MorseLife’s $150 million Expansion
MorseLife, a not-for-profit provider of senior care and housing at its campus in West Palm Beach, Florida, is currently undergoing a four-phase $150 million capital expansion project called The Campaign to Transform MorseLife. The company embarked on the campaign in 2010, and has so far raised about $25 million, with more to come from individual philanthropists. Two phases have already been completed, including the addition of a short-term rehab facility that houses 120 beds and a significant renovation of the campus’ 160-bed long-term care building. MorseLife has already commenced construction on a new 82-unit assisted living/memory care building that is set to open in May 2015. Finally,... Read More »LCB Senior Living fast expanding in New England
Few are talking about New England during this seniors housing development boom. In the Northeast, there are more barriers-to-entry, more existing product and more expensive land, in sharp contrast to a region like the Southwest where construction is fast leading to overdevelopment in some areas. But with a higher income population, an aging product and less competition for brand new communities, some developers have big plans in New England. According to our database, Epoch Senior Living has three “Bridges by EPOCH” communities under construction and set to open in summer 2015 in Connecticut. Benchmark Senior Living has been a consistent builder in New England, with two communities opening... Read More »Celebration, indeed, for one Florida developer
When there’s no senior living community within 15 miles of a town with an aging, well-off population, opportunity’s knocking for the first developer to get in there. That was case for Richard Ackerman, founder of Big Rock Partners, a private real estate investment management firm based in Beverly Hills, California and Delray Beach, Florida that invests in and develops a wide variety of commercial real estate. Ackerman, before founding Big Rock in 2004, previously worked at Apollo Real Estate Advisors and Crocker Realty Trust specializing in development and ownership of office buildings and other commercial and residential real estate. Recently, Ackerman bought land in Celebration, Florida... Read More »Aging Maine
Mark Eves, the Democratic Speaker of Maine’s House of Representatives, released a report recently that showed a growing issue in Maine: that the state with the oldest population did not have enough adequate housing for its growing senior population. Maine already has the oldest population based on median age (44 years), and by 2030, one in four of Maine’s residents will be 65 or older. While the state’s Baby Boomers still have a ways to go before they need senior care, 17% of the state’s population is 65 and older, second only to Florida with 18%, according to the U.S. Census. If construction for seniors housing is so hot in Florida, what about Maine? In our seniors housing construction... Read More »Schedule a demo
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