What is “Living in Place”? Previously known as “Aging in Place”, Living in Place (L.I.P.) is a term used to describe a person living in the residence of their choice -- for as long as they are able -- as they age. This includes access to any services or support they might need over time as their needs change. A L.I.P. goal helps seniors ensure they can independently live where they choose, while maintaining &/or improving their quality of life.

Creating living space easily accessible to aging residents is trending in multi-family 55+ communities. This universal design attracts/maintains residents as their lifestyle needs advance. In active 55+ cooperative housing, residents own a share of the community with an equal voice in how it’s run. The tax benefits of home ownership are certainly there, without the the hassle of home upkeep. This makes for an ideal transition from long-term home ownership to a more maintenance free convenient lifestyle.

Most senior cooperative housing communities are corporations. Residents own the building & land collectively with the other residents. Residents buy stock in this corporation & become shareholders. Stock is prorated in value based on the size (square footage) of the home/apartment. Senior co-ops are operated as non-profits, & housing can be available in all forms: Single family homes, town homes, multifamily, high rise apartments, etc. Just like other age restricted retirement communities, senior cooperative housing communities follow the guideline that 80% of dwellings must be occupied by households with one member who is 55 or older.

Typical services for senior cooperative housing include resident managers, maintenance/housekeeping of common areas & home appliances, on site transportation, field trips, & personal care from outside sources available at an extra cost. Amenities may also include on site activities, book clubs, discussion groups, movie nights, happy hours, guest rooms, fitness room, community garden, library, workshop, laundry facility, & indoor or heated parking.

The ability to live in one’s own space/community safely & comfortably requires attention to detail at the construction level. Senior cooperative housing communities are built to meet or exceed ADA standards. Look for 60” wide clearances for a 3-sided or U-shaped kitchen that will allow for sufficient wheelchair access. Doorways & hallways will be wide enough to accommodate all types of transportation aides. The L.I.P. recommended doorway/hallway minimum width is 36” for ease of access. Some details will be harder to spot; Keep an eye out for fashionable grab bars that do double duty as sturdy towel racks or 42” tall electrical outlets, so that seniors don’t have bend or stoop down to plug in or unplug devices.

10,000 people a day are turning 65 & all Baby Boomers will hit that milestone by 2030. Aging baby boomers will represent a larger share of growth in the cooperative housing market, which will dictate how the industry continues to serve the senior resident market moving forward. The rise of multifamily cooperative housing options for those 55+ allows for more emphasis on simple functionality & quality of life, so that older residents can continue to enjoy active healthy lifestyles & Living in Place for years to come.