operate as continuing care retirement communities, often using an entrance-fee model.
• Notable communities:
  • Broadview at Purchase College: 288 units in Harrison, New York; developed and operated by Life Care Services on behalf of its ownership.
  • Sooner Station: Opened in 2022 in Norman, Oklahoma; affiliated with the University of Oklahoma; spans 206,000 square feet with 101 independent living, 64 assisted living and 24 memory care units.
  • The Spires at Berry College: Ownership is planning an expansion with seven cottages designed for 14 additional residents.
• Resident draw: At The Woodlands at Furman in Greenville, South Carolina, president and CEO Rick Brackett said about 30 percent of residents are tied to the university, while the other 70 percent have come from across the country.

Why It Matters

For commercial real estate professionals, the appeal of URCs appears to rest on both demand and differentiation. Operators, designers and consultants interviewed in the report pointed to waitlists, broad geographic draw and strong campus-linked amenity packages as evidence that these communities can stand apart from more traditional senior housing.

The model also benefits from a built-in identity: affiliation with a university can support programming, intergenerational interaction and access to academic, cultural and recreational offerings. That combination may help explain why developers, operators and residents cited in the report expect the category to keep growing.