chi-ClarendaleofAlgonquinRibbonCutting (2) The 2016 opening of Clarendale of Algonquin, a seniors community developed by Ryan Cos. in Algonquin, IL.

CHICAGO—Developers and lenders in the seniors housing sector have for years only allowed new construction to proceed at a modest pace. The development community’s aim was to avoid the mistakes made in past booms, when too many inexperienced operators built too much new product. However, developers have recently picked up the pace a bit as an aging population has steadily boosted demand.