Construction: Planned Developers Plan $10 Million Senior Housing Project for Kokomo, Ind. The NRP Group LLC, a Cleveland, Ohio-based developer, this month announced plans to pursue a $10.2 million senior housing project in Kokomo, Ind., reports local Kokomo Tribune. NRP will submit a proposal to the Indiana Housing & Community Development Authority for housing tax […]
Senior Care Development
With the economic downturn and housing market decline, more continuing care retirement communities (CCRCs) are offering alternative entrance fee refund options to help attract prospective residents, but while many say it’s good business to do so, not all have adopted this practice. There’s a clear trend toward communities offering 50% and even 0% refund options […]
Life Care Services registered a pretty large blip on our radar back in April when it put some skin into the game by investing in luxury senior community the Clare along with Senior Care Development through their new joint venture, Chicago Senior Care. We’ve previously spoken with David Reis, the CEO of Senior Care Development […]
Many non-profit continuing care retirement communities (CCRCs) have enjoyed getting 100% financing for their properties in the past, but that could change going forward, according to panelists speaking at SHN’s first annual Senior Housing Summit in July. LeadingAge, a non-profit advocacy group of senior living providers, says 80% of CCRCs are non-profit, and while most […]
A few high-profile bankruptcies by continuing care retirement communities have made waves in the senior housing industry, and there’s more drama to come—for at least four more years, says a New York-based owner-developer of CCRCs who specializes in acquiring distressed assets. During Senior Housing News’ inaugural Senior Housing Summit, held last Thursday in Chicago, Ill., […]
Multiple headlines in the not-too-distant past have trumpeted the struggles of some non-profit continuing care retirement communities (CCRCs) that are attributable—at least in part—to their financing structures, and there are bound to be more coming down the pike, those in the market say. But while bankruptcy has traditionally been the main option for these distressed […]
With the median age rising for entrants into the independent living portion of many continuing care retirement communities (CCRCs), providers are looking for ways to position their communities to attract younger incoming residents. Positioning communities to attract younger residents boils down to targeting a larger market space, and this can encompass a variety of methods: […]
Chicago Senior Care, LLC, a partnership between Senior Care Development, LLC, Fundamental Advisors LP, and Life Care Companies LLC, placed the winning bid on the bankrupt Clare at Water Tower, a luxury senior high rise located in Chicago’s Gold Coast. The acquisition was led by stalking horse bidder Senior Care Development, out of Harrison, N.Y., […]
After seeing that Senior Care Development, LLC had placed a stalking-horse bid on the bankrupt Clare at Water Tower, in Chicago’s Gold Coast, Senior Housing News tracked down its chief executive officer David Reis for an exclusive interview. Reis has extensive experience in senior living development, and specializes in ground-up development of large-scale continuing care […]
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