The Nest

NestApple's Real Estate Blog

Featuring real estate articles and information to help real estate buyers and sellers. The Nest features writings from Georges Benoliel and other real estate professionals. Georges is the Co-Founder of NestApple and has been working as an active real estate investor for over a decade.

Meeting the Needs of Middle-Income Seniors: Clover Group Residents Share Their Stories

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Setting the Stage for Middle-Income Senior Housing 


The Gap in Senior Housing Options 

 For decades, the American dream has been defined by homeownership, family, and a comfortable retirement. However, a rising cost of living coupled with the rapid growth of the senior population has revealed a glaring gap in housing options, especially for middle-income seniors.  These are individuals with annual financial resources ranging from $25,000 to $95,000, who are caught in an economic gray area — too affluent for government assistance but not wealthy enough for high-end retirement communities. By 2029, the number of seniors ages 75 and older is projected to double from 7.9 million to 14.4 million. Faced with rising healthcare expenses and dwindling pensions, more than half of this demographic will find the cost of private senior housing prohibitive. Enter Clover Group, a key player with a solution designed to meet the unique needs of this expanding, yet underserved, demographic. ..  


Introducing Clover Group 


Founded in 1987, Clover Group is a privately held real estate development firm with a laser focus on bridging this gap. With over 30 years of experience, their mission is to provide quality, affordable housing tailored to middle-income seniors. Their extensive portfolio includes over 50 properties with about 6,000 total units. What sets them apart is their commitment to transparent pricing, a wide range of amenities, and fostering a strong sense of community. Their nuanced understanding of the financial and lifestyle needs of middle-income seniors makes them a natural choice to address this growing crisis. Clover Group leverages its vast experience to offer a hybrid housing model. This model synergistically combines affordability and quality of life, making it possible for middle-income seniors to enjoy the comforts and amenities they’ve come to expect without the financial burden often associated with such offerings. Their targeted approach fills a critical gap in the senior housing landscape and positions them as a thought leader in this space.    


Clover Group Residents Share Their Stories: The Real Faces Behind a Growing Housing Solution 


Sandy, Volunteer Community Event Organizer   


Getting Involved and Staying Engaged   

  I organize the special free monthly community events, including dinners, entertainment, and more. We’re kind of self-sufficient here and we run it through bingo and all kinds of other things to get our money and whatever. I went to dinners and luncheons and we had entertainment and DJs and picnics. Many people in our non-assisted living community actively participate. We do tons of stuff and it’s really fun.    

Enriching The Holiday Spirit  

 During the holidays, it’s our favorite time of the year. We light up the night and offer weekly free events. There’s a luncheon, a basket raffle with about 40 baskets, all free of charge. Everything during Christmas is in the house. We wrap it up with a New Year’s party, and then we start the year fresh. Sometimes we have potluck dinners and we also organize breakfasts with irresistible donuts. Our secret weapon is a resident who makes the world’s best ham barbecue sandwiches, which everyone loves. This year, we’re planning a surprise with a magician during one of the holiday luncheons. We make efforts to include a diverse range of people, but we must be mindful of space due to residents with walkers and wheelchairs. We try to keep the events within the residence since there are 135 apartments with about 150 residents. During Christmas, nearly 100 people usually participate, which is quite a turnout. We’re thrilled to see how much they appreciate what we do for them, and that’s truly rewarding.   

Nourishing The Mind and Body  

  Yes, when we have significant events, we opt for catering. We do this when the cost is covered. However, for other occasions when we can cook in-house, we make it a point to inform everyone about the cooks and the source of the delicious, homestyle meals. Our menu features wonderful, grandma-inspired dishes that you’re welcome to try anytime. We offer an array of cookies and desserts, ensuring there’s something for everyone to enjoy. .   


Rose Marie, Volunteer Activities Director   


Curating Resourceful Community Events 

  We do a lot of special events, especially around the holidays. But we also bring in speakers to discuss topics like heart disease, Alzheimer’s, dementia, and more, which our residents appreciate. Today, we had an insurance broker enlightening us about Medicare programs for 2024.    

Communication Is Key: Event Outreach 

  I organize a lot of events here and a lot of times the people will call in here. And I call them back, some of them were outside vendors, and I asked them what they want to come and talk about. We had Hess Physical Therapy come here, and he was a doctor of physical therapy. In fact, after I had my knee surgery, I went to him for my physical therapy. And some of the other residents have gone to him also. So the speakers I reach out to really can make a difference.   

Clovers Charitable Endeavors 

 Well, we do have a nice tradition of collecting items in shoeboxes for residents, focusing on veterans this year. Additionally, we’re also supporting the homeless, including a new initiative suggested by Sandy, where we’re placing containers for people to donate loose change. The proceeds from this initiative will go to the food bank. We try to do a lot of charitable events that reach out beyond the walls of our residency.    


Katie, Fitness Enthusiast, and Volunteer  


Choosing Clover as Home 

  I heard about Clover through a friend of mine’s husband who happened to be a realtor. They drove past the place as it was literally being built! They saw the sign that it was a community for 55 and up, and instantly they thought that would be a good fit for me because they knew I was in the market looking. Then I went online and got a brochure and after reading it I knew it was a great fit for me. Being in a secure building with lots of people my age around me.    

Getting Fit and Active 

  There’s a Sit and Fit class that I actually help run on Tuesdays and Thursdays. It’s a wonderful class we get to be a part of. It’s very inspiring to me because we have ladies come into the class with wheelchairs and walkers. Look, if they can be motivated to come do it. So can I!    

Cleanliness and Maintenance: A Clover Priority 

  Whenever there’s an issue in one of our apartments that requires repair or maintenance, we’re fortunate to have a very dedicated maintenance professional who is always ready to lend a helping hand. He’s a true Jolly on The Spot! He is very reliable and efficient service ensures that our living spaces are well-maintained and comfortable. It really makes a pleasant and worry-free living experience for all of us. We can always count on our maintenance team to swiftly address any needed repairs.   


Dollars and Cents: Clover Group Is An Attractive Option For Middle-Income Seniors 


 According to a study led by Caroline F. Pearson, by 2029, the number of middle-income seniors will nearly double to 14.4 million. They find themselves at a crossroads, pinched between rising healthcare costs, inflation, and escalating living expenses. For this growing demographic, traditional options like government assistance are often out of reach, while the luxurious allure of high-end retirement communities remains a financial daydream.   

A Middle Road Exists: Introducing Clover Group’s Balanced Approach

   Enter Clover Group, a solution that deftly sidesteps the pitfalls facing many middle-income seniors. With a history grounded in providing quality, affordable housing, Clover Group emerges as a beacon for those caught in the financial middle ground. Their pricing model is both transparent and inclusive, offering a range of costs that cover an impressive array of senior-focused amenities.  

Itemizing Amenities and Services: Where Your Money Goes 

 From fully equipped kitchens to in-unit laundry, the financial value offered by Clover Group’s communities becomes apparent when you examine their amenities list. Add-ons like a fitness center and an on-site beauty salon aren’t just conveniences; they enrich the residents’ lives on multiple levels.   

The Importance of Design: Senior-Friendly Features that Save Money in the Long Run 

 It’s not just about current comforts; it’s about future-proofing your life. Design elements like wide halls and emergency pull cords aren’t merely convenient; they’re potential life savers, mitigating risks and possibly saving residents from future healthcare expenditures. 

Community Perks: The Intangible Values that Money Can’t Buy 

 Clover Group extends its value beyond the tangible. Community rooms, lounges, and organized social events contribute not only to a vibrant social life but also to mental well-being. This, in turn, can reduce healthcare costs, adding another layer of financial advantage to their model. 

Financial Testimonials: Real Stories of Value and Affordability 

 Nothing speaks louder than the voices of satisfied residents. While some find peace of mind in the financial aspects, others find emotional and social fulfillment. Each testimony, whether it revolves around a fully-equipped kitchen or a newfound friendship, shines a spotlight on Clover Group’s unparalleled balance of cost and value.    


A Comparative Landscape—Other Housing Options for Middle-Income Seniors 


The search for appropriate senior housing presents a labyrinth of choices, each with its own set of financial considerations and lifestyle implications. In this context, it’s imperative to explore how Clover Group’s model compares with other housing options designed to accommodate the growing demographic of middle-income seniors.  

Senior Co-Housing: The Village Reimagined 

 Imagine a community where every neighbor is a friend, and social bonds are nurtured as carefully as manicured lawns. That’s senior co-housing in a nutshell. These are vibrant setups featuring individual homes that surround shared communal spaces like gardens, libraries, and even gyms. The economics of co-housing are as intriguing as its social dynamics. Shared costs for amenities and communal upkeep make this an appealing choice for the financially prudent senior. However, like an exclusive country club, membership comes at a price; the initial investment for a home can be significant. If the word “community” warms your heart, co-housing could be your utopia. But beware, it’s not a sanctuary for solitude seekers; privacy can be limited in this neighborly milieu.  

Continuing Care Retirement Communities (CCRCs): One Roof, Multiple Solutions 

  Think of CCRCs as the Swiss Army knife of senior living — a one-stop-shop that allows seniors to transition from independent living to assisted care as their needs evolve, all under one roof. But this multi-tier convenience comes at a premium. Entrance fees can mimic the down payment on a luxury condo, and monthly expenses keep the cash register ringing. It’s a potentially budget-busting option for middle-income seniors. The assurance of aging in place is the prime allure here. You’re not just buying a home; you’re buying peace of mind for whatever lies ahead.  

Assisted Living Communities: More Than Just a Helping Hand 

  Assisted Living Communities are the ’round-the-clock caregivers for seniors who need more than just occasional help. From medication management to meals, they offer a full suite of services. That suite, however, comes with a five-star price tag. The level of care provided here can make this option a financial Everest for many middle-income seniors. It’s all about care, comfort, and community here, making it ideal for those whose independence is compromised by health concerns. 

Independent Living Communities: The Sweet Spot of Self-Reliance 

In many ways, Independent Living Communities are the Goldilocks of senior housing, offering a balance of autonomy and community interaction. With a pricing spectrum as broad as its lifestyle appeal, it’s a financially flexible option that can accommodate a range of budgets. Seniors enjoy the freedom to engage in community events or simply relax in their own space, striking a harmonious balance between socialization and solitude.  

Modular or Prefabricated Homes: The Future is Flat-Packed 

  Its innovation meets affordability. Think of it as the IKEA approach to senior living: modern, sleek, and budget-friendly homes assembled on-site. What you save in construction costs, you might sacrifice in amenities. While cost-effective, the lifestyle frills are minimal. These are less about building communities and more about redefining how we think of home construction. The social fabric here is as DIY as the homes themselves.  

Multi-Generational, Multi-Ability Model Communities: A Tapestry of Ages and Abilities 

  These are the melting pots of senior living. Community-driven projects that serve a diverse demographic, not just seniors, but families and individuals with different abilities. Funding models here are as diverse as the residents. Subsidies and variable pricing make it financially accessible but unpredictable. It’s an inclusive ethos but might lack the specialized amenities and attention that seniors often require.  

Accessory Dwelling Units (ADUs): Family First, Frills Second 

 Think of ADUs as the modern granny flat—small, independent living units typically nestled in the backyard of a family member’s home. Budget-friendly but basic. Don’t expect a community clubhouse or organized social events. It’s perfect for those who count family as their greatest amenity but could be isolating for those craving broader social interactions.   


The Clover Group Legacy: A Blueprint for the Future 


Filling a Market Gap 

 As the senior population continues to grow, the need for diverse housing options becomes increasingly urgent. Clover Group’s unique focus on middle-income seniors provides a much-needed alternative to the limited options currently available. By addressing this specific demographic, the company not only offers a solution but also opens up a broader discussion about inclusivity and affordability in senior housing. 

Real Residents, Real Stories 

 The narratives of Sandy, Rose Marie, and Katie underscore the difference that thoughtful, affordable housing can make in the lives of seniors. Their stories are more than mere anecdotes; they are testaments to the community and quality of life that Clover Group has fostered for over 30 years. These experiences, backed by the company’s long-standing reputation, affirm that Clover Group is a viable and preferable option for middle-income seniors. 

Looking to the Future 

 With an increasing number of seniors entering retirement, the demand for affordable housing options will only continue to grow. Clover Group is well-positioned to serve this demographic, leveraging its decades of experience to meet the evolving needs of the times. In an era when many seniors are at risk of financial strain and social isolation, Clover Group stands as a beacon of what the future of senior housing could and should look like.

Written By: Georges Benoliel

Georges has been working in Wall Street for the last 16 years trading derivatives with hedge funds. He has been an active real estate investor for over a decade. Georges graduated from HEC Business School in Paris and holds a master in Finance from ESADE Barcelona.

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