Vi at Silverstone recently announced that it is in final preparations for its official grand opening in early September for its 33 acre development located in North Scottsdale, Arizona.  The project was developed through a partnership between Vi and Plaza Companies and incorporates the desert landscape and modern amenities in the new retirement community.

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Continuing Care Retirement Communities (CCRCs) are getting a lot of media attention lately in the national press and Fox Business News had AAHSA President and CEO Larry Minnix address concerns about the risks involved with CCRCs in a recent segment.  Minnix provided clear responses about the financial risks of CCRCs and stated that he considered  [...]

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CCRCs:  Risks Exists But No Federal Regulation Recommended At This Time Continuing Care Retirement Communities (CCRCs) may get more oversight and regulation at a federal level in the future based upon the tone of Wednesday’s Senate Committee on Aging chaired by Herb Kohl.  The committee heard testimony at a hearing entitled, "Continuing Care Retirement Communities [...]

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The U.S. Government Accountability Office (GAO) released the finding of its report today in conjunction with the Senate Committee on Aging’s hearings entitled "Continuing Care Retirement Communities (CCRCs): Secure Retirement or Risky Investment?".  The report identifies key issues associated with the risks of CCRCs but notes that they provide an important role in a consumers [...]

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GreenFields of Geneva,  a $50 million Life Care community, will hold its groundbreaking ceremony next Monday, July 19 in Geneva, Illinois, a suburb of Chicago.  The 26 acre facility located in Kane County will have 147 one and two bedroom apartment homes with views of Tanna Farms Golf Course and access to 17 miles of [...]

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Senior Star Living announced that it has completed a long-term agreement with Toledo-based Health Care REIT, Inc. (NYSE: HCN) to lease and operate the senior living community formerly known as The Stratford at Kenwood.  The 288-unit community, located on the bluffs of the Ohio River Valley in Northeast Cincinnati, provides a full continuum of care [...]

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A few weeks back, we reported on a story about Hyatt Classic Residence’s (n/k/a Vi) dispute with the IRS over the treatment of CCRC fees.  According to a report from TaxAnalysts.com, it seems that the IRS is backing down from its original position.  Based upon the ruling, the IRS is stating that its treatment was [...]

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Paric/Ruscilli, a joint venture between the St. Louis-based Paric and the Columbus, Ohio-based Ruscilli Construction, recently announced that it has completed The Stratford at Kenwood in Cincinnati, Ohio.  The $75 million project consists of an 18-story residence tower housing 215 independent living, as well as 25 assisted living apartments; 12 skilled nursing units; 12 Alzheimer’s [...]

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According to a recent article by Crain’s Chicago Business, the Clare, a high profile, 248 unit luxury CCRC high rise located in Chicago’s Gold Coast neighborhood, has reached a deal with bondholders on a restructuring package.  According to the report, bondholders will get approximately 70% of the principal while others will receive about 30%.  The [...]

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Classic Residence by Hyatt, a national developer, owner and manager of quality senior living communities, unveiled its new company brand name, Vi (pronounced VEE). Classic Residence by Hyatt’s continuing care retirement communities (CCRCs) will be branded as Vi, while rental communities will change their names to Classic Residence, a Vi Community. The name change will [...]

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What’s the correct way to compensate employees and residents for their role in the sales process?  Last month, the Office of Inspector General (OIG) for HHS posted Advisory Opinion 10-05 (AO) that stated that Continuing Care Retirement Community (CCRC) residents and certain employees that successfully referred a candidate to the independent living area of the [...]

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Trilogy Health Services announced that it recently celebrated its grand opening of Prairie Lakes Health Campus and The Legacy at Prairie Lakes.  Prairie Lakes offers a full continuum of senior living and related health care services including short-term rehabilitation, long-term care, and assisted living, all offered in a homelike setting that features an abundance of [...]

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