Gray power: Retirement living options abound across North Carolina, attracting newcomers and hefty investments from corporations and not-for-profit housing groups.

• Date: 01 May 2022
• Author: Cuthrell, Shannon

Attracting people to move to Brunswick Forest, a master-planned community near Wilmington for adults age 55 and older, isn't overly challenging these days. Hordes of retiring baby boomers and others long for the coastal lifestyle. Fifty lots sold in January, 20 more than in a typical month. President Jerry Helms says he expects 400 to 500 sales this year.

Unfortunately, getting homes built on those lots is frustrating Helms. The typical six-month construction process now stretches to nine or 10 months because of worker shortages and delays in deliveries of windows, doors and appliances.

"As soon as we get new lots on the ground, our builders are starting homes, and those homes are selling before they're ever complete," Helms says. "It's a great problem to have, but if we had stock on the shelves, so to speak, and weren't selling just-in-time inventory, we could really have 500 to 600 sales per year."

"When a builder has to wait 22 weeks for a window to go into a home," he adds, "that slows the whole process down."

Started in 2007, Brunswick Forest is now one of the state's fastest-growing communities, with an expected 8,000 homes when completed over the next decade. It is part of the boom-time experienced by North Carolina's senior housing industry, which ranges from quaint villas and neighborhoods built for active retirees to nursing homes and health care-centered options for seniors requiring more hands-on attention.

With a diverse geography of beaches and mountains, a moderate climate and a pivotal location bridging the North and South, North Carolina is a favorite choice for many retirees across the nation. The Census Bureau estimates that 639,000 more people moved to the state than left between 2010 and 2019, which is more than in any neighboring state.

Coupled with internal growth, demand for senior housing looks to be a long-term trend. North Carolina's 65-plus population is expected to grow by 56% by 2035, while the number of 85-plus residents will more than double, according to N.C. State Demographer Michael Cline. The state already has 2.1 million residents who are at least age 65, up from 1.2 million in 2010. More than 110,000 North Carolinians turn 65 years old annually.

A low cost of living, access to medical care and tax-friendly policies are the top reasons retirees move to the state, says Andre Nabors, partner relations manager at Visit North Carolina, the state's tourism promotion agency. Meanwhile, senior housing providers are finding success with active-adult developments across the state.

"They promote that you will have an instant friend group of like-minded people of the same age. These are residents that have all moved from other places, had their children leave home and are looking to enjoy their golden years," Nabors says. "The coastal region is still the primary destination, but the mountains and Asheville region, as well as urban areas like Charlotte and Raleigh, are still popular. Outlier towns are becoming important because of their proximity to major cities, health care and amenities."

A big part of the senior housing landscape is the 62 state-licensed, continuing-care retirement communities, which generally include independent living, assisted-living, and skilled nursing care and services. CCRCs house about 22,000 residents...