Demand for a product to serve older Americans who wish to live in a multifamily setting with lower acuity needs than today’s senior housing offerings is on the rise. NIC MAP, in partnership with NIC, has identified Enhanced Lifestyle Residential (commonly known as Active Adult) as another opportunity to expand inventory coverage and market transparency.
For purposes of underwriting and comparisons, there has been no widely accepted definition or data set of market fundamentals in this burgeoning real estate asset class. The proposed definition, incorporating the findings of the NIC Board of Directors Active Adult Working Group and NIC Future Leader’s Council (FLC) is:
“Age-eligible, market rate, multifamily rental properties that are lifestyle focused; general operations do not provide meals”
As result of this rise of demand for Active Adult communities, NIC MAP now includes access to Active Adult Inventory data in the NIC MAP platform. The inventory data includes approximately 230 Active Adult communities across the United States. At present, the data includes address, total AA unit counts, and operator information.
Users can access the Active Adult inventory data in (1) Site Detail Reports, (2) Explorer, (3) Property Advisor Reports, and the (4) NIC MAP Batch Reports tab.
1. Site Detail Reports: Once an analysis has processed, click "Reports" then "View Details" beside the desired site name. Active Adult data is listed on the "Supply" tab under the Existing AA Units column. Click "More Details" to view additional property-level information.
2. Explorer: Once an analysis has processed, click "Explorer" or select "Explore" in the top of the left sidebar, zoom in on the area in question. Under the left "Map Data" drop-down, click the checkbox beside "View Competition Data." Selecting an individual property will populate the righthand pane with information.
3. Property Advisor Reports: In the Properties module, zoom in on the area of choice and select up to 50 competitor facilities. Run a Property Advisor Report. Active Adult Inventory data can be found under the Active Adult tab.
4. Batch Reports: Select the Reports button on the left sidebar in the NIC MAP platform and choose Active Adult Property Inventory" at the top of the list under the "Batch" tab.
