The modernized service apartment has abundant opportunities in today’s market, perhaps even more than in recent decades. These complexes are particularly well-positioned to benefit from the aging population, changes in long-term care financing, and increasing independence of elderly residents. However, many service apartments face other challenges, preventing boards from effectively capitalizing on these opportunities. In recent years, some service apartments have been sold or leased to external parties who have radically redeveloped the complexes. Often, this has resulted in the loss of the original concept of protected, independent living with services. This publication guides existing boards and owners of service apartments through the developments in ‘their market’. With contributions from Gerard Thaens
