Six residents at Vi at Palo Alto are still waiting to see if the lawsuit they filed, claiming lost peace of mind regarding the financial stability of community, will be certified as a class action. They’re suing over concerns their continuing care retirement community entrance fees won’t get refunded, writes the New York Times’ The […]
Vi Retirement Communities
In case you missed it… here are the top five headlines grabbing SHN readers’ attention this week. Vi Residents Sue Over CCRC Entrance Fees—A class action lawsuit filed by some of Vi Retirement Living’s California-based residents takes issue with the way CCRC entry fees are used and accounted for in cases where residents or their […]
A class action lawsuit filed recently in California is raising questions about the way continuing care retirement communities handle entrance fees in cases where residents or their estates are eventually repaid a portion of the upfront fee. Residents of Vi at Palo Alto allege in a complaint that Vi (formerly Classic Residences by Hyatt) transferred […]
When it comes to issues that keep senior living providers up at night, training is at the top of the list, agreed executives at the 2013 annual NIC conference, especially as it’s tied so closely to care. A huge component of quality care is staff training, the participating executives said, and many providers are already […]
Construction: Planned Developer Plans $79 Million New Mexico CCRC Colorado-based developer GlobalWorks plans to build a $79 million continuing care retirement community (CCRC) in Bloomfield, New Mexico, reports The Daily Times of Farmington, NM. The 18-acre project called WaterFall Living Community would feature 253 residences that include a mix of independent living, assisted living and hospice […]
Construction: Planned Vi Looking to Spend $5.1 on Illinois Retirement Community Expansion CC-Lake Inc., a licensee of Vi Living, is looking to expand an Illinois retirement community, Vi at the Glen, in a $5.1 million project, according to an application filed last week with the Illinois Health Facilities and Services Review Board. The project would […]
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., […]
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