After a halt in the development and construction of new projects in senior housing during the pandemic, growth is back — with investors and operators navigating economic challenges in order to seize demographic opportunities. That’s according to data and insights shared during Senior Housing News’ recent BUILD conference in Chicago. Construction lending and activity is […]
When the Covid pandemic hit in March 2020, Silverstone Senior Living was approximately halfway through the construction of The Providence at Fairfax, in the Washington, D.C. metro area. At the time, the eight-year-old development company elected to pause construction and take a step back in order to ensure the safety of future residents and their […]
Atria Senior Living and Related Companies have announced that “Coterie” is the brand name for the luxury communities they are developing in San Francisco and New York City, as part of a planned $3 billion pipeline. Real estate investment trust Welltower (NYSE: WELL) is also a partner on the first two Coterie projects. “Coterie is […]
Senior living owners, developers, and operators have found success in recent years repurposing a variety of seemingly obsolete buildings into senior housing, from schools to shopping malls to traditional apartments. Now, adaptive reuse is gaining even more momentum as a senior living development route. Developers are seeking out adaptive reuse opportunities as construction materials and […]
Covid-19 is having a lasting impact on the present and future of senior housing design, and the costs associated with development. The pandemic is accelerating trends that were already in progress such as well-programmed outdoor spaces, more multipurpose rooms, and larger residential apartments. And it is forcing new tweaks to designs including well-appointed staff break […]
The cost of senior living construction is still relatively high thanks to significant swings in the price of certain commodities and a tight construction labor market. That’s according to the latest Senior Living Construction Costs report from construction firm The Weitz Company. The report, released Tuesday and assembled by Weitz Co. Senior Vice President Larry […]
There are growing signs of stability in senior housing capital markets, which should bode well for construction projects slowed by Covid-19 over the past 12 months. More banks are returning to the space and underwriting financing for construction and development, but they are demanding some form of recourse from borrowers in return, according to panelists […]
Covid-19 has disrupted commercial real estate for the past year, but few asset classes have been hit as hard as the hospitality industry. From the early days of the pandemic, some senior living developers, investors and operators have said they anticipate opportunities to acquire and reposition hotel assets. Although the availability of Covid-19 vaccines is […]
Covid-19 has been an unexpected boon to the residential housing market. The resiliency of the market, which has seen home sales numbers and prices eclipse 2019 levels, is a positive trend for the senior living industry, given that people often sell their homes to pay for transitions into communities. Existing home sales increased for the […]
While highrise senior living projects are grabbing headlines in major metropolitan areas such as New York City and Washington, D.C., the trend is also playing out in smaller cities around the country. One case in point is a 24-story continuing care retirement community (CCRC) expansion that recently topped out in Norfolk, becoming the tallest residential […]
