Lifespace CCRC in Texas Files for Chapter 11 Bankruptcy

A continuing care retirement community (CCRC) owned by senior living nonprofit Lifespace Communities has filed for Chapter 11 bankruptcy. The 283-unit community, The Stayton at Museum Way in Fort Worth, Texas, defaulted on liabilities related to bonds issued in the amount of $109.7 million, including interest, according to a bankruptcy notice filed in the U.S. […]

Risk Aversion Holding Back Nonprofit Senior Living, Despite Affiliation Trends

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 […]

3 Innovative Senior Housing Projects That Hold Lessons For Nonprofits

Nonprofit senior living providers have historically driven innovation in the field, but there is some concern that they are being eclipsed in this regard by for-profit competitors that are controlling more market share, can bring capital to bear more quickly and have a higher risk tolerance.  The differences between nonprofits and for-profits may not be […]

‘Horrified and Irritated’ CEO of HumanGood Delivers Wake-Up Call to Nonprofits

HumanGood CEO John Cochrane is not happy with the state of the nonprofit senior housing and care sector. Specifically, he believes that many nonprofit organizations are too complacent and risk-averse, resulting in the senior living industry becoming far too dominated by for-profit providers. “Look at the market share of who owns what today: independent living, […]

Senior Living Nonprofits Quietly Collaborate In Under-the-Radar Group

Non-profit senior living providers across the U.S. have in recent years looked to mergers and affiliations as a way to gain scale and thrive in the face of industry headwinds. But some of these arrangements also come with a price: In order to join forces, at least one party needs to give up some degree […]

Presbyterian Senior Living Appoints Bernardo as CEO

Presbyterian Senior Living (PSL), one of the largest non-profit senior living providers in the nation, has named Jim Bernardo as president and CEO. Following the retirement of Stephen Proctor, Bernardo took the role of acting CEO in June 2019. Bernardo has been with PSL for three decades, beginning his career as an executive director and […]

Large Nonprofit Trinity Eyes Active Adult, Would Take On Private Equity Models

Having taken the role in Oct. 2016, Steve Kastner has now been CEO of Trinity Health Senior Communities for three years — and it’s been an eventful time. With a portfolio rebalancing effort largely complete, the Livonia, Michigan-based nonprofit is pursuing growth in lower acuity settings, including an active adult model that could compete against […]

$216M Expansion Brings Host of Local Businesses, Health Care Providers to Mary’s Woods Campus

Mary’s Woods at Marylhurst used to take pride in being “the best kept secret” in Lake Oswego, Oregon. Not anymore. As a $216 million repositioning draws near completion, the nonprofit life plan community has raised its profile. Mary’s Woods is now more visible and more integrated with the greater Lake Oswego and Portland metro areas, […]

Asbury CEO Leidig: We’ve Changed Our Business to Drive Innovation

Like some other senior living leaders, Asbury Communities CEO Doug Leidig believes that the industry is changing quickly and new ways of doing business are needed. Leidig is looking ahead to the baby boomer generation, and he sees a huge but fragmented consumer group that will not be satisfied with senior living as it exists […]