Commodity pricing and construction labor wage increases are leveling off — but don’t expect an uptick in new senior living projects or a decrease in overall pricing in 2023. That’s according to a new Senior Living Construction Costs report from construction firm Weitz Company. The cost of building new independent living and assisted living communities […]
Category: Development
Kendal Corp. is doubling down on its plans for zen-inspired, wellness-focused senior living with a new community in the Los Angeles area. The Wilmington, Delaware-based senior living operator this week announced plans for Enso Verde, a new life plan community located in Simi Valley, California. The community follows Enso Village, Kendal’s first zen-inspired project created […]
Senior living developer and operator Build Senior Living is executing through the increased pressure of developing in uncertain economic conditions with a slew of projects underway or planned. Build’s current development pipeline includes scheduled groundbreakings in Texas, Missouri and Michigan later this year, with ongoing construction also in those states. The company has achieved that […]
A small senior living operator and developer in New Hampshire is creating a new affordable and workforce housing development meant to help house the company’s employees. Durham, New Hampshire-based Harmony Homes Assisted Living is developing 44 cottage-style affordable housing units on its campus. Though the new cottages will be open to the public, staffers who […]
Headwaters Group is moving full steam ahead with a middle-market active adult growth strategy, and active adult operations giant Greystar slated to manage the company’s properties. Currently, the Denver-based real estate owner and developer has four development sites under control in Colorado and one in Arizona. The company also is a co-sponsor on an acquisition […]
As operators tweak their portfolios in 2023 with margins in mind, unit mix is among their most crucial considerations. New data from the National Investment Center for Seniors Housing & Care (NIC) showed that appropriately sizing care segments is one of the most important factors when developing and designing a senior living community, and one […]
Early in 2021, Oaks Senior Living operated a portfolio of nine communities as a family-owned business. Now, the operator is more than four times that size, and it has a new CEO priming it for growth. Oaks, which hit its 25-year anniversary in March, is opening its 39th building in the latter half of 2023 […]
As the baby boomer demand wave crests, the senior living industry is projected to need many more units in some of the country’s biggest cities, including Dallas, Minneapolis and Seattle. That is according to a report by Integra Realty Resources (IRR), published this week. The report is based on information from Claritas and the NIC […]
Real estate development company Bonaventure is exploring senior living acquisitions in 2023 as the cost of new development and sourcing capital for projects remains high. The Arlington, Virginia-based real estate development company will look for assets that are “great buildings with great fundamentals, but they have a bad balance sheet,” according to CEO Dwight Dunton. […]
This March, Atlas Senior Living will open a new community in Venice, Florida, marking the first of four projects the owner/operator has underway as it continues its growth into 2023. The community – called the Goldton at Venice – is part of a joint venture with DMK Development Group. When it’s finished, the community is […]
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