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V O L . X X X I N O. X V J U LY 1 4 , 2 0 2 5 H E A LT H C A R E / W E L L N E S S F O C U S P eople are living longer and while there are many benefits to lon- gevity, the collision of multiple aging generations is taking a toll on an already burdened housing system. Housing crises are happening through- out the nation, with older populations being some of the hardest hit. Meeting the housing needs of Maine's seniors e demand for 55-plus housing and assisted living facilities is increasing both due to increased longevity and escalation of housing costs, making it harder for older individuals to afford to live in their homes. According to Megan Walton, CEO of the Southern Maine Agency on Aging, nationally, people over the age of 50 are the fastest growing segment of the homeless population. "It's sad and it's also scary, because these are people who, in a lot of ways, have done everything right. ey've had a job, they've started to save for retirement, and yet, the cost of living is high, and the supply of housing is so low compared to the demand," Walton says. "We're really in for a harrowing season ahead when it comes to housing for older adults." ose with lower incomes who qualify for MaineCare are subjected to waiting lists due to limited hous- ing while affluent individuals can afford their pick of communities. "It's the folks in the gap that I worry a lot about," Walton says. is middle market is caught in between, trying to find housing stability amid limited supply and living cost increases. Need for affordable housing According to a 2024 AARP survey, 20% of adults aged 50-plus have no retirement savings, and 61% are worried they will not have enough money to support them in retire- ment. is financial insecurity is reinforcing the need for affordable senior housing. Tyler Norod, development direc- tor for Westbrook Development Corp., argues that communities are more welcoming to senior afford- able housing, but more needs to be done, especially as aging genera- tions collide. "Millennials and baby boomers are going to share this housing type pretty soon," he says. "e oldest millennials, and the youngest baby boomers are going to overlap and qualify for 55-plus housing. e two biggest demographic cohorts are going to have the same need, at the same time, and right now, we're just not building it fast enough." Opened in September 2024, Stroudwater Apartments in Westbrook is an example of a 55-plus community with household incomes at or below 60% of the area median income. e one-bed- room apartments typically include utilities with rents regulated by MaineHousing to assist seniors on fixed incomes. Westbrook Development has more projects on the horizon in Biddeford, Windham and Westbrook to further housing options in the future, espe- cially as younger generations struggle to save for retirement. "It takes a long time to build a building, and we need to start doing it now at a faster rate than we're already doing. I'm just happy that something's getting built, and hopefully we can continue to do more," he says. SENIOR HOUSING CRISIS P H O T O / C O U R T E S Y O F S O U T H E R N M A I N E A G E N C Y O N A G I N G P H O T O / C O U R T E S Y O F D E V E L O P E R S C O L L A BO R AT I V E Megan Walton is CEO of the Southern Maine Agency on Aging. Stevens Square at Baxter Woods is a 55-plus active adult community in Portland. We're really in for a harrowing season ahead when it comes to housing for older adults. — Megan Walton Southern Maine Agency on Aging Surge of developments seek to meet increasing demand B y S l o a n e M . P e r r o n 16

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