Senior housing construction costs surged in 2015 and are expected to increase further this year. While some of these costs are unavoidable, caused by factors such as labor shortages, senior housing companies embarking on projects can help keep their budgets in check by taking a few steps. In particular, senior living companies should focus on deciding as many construction-related questions before work actually starts, and should be wary of trying to cut costs by skimping in the wrong areas, according to Henry Hill, founder of Lenox Hill Construction. The Chicago-based company has several high-profile senior housing projects in its portfolio, including the Reserve of Geneva, a 60-unit independent living community in Geneva, Illinois.
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