Average senior housing occupancy inched forward in Q4 2019 to 88.1%, up 10 basis points from the previous quarter’s 88% rate, according to new data from the National Investment Center for Seniors Housing & Care (NIC). But a deeper dive into the data paints a richer picture, including a possible inflection point for assisted living, […]
Category: Development
A new developer and owner is joining the growing ranks of hospitality veterans seeking similar success in senior living through a combination of prudent ground-up development, targeted acquisitions and partnerships with growing operators. Dallas-based Journey Capital owns two communities, has another two in development, and is expected to break ground on four more in 2020, […]
More failing and abandoned malls are being redeveloped for a mix of uses, including senior housing. One group is exploring converting entire shopping malls into sprawling senior housing and care settings, inspired by a pioneering Dutch memory care community. A student design team at Oklahoma State University led by Assistant Professor Dr. Emily Roberts has […]
As senior living companies face intense labor pressures, some organizations are beginning to provide workforce housing for their employees. Doing so is not simple, but providing affordable housing can be a recruitment and retention tool for front-line employees, while adding new rental stock to markets in need, Presbyterian Homes & Services President and CEO Dan […]
Erickson Living has big plans in Virginia, and the upcoming construction of a $300 million continuing care retirement community (CCRC) outside of Richmond is one of the linchpins. The Catonsville, Maryland-based owner and operator will open a sales center for Avery Point in the Richmond suburb of Shore Pump, Virginia, in April 2020, Erickson Living […]
A senior living development underway in Denver holds the potential to become a niche community for Jewish older adults. In so doing, it could showcase why serving particular demographic groups could become a more prevalent play for senior living providers in the years to come. The 205-unit, $97 million project is dubbed Hilltop Reserve because […]
The site of a vacant mall in a Minneapolis suburb is one step closer to being redeveloped into mixed-use, with affordable senior housing as an anchor. The Plymouth, Minnesota City Council last week approved a plan by developer Dominium to redevelop the 17-acre Four Seasons Mall site into three affordable housing buildings — two for […]
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 […]
Conventional wisdom states that consumers are attracted to shiny new senior housing product that has flooded certain markets in recent years, putting older properties at a disadvantage and eroding their occupancy. This is not necessarily the case, as statistics show that top-performing senior housing properties tend to be between 10 and 17 years old. However, […]
Nonprofit senior living providers have shown an increased appetite for growth through affiliation and expanding existing campuses in recent years. Yet an aversion to risk born out of the post-2008 economic downturn has the sector trailing its for-profit peers. These trends are on display in the 16th annual LZ 200 list of top nonprofit providers […]