Senior housing startup will enter 100 new markets by year-end
LOS ANGELES: A senior housing startup innovation is preparing to enter 100 new markets by the end of the year.
UpsideHom will connect older adults with multifamily housing solutions in 100 new markets by the end of the year – starting with Florida.
The Fort Lauderdale-based company is adding thousands of new units to its inventory in the Sunshine State and beyond as it scales. UpsideHom offers turnkey housing to people age 55 and over, matching customers with arrangements that vary from a room in a shared apartment to an entire home.
“Our team decided it was time to respond to the demand we’ve been experiencing in central and northern Florida – where many of our inquiries are stemming from,” co-founder and CEO Jake Rothstein said.
The startup will expand to Tampa, Orlando, Naples, Jacksonville and Pensacola before entering additional U.S. markets later this year.
UpsideHom partners with condo complexes owned by large management companies to offer its members units in those buildings. That enables older adults to live among singles and families in intergenerational buildings, an alternative to senior living communities that are typically off limits to anyone under the age of 55.
It’s also a less expensive housing option: UpsideHom says it offers individual or shared units for up to 70% less than the cost of traditional independent senior living. Rothstein said the company’s partnerships with large, multifamily operators has helped it keep rates down, even as housing prices surge nationwide.
Still, many UpsideHom customers are gravitating toward shared apartments to cut costs, he added.
“Our roommate option is popular because it enables people to have more affordable housing without a lot of sacrifice,” Rothstein said. “And we found many people who didn’t think they’d like to have a roommate come to love it.”
In addition to housing, UpsideHom offers residents access to transportation, grocery delivery, housekeeping, laundry, fitness programming and more. That ensures members can enjoy perks typically offered in traditional senior living communities while still residing in their own homes.
“Seniors are seeking out an individualized aging experience, where they can pick and choose from the services they need and want, socialize and meet new people on their own terms,” co-founder and COO Peter Badgley said.
Founded in 2020, UpsideHom is backed by $7.3 million in venture capital. The startup has 11 employees, with plans to triple that number in the next 90 days.
UpsideHom is hiring talent for its real estate operations, sales, marketing and technology teams in Fort Lauderdale. Eventually, it will add remote positions to support its national expansion.
“Right now, our focus is on building an incredible company culture here in South Florida,” Rothstein said.
