Homebuilder Enters Senior Living With $1.2 Billion Michigan Pipeline

As a well-known, family-owned custom home builder in Southeast Michigan, Moceri Companies have built a reputation for high-end projects. Describing themselves as a luxury dream builder, Moceri is taking its 60 years of homebuilding experience and applying it to the senior living market to start a planned senior living portfolio, Blossom Collection, anticipated to cost $1.2 billion.

The communities hope to attract a wide range of ages starting as young as 55, and the plan is to offer opulent communities complete with golf courses, without exorbitant rents.

The Auburn Hills, Michigan-based builder has been playing around with the idea of senior living for the last 15 years, explained Kelly Scheer, president of the Blossom Collection.

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Scheer comes to Moceri with almost a decade of experience in the senior living industry. Before leading the Blossom Collection, Scheer was the VP of strategy and operations at Trinity Senior Living Communities in Livonia, Michigan. Trinity Senior Living has 37 communities throughout Michigan, Illinois, Indiana, Iowa, North Carolina, Connecticut, Ohio and Maryland. The communities at Trinity range from independent living and assisted living to memory care and nursing care.

The Blossom Collection will include eight luxury senior living communities over the next 10 years that will be located throughout Southeast Michigan, if all goes according to plan.

“Moceri has been looking into the senior living realm for quite some time and eventually looked into developing some land for it late last year,” she told Senior Housing News. ”Then in early spring they decided to launch the Blossom Collection.”

The communities will have the whole continuum of care, but will not be continuing care retirement communities (CCRCs).

The idea is that people will be able to move into a house or an apartment by either purchasing or leasing and will be able to stay there for good. There will be direct care staff for independent living, assisted living and memory care.

“We will not have any skilled nursing,” Scheer said. “We will however have licensed nurses and are planning to partner with local home care agencies and doctors to come to serve our residents.”

There will also be a renewal and wellness program for residents and short-stay residents, who will be able to receive care after an injury or surgery.

Targeting Younger Residents

While the communities aspire to let residents age in place, that could mean that people spend decades living there, if the Blossom Collection can fulfill the goal of reaching a much younger demographic. Each community will focus on those “55 and bolder,” Scheer explained.

“We’re driven by the active adult communities. There are a lot of really fantastic things happening in that space, but our thought is, why isn’t that happening at all stages of life,” she said. “We want to bring that lively lifestyle and all the energy of an active adult community to all stages of life.”

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Rendering courtesy of Blossom Collection

Though the communities will be of the luxury category, they will be attainable luxury, Scheer said. Prices will be at or below market value for this category and there will be no entry fees for residents. Scheer did not disclose the exact anticipated rents.

The communities will have an array of amenities such as bocci ball courts, full service spas with massage therapy and three dining venues that include a fine dining experience, a tavern and a chef’s table. There will also be friends and family passes given to residents for guests to enjoy the community with them.

There are some signs that the Blossom Collection is on-trend.

It is getting off the ground at a time when independent living is viewed as a hot investment, according to recent survey findings from valuation and advisory services firm CBRE. In particular, a “reinvented” model that attracts a younger crowd is being viewed as an opportunity, according to Bennett Johnson, vice president and Seniors Housing & Care Practice Leader at CBRE.

Of the $1.2 billion portfolio, Villa Montclair is under construction and is located in Auburn Hills, Michigan.Blossom Ridge, located in Oakland County, will officially begin construction in spring 2017 and is set to be open late 2018 or early 2019.

Blossom Park in Oakland Township will follow with a ground breaking in 2017 and the construction of Blossom Springs in Oakland County as well will begin construction in fall 2017.

The last project scheduled right now is The Verandas development, which will break ground at the end of the golf season 2018. This community is being positioned as a golf club rather than explicitly labeled a senior living community. It is also being built adjacent to an 18-hole resort-style golf course and a 9-hole practice course.

The Blossom Collection will own and operate all of its communities and is not seeking out operating partners at this time. The company is putting the finishing touches on its financing for the project and will be looking for financial partners in the coming months, Scheer said. Construction that has been done to date has been self-funded.

Written by Alana Stramowski

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