Westminster Palms, a retirement community in downtown St. Petersburg, has purchased a nearby building and plans to renovate it, adding 135 apartments for active seniors over 62. The building was a condominium development project known as Overvue and was never completed as the developer went into bankruptcy. The building was purchased through the bankruptcy proceedings [...]
The next most active market for reverse mortgages in the world is Australia and the signs of the global credit crisis are affecting the availability of their “equity release” products. Australian financial firm Canstar Cannex announced last month it would no longer rate reverse mortgage products, citing that eight lenders had left the market or [...]
The US News and World Report came out with a listing of states that had the smallest percentage of five star rated nursing homes according to the Medicare 5 Star ratings system released last December. With all sorts of data now available through the rankings, this list identifies some southern states with the lowest percentage [...]
AARP recently declared that the provisions in the recently passed Mortgage Relief in the House of Representatives were good for seniors and encouraged the Senate to pass a bill quickly. Resistance by those in the Senate has increased during the last few weeks against this bill because of the broad implications that it may have [...]
CWCapital, LLC, recently announced that it has provided $23.2 million in financing for the construction of a 100-unit Assisted Living facility in Gig Harbor, Washington. The Lodge at Mallard’s Landing is the first construction loan to be closed using the FHA’s LEAN processing program. LEAN, introduced in June 2008, is now fully implemented across all [...]
Mayford Grange, a new age restricted retirement village in Surrey, announced its grand opening last month and have received strong interest from United Kingdom residents. Mayford Grange is part of the Retirement Villages company that operates over a dozen senior living facilities in the United Kingdom (UK). The village will comprise 46 private apartments grouped [...]
For those looking information on leading senior care & living companies in the United Kingdom, HealthInvestor announced their nominees for 2009. The HealthInvestor Awards promote excellence and recognize innovation in the healthcare sector. The winners will be announced at a black tie dinner held on 3 June at the Hilton Park Lane, London. The nominees [...]
NewCourtland recently announced its plans to transfer ownership of five of its seven nursing homes to AristaCare Health Services. The transaction will allow NewCourtland to better focus on expanding independent living options and community based programs for seniors. AristaCare will take over operations of Care Pavilion, Cheltenham York Road, Cliveden, Maplewood Manor and Tucker House [...]
Wyndham Homes, a developer of residential communities in Westchester County, New York and New Haven County, Connecticut, was selected by the Home Builders Association of CT to receive a top HOBI award, Best 55+ Community, for Chatfield Farms. Each year, the prestigious HOBI Awards program recognizes outstanding construction technology, innovation, and sales success in the [...]
