The housing market downturn helped spur a variety of strategies for encouraging people to move into continuing care retirement communities, especially for those located in the New Jersey area, reports NJ.com. Services offered by some senior living providers range from personal moving consultants to vetted lists of real estate agents and cash loans. The demographic […]
Category: CCRCs
In July, news surfaced that the Department of Housing and Urban Development (HUD) was thinking about changing its guidelines for financing senior living care-continuum campuses. During SHN’s Senior Housing Summit held last month in Chicago, Tim Gruenes of HUD’s Office of Healthcare Programs addressed the rumors. Traditionally, HUD has placed limits on the use of its […]
As assisted living regulations evolve, Medicare and Medicaid reimbursements fluctuate, and healthcare reform begins to take effect, many states are facing their own challenges as they continue to develop, operate, and implement new rules and programs. Here is a collection of long-term care related news bites from across the nation. From Leading Age—White Paper: North […]
The Devonshire at PGA National, a continuing care retirement community (CCRC) in Palm Beach Gardens, Fla., along with its Chatsworth assisted living and skilled nursing facility subsidiaries, has been served with a $158.4 million foreclosure lawsuit, reports the South Florida Business Journal. To date, it’s the largest foreclosure action of the year in South Florida, […]
Many non-profit continuing care retirement communities (CCRCs) have enjoyed getting 100% financing for their properties in the past, but that could change going forward, according to panelists speaking at SHN’s first annual Senior Housing Summit in July. LeadingAge, a non-profit advocacy group of senior living providers, says 80% of CCRCs are non-profit, and while most […]
As assisted living regulations evolve, Medicare and Medicaid reimbursements fluctuate, and healthcare reform begins to take effect, many states are facing their own challenges as they continue to develop, operate, and implement new rules and programs. Here is a collection of long-term care related news bites from across the nation. From MLive.com (Michigan)—Local Senior Community […]
A few high-profile bankruptcies by continuing care retirement communities have made waves in the senior housing industry, and there’s more drama to come—for at least four more years, says a New York-based owner-developer of CCRCs who specializes in acquiring distressed assets. During Senior Housing News’ inaugural Senior Housing Summit, held last Thursday in Chicago, Ill., […]
There may be a big change around the corner for continuing care retirement communities and other care continuum campuses seeking financing from the Department of Housing and Urban Development (HUD) regarding the agency’s guidelines for providing loans to communities where more than 25% of their units are unlicensed. Traditionally, HUD financing has a limitation on the […]
The Financial Accounting Standards Board decided during its May 30 meeting to finalize some amendments changing the way continuing care retirement communities (CCRCs) account for refundable entrance fees. The amendments will be included in a separate Accounting Standards Update in July 2012, and they could affect certain communities depending on their entrance fee refund policies. […]
A high-end continuing care retirement community in Florida has defaulted on its $158.2 million mortgage loan, and the state Department of Financial Services’s Division of Rehabilitation and Liquidation is in the process of being appointed as receiver for purposes of rehabilitation, according to court documents. Devonshire at PGA National, LLC, the community’s owner, is a […]
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