Demand On The Rise For 55+ Housing (Tera Vera) -

SPRINGFIELD, Mo. -- While there are not many options for seniors living here in Springfield, they are on the rise. It's a demographic that the housing industry is paying attention to as baby boomers start to age.

A ribbon cutting was held at Tera Vera, introducing 30 new units. Property owners say there's a growing demand for age-restricted housing.

"It's the fastest growing generation there is out there," said Teresa Hall, who worked as a housing consultant on the project. 

As a whole generation of baby boomers become older, the demand grows for living arrangements that meet their needs.

"It hasn't been served very well in the past, so there's a bit of a demand and supply slump," said Sam Coryell with TLC Properties. "We feel like we can really meet that demand and build a quality product for them."

30 brand new units are now available at Tera Vera. In Springfield, there are only about seven 55+ housing communities according to Hall. 

"Sometimes seniors reach a stage in their life where they rather live in an area with people their own age, without bikes and kid,s and that sort of thing," said Matt Miller, with Miller Inc.

The company behind the housing community says an age-restricted community offers older adults what other rentals might not.

"This is a gated community, so to provide that security. Technology, sensors that would allow keyless entry, that would allow maybe monitoring by adult children," said Coryell. 

Considering specific lifestyles is also important.

"Pet therapy and pets have been a big part of older adults life and there's not been a lot offered, providing for pets, and we've tried to do a good job of that here at Tera Vera," said Hall. 

More than anything, housing for older adults is about community.

"It's being able to have a place where they can gather and play games and do things together," said Coryell.  "And statistics show time and again that that creates better health and a better community."