Developer focuses on rental housing for adults 55+ and starts in Denver
According to the Population Reference Bureau (PRB), the number of Americans age 65 and older is expected to nearly double from 52 million in 2018 to 95 million in 2060. A general lack of affordability has fueled a huge rental housing crisis.
To successfully combat this problem, Headwaters Group, a vertically integrated real estate owner and developer based in Denver, officially opened for business this week. Headwaters will focus on filling gaps in the housing market by developing rental communities that enable active adults over 55 to live better lives.
Headwaters Group is led by a team of experienced commercial real estate professionals including Managing Partner Ben Burke, SVP of Operations and Finance Chris Ducay, SVP of Development Jeff Hoffman and Director of Investments Lauren Napheys.
In addition to launching its own general partner (GP) fund with discretionary capital to track and co-invest in new investment opportunities, the firm recently entered into a programmatic joint venture with a global wealth manager with extensive experience in the active adult market.
“With Headwaters Group, we use our core principles and data to identify emerging demographic opportunities and create disciplined investment processes to deploy capital at scale,” said Burke. “Our goal is to meaningfully fill the massive gap in the market for compelling, lifestyle-driven and accessible rental housing for adults over 55. We believe there is a better way to age and are committed to improving our communities through customer-centric real estate and operational solutions.”