Florida-based senior living developer/operator, Harbor Retirement Associates, has a plan to open a new assisted living/memory care community nearly every month in 2018, a tall order for any operator or developer. HRA will start the year by opening a community each in Jacksonville, Florida, and Long Grove, Illinois (Chicago MSA) in January. Then, throughout the year, the company has grand openings planned in Delaware, Ohio, South Carolina, Florida and Virginia, bringing the 2018 total to 10 new communities. And that’s following the three communities HRA opened recently in McKinney and Southlake, Texas and Palm Beach Gardens, Florida.
Operationally, opening 10 communities in a year is hard enough, but HRA isn’t alone in their development plans (particularly in Florida and Texas). We all know the problems that increasing competition brings (from labor costs to rent reductions), so we hope that any feasibility studies took that into account.
