The Visiting Nurse Association (VNA) Assisted Living celebrated its grand opening last month in Somerville, Massachusetts and was attended by local and state dignitaries that came to praise the grand opening of this 99 unit facility. As the first assisted living facility in the country to use HUD 202 funding for construction of a senior […]
Category: Development
Last week, various government leaders from the state of Hawaii celebrated a dedication ceremony for a new 60-unit senior rental housing project in Kapolei and helped break ground on a second project that will provide 20 more affordable rental units for kupuna in West O`ahu. The rental units are targeted at seniors whose incomes are […]
Senior housing development over the next few years will be focused on niches as developers and operators seek higher margins in the product and services that they offer besides the broader, cookie-cutter facilities that currently exist. A recent survey by Mather LifeWays Institute on Aging in collaboration with Caring Communities Shared Services and Life Services […]
Jeffrey Anderzhon, FAIA recently announced the formation of Crepidoma Consulting, a professional firm providing built environmental consulting services to the senior living and care provision industry. Anderzhon brings 30 years of national and international expertise as well as a unique knowledge of the marketing, financial and design mechanics that are necessary to shepherd a project […]
Cambridge Realty Capital Companies Chairman Jeffrey A. Davis recently announced a strategic affiliation with Healthcare Advisory, LLC and its President, Joseph R. Marion, that will enable Cambridge to focus more effectively on HUD Section 242 hospital financing. Before founding Healthcare Advisory last June, Marion was Managing Director of Merrill Lynch, Pierce, Fenner and Smith Inc., […]
The National Association of Home Builders’ (NAHB) 50+ Housing Council recently awarded Varenna the prestigious 2009 Best of 50+ Housing Gold Award in the category of Best CCRC, defined as those having up to 200 units. The Santa Rosa, California facility was opened in 2008 and was developed by Oakmont Senior Living and is professionally […]
Senior housing provider Emeritus Corp. showed increases in revenue and higher occupancy rates during the first quarter which resulted in the company having a lower loss. During the first quarter of 2009, the Company opened a 38-unit Alzheimer’s and dementia care community, opened a 22-unit expansion, entered into a lease for an 83-unit assisted living […]
Health Care REIT announced first quarter results last week that showed that the company achieved 1Q09 normalized FFO of $0.81 per share, up 3%. The company also announce that it made $129 million in net new investments during the quarter and that they generated $63.0 million in net proceeds on property sales, recognizing $17.0 million […]
Last week, leading industry players met at the national ALFA conference and expressed overall optimism and in the state of the industry and optimism about future prospects at its annual conference in Philadelphia. The tone of the conference and the speakers show that while the recession is providing challenges, they feel that they are weathering […]
Sunrise Senior Living (NYSE:SRZ) announced first quarter results that showed the company was in the midst of transition as it had lower revenues, occupancy rates as well as announced that some further sales of interests in projects as well as the challenges it is facing with lenders on projects currently providing construction financing to projects […]
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