Quality communities for later living should be connected to urban areas so they can help
stimulate local economies.
The potential for later living developments to boost local economies is being recognised as an important asset to towns and cities. Permanent jobs are created to support the development, such as for operations and management, care, housekeeping and property maintenance.
They also increase business for local goods, services and high street footfall, with residents spending at local shops, services and amenities.
Watkins House in Harrow provides later living in a busy urban environment
Quality, accessible developments also enhance health, comfort and dignity. By reducing incidents like falls and giving better support for individual needs and increased wellbeing, such as outside spaces, demand for local health and care services are reduced, easing pressure and saving costs.
These benefits mean that retirement properties create more local economic value and more local jobs than any other type of residential development.
It is estimated that the population living in retirement development can generate £550,000 of spending per year, £347,000 of which is spent on the local high street. Some £225,000 of this is new spending in the local authority, directly contributing to keeping local shops open.
Over the lifetime of the development, a typical development could contribute £2.25m of gross added value to the high street.