Avamere Launches New Company, Ovation, For Its ‘Micro CCRC’ Communities

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 […]

CCRC Margins, Liquidity Improve Despite Operational Challenges

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% […]

Life Plan Communities Failing to Attract Diverse Resident Populations

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 […]

New Pricing Models, Unit Mixes Could Gain Favor With More CCRCs

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 […]

Mather LifeWays Bets on Smart Home Tech in $460 Million High-Rise Community

There’s already demand for Mather LifeWays’ newest high-rise project—and it will prominently feature smart-home technology. “We’ve already received three priority deposits—and the first depositor desires two units on the top floor of the first tower,” Mather LifeWays President and CEO Mary Leary told Senior Housing News of the planned $460 million life plan community opening in […]

CCRC Executive Directors See 4% Pay Bump Year-Over-Year

Executive directors of continuing care retirement communities (CCRCs) again saw the largest pay raise among their salaried coworkers in the last year. The national average salary for a CCRC or life plan community executive director is currently $166,402, an increase of roughly 4% over 2017’s average executive director salary of $159,898, according to the latest edition of the […]

CCRC Commits $500,000 to Launch Institute on Aging

A nonprofit continuing care retirement community (CCRC) is hoping to soon provide services to the approximately 60,000 local seniors who live outside of its walls, through a new Institute on Aging. Saint John’s on the Lake in Milwaukee, Wisconsin, is establishing the institute, spurred by an initial commitment of $500,000 from the Saint John’s Foundation. The goal of […]

Kendal Corp. Expands ‘At Home’ Program Under New Strategic Plan

As part of a recently devised strategic plan, Kendal at Home is starting to become more integrated into the continuing care retirement communities (CCRCs) of Kendal Corp., one of the largest non-profit senior housing operators in the nation. Founded in 2003, Kendal at Home was an early example of a “CCRC Without Walls” program, in […]

Greystone CEO: CCRCs Have Solid Future, But Pricing Will Change

There’s been some uncertainty about the future of continuing care retirement communities (CCRCs)—whether they will appeal to the next generation of seniors, or whether their pricing model will deter those potential residents. In reality, though, CCRCs are likely here to stay, Greystone Communities co-CEO John Spooner told Senior Housing News. Irving, Texas-based Greystone is a management consulting […]