Category: Development

In the Pipeline: Senior Housing Construction Projects (7/24/14)

Construction: Planned Developers Near Construction on $30MM Michigan Senior Living Village Brighton, Mich.-based Unified Property Group is readying a groundbreaking next month on its latest endeavor, a $30 million “senior living village” in Pittsfield Township, Mich., reports MLive. The Pittsfield Township Planning Commission recently approved the final site plans presented by Unified Property Group, which call… Read More »

Top Providers Reveal New Ways to Recruit Senior Living Talent

In an industry that is rapidly evolving and expanding, leading senior housing providers are looking outside traditional avenues of recruitment to obtain the greatest and brightest candidates to fill key activity program and management roles. “There is a weakness in our industry of organizations growing from within only,” says Cindy Smith, corporate vice president of human… Read More »

Developers See Opportunity as Old Nursing Homes Become Obsolete

The design elements for post-acute care facilities of the 1960s, such as shared rooms and cafeteria-style dining, have become dinosaurs of the industry. In their stead are upscale, hotel-style models that are redefining post-acute care communities, industry experts agree. “The transitional and long-term care facilities of 40 years ago are functionally obsolete,” said Zeke Turner,… Read More »

Capital Raise Launches $100 Million for China CCRC

A Hong Kong-based investor and a global capital raising firm have accumulated U.S. $100 million via insurance-based bonds for the development of a Chinese continuing care retirement community (CCRC). Assisted by Hong Kong’s First Equity Finance Company and IFA Capital, Chinese development company Jiangsu Suja Group Ltd. will raise the $100 million to construct a CCRC… Read More »

Greystone Acquires ARA Seniors Housing Group to Become One-Stop Shop

Greystone, a New York-based senior housing and multi-family real estate lender, will become a one-stop shop for its senior living providers seeking debt financing, brokerage and advisory services with its acquisition of ARA Seniors Housing Group. Though the acquisition price was not disclosed, the new entity, Greystone Real Estate Advisors, Inc., will provide a range… Read More »

Developers See Risk and Big Reward in Tackling Crazy Zoning Markets

While some senior living providers see tough zoning laws as a barrier to breaking ground in a certain market, others see an opportunity to stake claim in otherwise uncharted territory. “In difficult markets to zone there are substantial entitlement hurdles, and usually you’re going to find an underserved population because of the challenges developers have,”… Read More »

Most Popular News of the Week: Assisted Living Leads Senior Living Inventory Market

In case you missed them, here are the top headlines grabbing SHN readers’ attentions this week: Assisted Living Growth Rate Climbs to Highest Peak Yet — Assisted living’s inventory growth rate reached its highest level since 2007 in the second quarter, according to the latest data released by the National Investment Center for Seniors Housing &… Read More »

In the Pipeline: Senior Housing Construction Projects (7/17/14)

Construction: Planned Presbyterian Senior Living Awarded Funds to Build Penn. Senior Apartments Presbyterian Senior Living (PSL) this week announced it has been notified that the Pennsylvania Housing Finance Agency (PHFA) has awarded funding to them to build a 50-unit apartment building for low- to moderate-income people age 62 and older. Construction on the Westminster Place… Read More »

CCRC Face-Lifts Keep Aging Communities Competitive

As continuing care retirement communities (CCRCs) in the pipeline nationwide have all the fixings today— multiple dining areas, exercise and wellness facilities and more — those with years under their belt are staying competitive through campus renovations and updates. An older CCRC in Portland, Ore., – founded in 1957 – is undergoing a $60 million redevelopment project… Read More »

Most Popular News of the Week: Erickson Eyes CCRC Market with $1B Investment

In case you missed them, here are the top headlines grabbing SHN readers’ attentions this week: Erickson to Invest $1 Billion in Clustered CCRC Developments — Erickson Living’s $1 billion investment in continuing care retirement community (CCRC) development and expansion signals a robust future for the CCRC market, which has had sluggish development compared to its pre-Recession… Read More »

Co-Housing Model Can Give Senior Living Providers Competitive Edge

Take a group of seniors to a desert island, and they’ll do a better job providing for themselves than any senior living institution thus far, says architect and co-housing proponent Charles Durrett. While senior living providers aren’t abandoning the tried and true models of assisted living, independent living, memory care or other housing models, some… Read More »