Report: Housing for seniors grows at modest pace in U.S.

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Construction of seniors housing is taking place at a pace similar to last year's, a new report says.

A total of 32,138 units of non-subsidized seniors housing are being constructed in 283 new properties and 54 expansion projects. In 2004, a total of 32,184 units were built, according to The Seniors Housing Construction Report 2005.

Compared to 1999, construction of seniors housing is growing at a modest pace. A peak year, 1999 saw more than 65,000 units built in the United States. Housing in the report is broken down into the following categories: continuing care retirement communities, assisted living, independent living and senior apartments.

The report, which was released by the American Seniors Housing Association and the National Investment Center for the Seniors Housing & Care Industries (NIC), also found that more than half of the new housing consists of properties oriented to independent seniors. California has the greatest number of new seniors housing properties being built