Emeritus Corporation (NYSE: ESC), a national provider of assisted living and related services to senior citizens, announced today that it has closed on the balance of a previously announced purchase of 29 communities from Health Care REIT, Inc. (NYSE: HCN) and affiliates. The communities were formerly operated by Emeritus under long-term leases. The initial closing […]
Category: Senior Housing
The Associated Press ran an article about Millvina Dean, a 2 month old infant at the time the Titantic sank and 96 years old in 2008, and her need to auction off some of here momentos to pay for her nursing home fees. Even though she lives in Britain and has free health care, she […]
AMC Delancey Group, Inc., a leading national real estate investment and development firm, today announced the formation of Delancey Senior Living, an affiliated company launched for the purpose of pursuing development and investment opportunities in the senior housing sector. Delancey Senior Living, an AMC Delancey Group company, is actively seeking land within 100 miles of […]
Aging services provider Ecumen, one of the country’s largest non-profit senior housing companies, has broken ground on a new senior living development in Apple Valley for people living with the challenges of Alzheimer’s Disease and dementia. The $3.7 million memory care expansion at The Centennial House of Apple Valley, located at 14625 Pennock Avenue, is […]
The Wall Street Journal this weekend had an article about using cooking classes, wine tastings and cooking demonstrations as a way to attract affluent seniors to their communities that not only can afford the cost of living in the community but can afford to eat dinner at the community’s restaurants and attend the cooking classes. […]
The National Reverse Mortgage Lenders Association recently announced that the industry has closed 112,100 Home Equity Conversion Mortgages or HECMs in Fiscal Year (FY) 2008, which ended September 30, 2008, surpassing the record loan volume for FY 2007, according to data provided by the Department of Housing and Urban Development (HUD). Reverse mortgages continue to […]
Chicago Housing Commissioner Ellen Sahli recently joined Ald. Ray Suarez (31st) other City officials and members of Senior Lifestyle Corporation to officially break ground for Senior Suites of Kelvyn Park, a new $20.1 million affordable rental complex for seniors. The ceremony marked the start of construction for a proposed 85-unit development, which will be built […]
An article from the Mercury News in California reported that when Governor Arnold Schwarzenegger recently signed the state budget, he cut funding for the local departments that investigates nursing home complaints. The $35,000 cut from a $200,000 budget seems rather small for the Santa Cruz an San Benito areas but the local administrator of the […]
The Social Security Administration announced today that monthly Social Security and Supplemental Security Income benefits will increase 5.8% in 2009. This increase isn’t enough to offset the increases that many seniors have seen in their housing expenses including their property taxes and insurance, let alone any increases in rent or mortgage payments. More than 55 […]
Albuquerque, New Mexico residents are angered over the proposed development of a 4 story retirement home that is proposed to be built by 2012. The 267-unit, $512 million retirement community is planned to be built on land owned by a local church. Local residents "say the place will look like a massive, four-story prison, invading […]
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