On the heels of an announced joint venture with HCP that is propelling Brookdale into the entrance fee continuing care retirement community market, the company said this week it is converting one of its existing rental campuses into a CCRC with the addition of new care services.
Brookdale Place at University Park in Birmingham, Alabama will undergo the addition of a healthcare center this fall that will shift the campus into becoming one of Brookdale’s growing portfolio of CCRCs.
According to the company’s website, it currently operates 23 CCRCs among its roughly 650 communities.
The company did not provide further information on whether there are additional plans to convert existing campuses into full care continuums.
The healthcare center at Brookdale Place at University Park will add skilled nursing and rehabilitation services to the existing campus, which currently includes independent living, assisted living and memory care services, Brookdale said in a press release.
“We are excited to be able to provide an additional senior living solution within our community,” said Eddie Cummings, Executive Director of Brookdale Place at University Park, in the release. “We believe residents will see the value of a continuum of care with services such as on-site skilled nursing, housekeeping and help with activities of daily living.”
Earlier this month, Brookdale and HCP Inc. announced a $1.2 billion CCRC joint venture, which at its inception will own 14 entry-fee CCRC campuses with Brookdale continuing to manage these communities.
Ongoing speculation has questioned whether the rise of accountable care organizations would overthrow the CCRC model, with a 2012 Cain Brothers column noting the participation of Brookdale’s Sweet Life campuses in the movement.
Written by Elizabeth Ecker