One of the latest innovations in affordable senior housing made its grand debut on Tuesday, May 22 when the first MEDCottage unit was placed in a Virginia family’s backyard. “Today, as 78 million baby boomers prepare for their senior years—potentially straining nursing homes and government-funded healthcare programs—we’ve taken a significant step forward in redefining the role [...]
Older adults are becoming an “unprecedentedly large” proportion of the United States’ census, with demographers predicting their ranks to swell to 20% of the overall population, says a Time Magazine article, and the Boomer generation needs to get past its selfish reputation and use its power for the common good in order to solve the [...]
Nerd alert: Marin County, California might be getting some Star Wars-themed senior housing in the not-too-”far, far away” future. Billionaire George Lucas, of Star Wars fame, is working with the Marin Community Foundation to look at options for developing affordable senior housing at Grady Ranch, a property he purchased more than a decade ago with [...]
A newcomer to the Chicago-area affordable senior housing scene has arrived in the form of billionaire investor Warren Buffet, who recently launched a new venture to finance low-income housing projects, reports Crain’s. The first project, St. Anthony Supportive Living Facility, located in the city’s south suburbs, is a nearly $29 million center for Medicaid-supported seniors. [...]
Supporting development of various senior living community models, encouraging developers to incorporate universal design, creating flexible zoning rules, and providing assistance for aging-in-place retrofits are some policy suggestions that could help the nation get ready for the impending silver tsunami, according to the Center for Housing Policy. “We all know it’s coming—baby boomers are about to [...]
Former Massachusetts Ski Area Slated for Senior Housing Development Maryland-based firm The Shelter Group is planning a 133-unit senior living community at the base of an old North Andover ski area that hasn’t seen much use for more than 20 years, reports Boston.com. Located at the old Boston Hill Ski Area at 1275 Turnpike St., [...]
The Department of Housing and Urban Development (HUD) has proposed a rule to streamline requirements for mixed-finance developments through its Section 202 Supportive Housing for the Elderly program in a bid to encourage private market participation. The rule would “remove restrictions on the portions of developments not funded through capital advances, thereby lifting barriers on [...]
California Commercial Investment Co. of Westlake Village has just acquired an affordable senior housing complex located in Van Nuys, Calif., for more than $15 million, according to the Los Angeles Times. The 12-story Fickett Towers, named after former Navy chaplain Harold Lord Fickett, is a 200-unit apartment complex that was completed in 1973. The buyer, [...]
On the Record: Steven Insoft, CFO & COO of Aviv REIT
While publicly traded healthcare real estate investment trusts (REITs) like HCP, Inc., Ventas, Inc., and Health Care REIT Inc. grab a lot of headlines, privately traded ones like Aviv REIT often seem to fly under the radar. But as Senior Housing News recently discovered after speaking with Aviv’s Steven Insoft, who holds dual roles of [...]
On the Record: Majd Alwan, Executive Director of LeadingAge CAST
With technological advancements tied so closely to the future of senior care, Senior Housing News recently interviewed Majd Alwan, Ph.D., the Senior Vice President of Technology and Executive Director of the Center for Aging Services Technologies (CAST) at LeadingAge, an association of not-for-profit, long-term care providers of senior services. At any given time, CAST is [...]
On the Record: Keith Reuben, EVP of Commercial & Specialty Lending at Capital One Bank
In the past 30 years, Capital One has transformed itself from “just” a credit card company into one of the U.S.’s top banks. And as part of its lending arm, Capital One Bank says it has a significant focus on its commercial and specialty finance business, which encompasses senior housing and care lending. Last Fall, [...]
On the Record: Adam Kane, SVP of Corporate Affairs at Erickson Living
In 2009, the company known as Erickson Retirement Communities, headquartered in Baltimore, Md., filed for Chapter 11 bankruptcy protection. In December of that year, Hanover, Md.-based Redwood Capital Investments LLC bought most of the bankrupt company’s assets for $365 million, out of which emerged Erickson Living. Senior Housing News recently caught up with Adam Kane, [...]
On the Record: David Reis, CEO of Senior Care Development
After seeing that Senior Care Development, LLC had placed a stalking-horse bid on the bankrupt Clare at Water Tower, in Chicago’s Gold Coast, Senior Housing News tracked down its chief executive officer David Reis for an exclusive interview. Reis has extensive experience in senior living development, and specializes in ground-up development of large-scale continuing care [...]
