Development of new cohousing: lessons learned from a London scheme for the over-50s

There is increased interest in the UK in cohousing as a desirable alternative for older people. The economics of developing cohousing differ from the normal model for residential development; in particular the participatory nature of the process increases the time required and there are higher risks for both resident/purchaser and developer. We examine the nature of supply and risk using the case of a new senior cohousing community in south London. Given its evident benefits, senior cohousing may eventually become more widespread, and perceived risks will fall. However the nature of the residential development process means that cohousing will always be at a disadvantage when competing for land in high-demand areas like London, and the time required for participatory processes increases costs.