About four years ago, Christian Living Communities (CLC) faced a problem: Resident turnover at one of its locations was too high. The nonprofit provider began working with a startup company to bring urgent care services to residents, and within a year, turnover was down to normal levels and emergency room visits were less frequent. Today, […]
Erickson Living will bring in $1 billion in revenue for the first time in 2018 and is preparing to gain even more scale in the years ahead. The Catonsville, Maryland-based provider is pursuing a nearly $2 billion pipeline of new developments over the next five years, while planning to invest an additional $400 million in […]
The 12-month outlook ahead for non-profit continuing care retirement communities (CCRCs) looks steady, with continued demand for this type of senior living. Specifically, non-profit CCRCs are expected to benefit from favorable demographic trends and healthy residential real estate markets, both of which are pushing up demand for those communities, according to a new report from Fitch Ratings. […]
As senior living providers look far and wide for ways to help solve the ongoing labor crunch and implement innovative operational strategies, stronger ties with nearby universities should be a top priority. This is no secret. Life plan communities in particular have found success in various types university partnerships, and some high-profile developments underway today —- […]
Residents of life plan communities say they have greater levels of wellness than older adults in home- and community-based settings. That’s according to newly released first-year results from the Age Well Study, a collaboration between the Mather LifeWays Institute on Aging — the research arm of Evanston, Illinois-based senior housing provider Mather LifeWays — and nearby […]
The Avamere Family of Companies has high hopes for its “micro CCRC” concept. The hopes are so high, in fact, that the Wilsonville, Oregon-based company is launching a separate company dedicated to the concept. Avamere announced the launch of Ovation with two groundbreakings in St. George, Utah and Omaha, Nebraska, representing a combined $170 million […]
The continuing care retirement community (CCRC) sector has been on a roll, with a strong economy bolstering seniors’ ability to sell their homes and pay entrance fees. But even in an overall hot market, two nonprofit communities are standout performers, being the only CCRCs to currently hold an A+ credit rating from Fitch. There were […]
Liquidity and overall margins have improved for U.S. continuing care retirement communities (CCRCs), driven in large part by strong investment returns. For the 102 CCRCs that Fitch Ratings has deemed investment grade, the median net operating margin decreased slightly between 2016 and 2017, dropping from 7.9% to 7.2%. However, the excess margin jumped from 1.7% […]
As the U.S. becomes more racially and ethnically varied, life plan communities would do well to try and attract a more diverse resident and employee population, according to a new report from senior living marketing firm Love & Company. Still, if the data is any indication, such communities have a long way to go. For the […]
Continuing care retirement communities (CCRCs) are poised to attract a wide swath of older adults over the next decade, but that doesn’t mean there won’t be challenges or changes to the business model along the way. For CCRCs—which are also commonly known as life plan communities—the near-term and long-term forecasts look good. Tailwinds include a strong economy; a […]