A North Carolina-based senior housing owner and operator has more than tripled the size of its management portfolio, and is setting the stage for a gradual pipeline of new communities over the next decade. Raleigh-based Navion Senior Solutions assumed operations of 10 communities in Kentucky, South Carolina, Tennessee and Virginia through a partnership with Longview […]
Category: Management
There’s a new CEO and a new president at New Perspective Senior Living. The Minnetonka, Minnesota-based company on Monday named Ryan Novaczyk as CEO and Chris Hyatt as president. The duo previously worked as the company’s president/CFO and partner/COO, respectively. Todd Novaczyk, Ryan’s father, the company’s founder and its first CEO, is transitioning to chairman […]
Mercedes Kerr did not speak English when she started middle school in the United States, after moving from Mexico to Texas with her family. “It was sink or swim,” she says, of being dropped off at school in Houston for her first day. The challenge of quickly learning a language and adjusting to a new […]
Senior living operator Chancellor Health Care is finding success as a growing operator in National Health Investors’ (NYSE: NHI) senior housing portfolio — in part by shaking up tired memory care practices the overall industry “should be embarrassed about.” The Windsor, California-based company is particularly unique in that it’s changing the traditional senior living model […]
It’s a common refrain that the senior housing industry is mired in normal supply-demand dynamics. If such were the case, owners, investors and providers feeling the pain now can wait for the real estate cycle to turn and then continue doing business as usual. Brenda Bacon, president and CEO of Brandywine Living, does not subscribe […]
Economic trends suggest that the senior living industry should prepare for pain. Low interest rates have become the new normal and could soon go even lower, and this will continue to hurt seniors’ ability to bankroll their retirements, former Federal Reserve Board Chair Janet Yellen said Thursday at the National Investment Center for Seniors Housing […]
High labor costs are among the top issues impacting the senior living industry. But raising wages also may help solve a host of other ills — not only improving recruitment and retention, but driving occupancy and higher rates. The subject of a living wage was one of several actionable strategies for workforce development and retention […]
While it’s clear the senior living industry must cater to the growing middle market of older adults over the next decade, what isn’t clear is how exactly that will occur. There are fresh ideas percolating, though. That was made evident during a “hackathon” at the National Investment Center for Seniors Housing & Care (NIC) fall […]
Traci Bild had an epiphany while recently booking a trip to Israel. The flight’s cost — at around $1,600 per person — did not include assigned seats. Those would have cost an extra $625 per person, for her husband and herself. The Bilds’ trip to Israel is an example of the unbundled pricing trend being […]
Bold new models of adult day services are beginning to enter the market, and senior living providers would be wise to take note. Their standard adult day offerings may lose luster in the face of these new options, but providers also may be ideally positioned to take advantage of a growing market opportunity. While many […]