Senior Housing Construction Costs Keep Surging

Senior housing construction costs continue to increase across the country, as contractors report a widespread labor shortage. In fact, 70% to 80% of contractors report difficulty in finding qualified labor, according to a Jan. 19 construction costs brief prepared by Larry Graeve, senior vice president of construction firm The Weitz Company. The brief was prepared for the American Seniors Housing Association (ASHA). Various factors are contributing to the labor challenges in the construction sector, including a lack of new workers to replace aging workers, and strengthening labor markets presenting more employment options.