Finding affordable housing continues to be a challenge for many renters and buyers in the US.

Among those struggling, the most people 65 and older who are often living on fixed incomes and may need amenities and support services to age in place.

And Lexington Anderson Communities is offering a potential solution with its senior Co-living concept.

Co-living not only provides an affordable housing option, it can also prevent loneliness and social isolation, both common among older adults.

We take a look at the concept and the community it's creating as part of our next chapter initiative, where we explore issues facing Kentucky's aging population.

I don't think it's any secret to anyone that we have an aging population.

We've got a baby boomer generation that is every day more and more of them are becoming retirement eligible and retiring.

We see a large number of seniors who are in need of affordable housing.

It's very limited and it's very expensive.

It's not it's not affordable.

The independent living is, I think, about 30 $500 a month now, and the memory care is running up around 8000 a month.

So you're talking about 35 to $100000 a year.

That's substantial.

Many people cannot afford that.

Independent living homes are just sky high.

They're just they cost too much and they don't offer that much memory care unit or assisted living.

And like independent living where I was just every year it goes up and up.

When my mother moved out of her home and to independent living, it was very expensive.

She had the finances to afford it.

That experience kind of said to me, There's an opportunity whenever you're saying there aren't too many choices, there's more demand and supply.

That's an opportunity.

That's a market gap.

So we came up with our Golden Oaks concept.

It's a pod where four people live together.

There are four suites, and then there's a common area.

It's a luxury space.

Walk in, shower with zero entry, marble countertops, nice cabinets, you know, a nice refrigerator, nice appliances, washer and dryer.

We have made service come in and it's all inclusive.

You just make one payment.

You don't pay utilities or the cleaning lady or anything.

It's very affordable.

It's around 1200 dollars a month versus 3500.

Yeah, this is where I live.

This is my living room.

And I love living here.

If you want to be with people, you can be with people, be in the common area.

And when I get tired of people, I just go in my room and close the door.

But we build community, and the basis of community is human connection and social interaction where you can control the contact.

Not everyone has a family that can come take care of them.

But if you can live in an environment where you have your own private space, but then you share the common area with other people your age with similar interests and similar needs, it's basically a way of everyone caring for each other.

Continuing those positive relationships which are healthy for their for their mind and body, and also remaining affordable because we're sharing that cost.

I've lived here two and a half years.

You can sign it for six months or a year or even longer if you want.

Until you die, I guess, which I'm going to do.

They said they were going to build more, and I hope they do, because it is great for a single person or lady, a single person to live here.

Thank you very much.

So we're really excited to be to see Lexington try this model.

And it might lead to more opportunities for affordability in the future.

You can't build a home in today's market or middle aged families.

It's just you can't build a home that's attainable for them.

So the new homes aren't available in this situation.

It opens up for those homes.

So we've gone from four households to one and we've got room for four more young couples, young families to move into another house.

So it's socially redeeming.

You know, it's it's providing for the community.

Dennis Anderson says plans are in the works to build more co-housing near Golden Oaks and the McConnells Troy subdivision in Lexington.

He says his company is also focused on building active living communities for older adults.

55 and up.

You can find more stories and resources about growing older, the rewards and challenges online on Demand at Katie Borg slash next chapter.