Market in senior co-living opening up

WITH Singapore’s fast-ageing society headed towards an impending shortage in senior-friendly housing, a market in alternative accommodation for the elderly is opening up.

One initiative in the works is silver co-living projects, where industry operators have indicated interest, said the Singapore Land Authority (SLA).

On Jun 26, SLA launched a tender for 98 Henderson Road, where a four-storey state-owned building stands on a 77,551 sq ft site. It was formerly the location of Henderson Primary School.

Meant for serviced apartments suitable for seniors, the property will be offered for lease for an initial term of four years, with an additional tenancy term of three years. The tender is expected to be awarded in the last quarter of 2024.

The concept of senior co-living is not entirely new, said Kelvin Tan, head of programme at the Singapore University of Social Sciences’ SR Nathan School of Human Development. There are already seniors renting out their homes and working with caregiver operators.

Red Crowns Senior Living (RCSL) is one such company. Under the government’s Shared Stay-in Senior Care Services programme, RCSL rents Housing and Development Board (HDB) flats or private condominium units and matches four to six seniors to each unit. RCSL employs foreign domestic workers in each home, who take care of household chores and basic healthcare.

The provision of senior housing is complicated not just by care needs, but also by space requirements and the need to cater to different affordability thresholds.

Senior co-living with care services, for instance, requires a home of at least a four-room HDB flat size, said RCSL chief executive officer Joshua Goh.

Desmond Sim, CEO of Edmund Tie, noted that senior housing facilities also need wider walkways for wheelchairs and hospital beds, and adequate room for those using mobility devices.

Retrofitting and refurbishing existing facilities, homes, disused or underused spaces would be ideal, in view of Singapore’s high land costs, said Dr Belinda Wee, co-founder and director of Good Shepherd Loft, St Bernadette Lifestyle Village and the Assisted Living Facilities Association.

For example, “inserting entire floors of assisted living units into HDB blocks may be a good way to encourage intergenerational exchange and to also avoid senior ghettos from forming in purpose-built facilities”, she added.

St Bernadette Lifestyle Village runs three co-living facilities for seniors in landed homes at Adam Road, Bukit Timah and Sembawang. It provides assisted-living services such as help with the activities of daily living, medical concierge services and professional medical and nursing care.

Like other types of co-living accommodation, the operator also hosts weekly activities to keep the seniors socially active.

Last year, Joo Chiat Social Club, a franchisee of St Bernadette Lifestyle Village, launched an intergenerational co-living space designed for seniors and families with children.

The two-storey shophouse at 254 Joo Chiat Road allows seniors to stay with a host family.

It was the idea of husband-and-wife team Mariel Chee and Bennett Lee.

“Seniors residing in this unique environment will be part of the host family’s everyday life, participating in family activities, workshops, and excursions,” said Chee.

Rates start from S$4,800 a month depending on the room type and the type of caregiving services needed, according to a previous media report.