Budding building boom in Omaha?
When one thinks of overdevelopment in seniors housing, Omaha, Nebraska doesn’t typically come to mind right away. Nonetheless, the effects of the building boom in senior living communities may already be beginning to show in Nebraska’s largest city, with occupancy (we hear) weakening in certain parts of the city. NIC MAP also shows this trend, with penetration rates for independent living and assisted living (which often includes memory care units) at 5.3% and 8.2% respectively. According to NIC, construction for assisted living is also hot in that area, with new construction representing 13.6% of the current inventory in the area. Two Omaha-based developers have recently broken ground on... Read More »Responsible building is key these days
As a developer, owner and operator, Watercrest Senior Living Group develops its communities with the intent of being in it for the long haul. Uniquely equipped with its own internal market development team, Watercrest uses higher-income thresholds than seen in many typical market studies (with even higher income thresholds to build memory care), and approaches each site by engaging in the local community to identify its specific needs. In the high-income, master-planned community of Lake Nona in Orlando, Florida, the age and income demographics combined with there being no assisted living competition within eight miles of the site suggested the need for a high-end community. So, Watercrest... Read More »Fast fill-up at a Los Angeles CCRC
When Los Angeles hasn’t seen a new CCRC in 20 years, either there is no demand for one, or the city is starving for one. Clearly with the new Fountainview at Gonda Westside, which presold 92% of its units with 10% deposits in less than nine months, there was a need. Outbidding several other developers, Los Angeles Jewish Home for the Aging (LAJHA) secured 2.5 acres in Playa Vista, a highly-desirable, master-planned community that had already pre-zoned this land for a senior living community. Numbering at 200 units (176 IL, 12 AL, 12 MC) and 460,000 square feet in six stories, this entrance-fee, not-for-profit CCRC sponsored by LAJHA is the first on the city’s wealthy Westside and the... Read More »Top Senior Living Developments, 10/9/2014
Top Senior Living Developments Name Type Developer Cost The Springs at Monarch Landing, Naperville, IL Rehab/LTC-96, MC-28 Senior Care Development N/A Tapestry at Woodland Hills, Tulsa, OK IL-140 Avenida Senior Living/Black Oak Partners $18 million Copper Trace, Westfiled, IN SN-104, AL-36 CarDon & Associates $19 million Read More »Experienced providers get into the assisted living/memory care development market
Newcomer Avanti Senior Living is set to open its first two senior living communities in 2015, with one in Cypress, Texas and the other in The Woodlands, Texas. These two communities, both in the Houston metro area, are the first to come in Avanti’s development pipeline of seven total properties (so far) in Texas and Louisiana. While other developers out there certainly have more properties coming down the pike than this newcomer (especially in Texas), Avanti still stands out among its competitors. Co-founders Tim Hekker (who is also the CEO) and Lori Alford (COO) combined bring over 50 years of experience in the operating world of senior care and a unique perspective to the development of... Read More »Autumn Leaves develops another memory care community in Atlanta MSA
Autumn Leaves has been getting a lot of press recently, from us and other news sources, as they seem to break ground on a new community every other week or so. On September 9, The LaSalle Group announced that Autumn Leaves of Stockbridge, Georgia was set to open in October (just outside of Atlanta). This announcement comes on the heels of one of their memory care communities opening recently in San Antonio (called Stone Oak), and another San Antonio Autumn Leaves community breaking ground on September 17, to be called Autumn Leaves of Westover Hills. The community in Stockbridge will be the company’s third in the Atlanta metro area (having locations in Sugarloaf and Towne Lake as well),... Read More »Assisted living technology at its best
The opening of The Legacy at Falcon Point (scheduled for October 9) is notable for several reasons. First, it is part of an assisted living boom in Katy, Texas (a suburb of Houston). Second, it claims to be the most technologically advanced senior living community in the state. And third, it is only one piece of a large development pipeline from PinPoint Commercial, which is a developer of industrial, medical and senior housing properties across the southeast and Texas, and its operating partner, Thrive Senior Living, which operates senior living communities in Texas, Georgia and four other southern states. The 164-bed assisted living (120 beds) and memory care (44) community, which broke... Read More »Fresno, California sees a boom in assisted living development
It’s unusual to see a metro area with a population of nearly a million increase its number of assisted living units by over 30%, in a year. Nevertheless, Fresno, California is looking to add 364 new assisted living units to the city’s existing 579 units, or a 63% increase, (according to NIC MAP) by 2015. A report from Central California Institute for Healthy Aging expects the senior population aged 65 and up to grow considerably in the next five to 10 years, as seniors wishing to retire in California may see Fresno as a less expensive option compared with the rest of the state. Governor Brown recently complicated matters as well, by cutting funding to taxpayer-backed redevelopment... Read More »Senior Housing Boom in Rochester, Minnesota
The Affordable Care Act called for, in addition to many new reforms, increased continuum of care from America’s health care providers. Health systems have taken to this call to action, increasingly affiliating with other health systems or health care businesses to add a wide variety of services to their portfolios. Concerning long-term care, Rochester, Minnesota may prove to be the best example of this new type of integrated senior/medical care in the country. Fueled in large part by a 20-year, $5 billion expansion plan to Mayo Clinic, three senior housing projects are scheduled for construction or have already broken ground in the county. The Bluffs of Lake City, a $13.4 million project... Read More »Allen, TX senior care community set to break ground later this month
Christian Care Centers (CCC) of Mesquite, Texas, is set to break ground on its third senior living community in the Dallas-Fort Worth area later this month. Located in the town of Allen, the 72,000 square-foot, two-story facility will offer 32 assisted living units and 36 memory care units, as well as 22 independent living cottages separate from the main building. Once construction is complete, scheduled for August 2015, CCC will operate the facility. The community was designed by REES Architects, which has an office in Dallas, and is to be built by Adolfson & Peterson, a U.S.-based firm consistently ranking in the top 50 construction managers and general contractors in the country.... Read More »Schedule a demo
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