Core Insights - Goodwin Living is expanding its senior housing offerings in response to increasing demand for senior living options in Alexandria, Virginia [3][4][5] - The new community, Goodwin House Seminary Road, will feature 217 independent living apartments and 16 assisted living apartments, with 7 units designated as affordable housing [4][5] - Construction is set to begin in late 2026 or early 2027, with an expected opening in 2029, aiming to serve approximately 300 to 250 older adults [5] Company Overview - Goodwin Living is a faith-based not-for-profit senior living operator with a history in Alexandria dating back to 1967 [6][9] - The organization has a strong focus on community engagement and resident wellness, planning to include amenities such as a gym and a pickleball court in the new development [11][12] - The CEO highlighted the importance of maintaining high occupancy rates and addressing the long waiting list for current facilities, which can extend up to eight years [7] Market Demand - The U.S. is experiencing significant growth in the older adult population, with a 60% increase in individuals aged 65 and older from 2010 to 2020, and nearly 40% projected from 2020 to 2030 [6] - There is a noted lack of new senior housing developments to meet this growing demand, indicating a market opportunity for Goodwin Living [7] Staffing Challenges - The senior living industry faces challenges in maintaining staffing levels due to declining birth rates and immigration restrictions [15] - Goodwin Living is addressing these challenges by offering paid internships and encouraging employee referrals to attract new hires [15][16] Financial Considerations - The CEO emphasized the affordability of Goodwin Living's services, with entrance fees starting under $200,000 and monthly fees around $3,300, providing long-term care options [14] - The organization is committed to financial stability and reinvestment in both facilities and community services [17]