One of the highest-profile adaptive reuse senior housing developments is on pace for a spring 2020 opening, and the companies involved have started to showcase what they are bringing to market. The Watermark at Brooklyn Heights is transforming the landmark 16-story Leverich Towers Hotel in Brooklyn into 275 units — 204 assisted living, 42 memory […]
The senior housing development landscape is still strong, but many deals are taking longer to close and buildings are taking longer to fill up. Labor shortages are a primary culprit. “We’re seeing a lot of projects being pushed,” said Douglas Kimes, senior vice president/national director of healthcare for TCF Commercial Banking. He spoke Tuesday at […]
Senior housing developers and owners looking for construction financing are adjusting to a changing lending environment — scaling down the size of new projects, placing more equity in their capital stacks and turning to other sources as banks tighten lending and construction costs continue to rise. The lending environment, the high costs of building, and […]
Senior living is currently grappling with the effects of oversupply in some markets. Even more new supply will be needed to meet the demand for senior housing from baby boomers, though, suggests new analysis from the National Investment Center for Seniors Housing & Care (NIC). Using the 80-plus household cohort as a baseline, NIC used […]
There are 25,340 independent living and assisted living units underway in the top 10 U.S. senior housing construction markets, according to a new report from real estate investment and brokerage services firm Marcus & Millichap. The Calabasas, California-based firm analyzed data from the National Investment Center for Seniors Housing & Care (NIC) to determine its […]
A prominent name in real estate development is creating its first senior living projects, partnering with Solera Senior Living on a pipeline in the mid-Atlantic region of the U.S. The Denver-based senior living operator is partnering with Chicago-based McCaffery Interests on Modena Reserve at Kensington, a 135-unit community with independent living, assisted living and memory […]
Large players such as Skender and IKEA are betting that prefab building practices can help meet the rising demand for senior housing. Chicago-based Skender has morphed in the past 18 months from a general contractor to a vertically integrated manufacturer of prefabricated modular building components for multifamily, senior housing, health care and commercial buildings. The […]
As more independent living and assisted living providers and investors are moving into active adult housing for the first time, one of the largest and most well-established brands in the space is expanding and adapting for an evolving consumer base. Del Webb is planning to open 10 new communities in the next 18 months, in […]
Elder care innovator Dr. Bill Thomas has good news and bad news for the senior living industry. The good news is, large-scale senior housing developments won’t go away anytime soon, and they can be financially lucrative if done right. The bad news: it’s not what most older adults in the U.S. can pay for, and […]
The affordable housing crisis in America may be most acute in senior living. As a result, developers are looking at avenues to build affordable senior housing without government subsidies that bring a sense of luxury and comfort to residents, while instilling a renewed sense of dignity. The challenge is likely to become even more acute […]