Conventional wisdom states that consumers are attracted to shiny new senior housing product that has flooded certain markets in recent years, putting older properties at a disadvantage and eroding their occupancy. This is not necessarily the case, as statistics show that top-performing senior housing properties tend to be between 10 and 17 years old. However, […]
Non-profit senior living providers across the U.S. have in recent years looked to mergers and affiliations as a way to gain scale and thrive in the face of industry headwinds. But some of these arrangements also come with a price: In order to join forces, at least one party needs to give up some degree […]
The Engel Burman Group has developed a successful portfolio of senior housing on Long Island since the company entered the space in 1997. Now it wants to bring its version of the continuing care retirement community (CCRC) to new markets, and is testing out potential future treatments for dementia in its existing communities. “We haven’t […]
Baby boomers are bringing a new set of expectations to senior living, and architects and designers of CCRCs are heeding the call. It’s no secret the boomers will want to maintain their current lifestyles, especially as they move into the active adult or independent living wings of sprawling continuing care retirement communities (CCRCs). And they […]
Liquidity metrics and net operating margins at U.S. continuing care retirement communities dipped in 2018, driven by an increase in capital spending and a volatile equity market, according to a new report from Fitch Ratings. Median core operating performance decreased to 5.9% in 2018, compared to 7.2% the previous year. Net operating margins, meanwhile, dropped […]
In 1991, California CCRC Morningside of Fullerton was struggling with massive operating losses and very low occupancy. Today, it’s a crown jewel in Life Care Services’ portfolio. This vast turnaround is partly the work of Continuing Life, a services and advisory company that works closely with Life Care Services. The company was created in 2013 […]
Buckner Retirement Services aims to bring best-in-market health and wellness services to residents at Ventana by Buckner, its $140 million continuing care retirement community (CCRC) in North Dallas. Buckner is partnering with Baylor Scott & White Health to collaborate at Ventana by Buckner when it opens later this year, Ventana by Buckner Executive Director Chuck […]
Drawing on a deep background in senior living, Mark Erickson is the CEO and executive director of Summit Vista, the first entrance-fee life plan community in Utah. Erickson has helped Summit Vista forge an innovative partnership with health system Intermountain and attract a younger resident, and ultimately, he would like to open similar life plan […]
Sean Kelly hit the ground running as president and CEO of The Kendal Corporation, and he has yet to slow down since taking the reins in 2016. Kelly has spearheaded a new vision for providing services, entering into strategic partnerships for home health services, modernizing existing communities and planning new projects that will incorporate new […]
Wages rose again for executive directors of continuing care retirement communities (CCRCs), and they weren’t the only ones who saw a pay bump in the past year. The national average salary for a CCRC executive director rose to $172,806 in 2019, an increase of 3.94% over the previous year’s average executive director salary of $166,252, […]