Budget cuts sustained across the Department of Housing and Urban Development for the 2012 fiscal year come at a bad time, and without any relief in sight for Section 202 housing, says one senior advocacy group. The HUD budget, signed into law this month as the result of an appropriations “mini-bus” bill, provides HUD funding [...]
Granger Cobb, president and CEO of Emeritus (NYSE:ESC) says that assisted living is about to turn the corner. Sitting down with National Real Estate Investor, Cobb says that while it expects the sector to turn around, it’s being cautious. I’m absolutely convinced that it is only a matter of time before we see occupancies and rental rates improve. [...]
Healthcare real estate investment company Mainstreet added $100 million in new development assets in 2011, which it says shows market demand despite a sluggish economy. The company is currently focusing on building next-generation healthcare campuses across the Midwest, and is set to surpass the past year’s volume in 2012. Mainstreet has closed or is in [...]
More than $8.5 million in Assisted Living Conversion Program (ALCP) grant money was announced Monday by the Senate Special Committee on Aging. The grant will go to fund the renovation of a Syracuse, New York assisted living facility operated by non-profit long term care provider Loretto. The ALCP program, which provides private non-profit owners of [...]
While the economic downturn has impacted all segments of senior housing finance and construction, it has also taken a toll on a particular part of the market—non-profit institutions that run senior housing facilities. Non-profits are struggling generally in light of the downturn, with many reporting that they have had to cut staff and resources due [...]
For continuing care retirement communities (CCRCs), the recent 11.1% cut to Medicare reimbursements to skilled nursing that took effect in October will not derail ratings for the communities, Fitch Ratings reported Monday. The global ratings agency said that a material number of downgrades are not expected for the CCRCs that it rates, citing the composition [...]
The Center for Medicare and Medicaid Innovation announced this month that it will award a billion dollars in grants to heath care innovators who offer the most compelling ideas toward improved care and lower costs for those enrolled in government-sponsored health care programs including Medicare and Medicaid. Through its “Health Care Innovation Challenge,” CMS will [...]
For the 72 million American baby boomers, 10,000 of whom are turning 65 each day, the question of how and where to age is garnering an increasingly wide variety of answers and possibilities, says a New York Times article. An architect and a gerontologist who specializes in the relationship between aging and the built environment [...]
When it comes to long-term care preferences, nursing homes are not at the top of many seniors’ lists, especially as most seniors prefer to stay in their homes for as long as possible. A 2010 AARP Home and Community Preferences study found that nearly three quarters of survey respondents strongly desired to remain in their home [...]
