Wednesday, February 26, 2025
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Jeff Shaw

CCRCDevelopmentNewsVirginia

LifeSpire Plans $80M Expansion at The Summit in Lynchburg, Virginia

by Jeff Shaw

LYNCHBURG, Va. — LifeSpire of Virginia has announced plans for an $80 million expansion of The Summit, a continuing care retirement community in Lynchburg. Although the number of units was not disclosed, the company says the project will “create dozens of new residences” via 18 cottage homes and multiple villa options, as well as a new memory care neighborhood. The nonprofit LifeSpire of Virginia, which acquired The Summit in late 2021, plans to complete the expansion over the next 24 months. As Virginia’s senior population swells to an expected 2.2 …

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Assisted LivingGeorgiaNewsOperationsPeople

Isakson Living Names Hayden Herrick as Executive Director of The Terraces at Peachtree Hills Place in Atlanta

by Jeff Shaw

ATLANTA — Isakson Living has named Hayden Herrick as executive director of assisted living and memory care at The Terraces at Peachtree Hills Place, which provides assisted living, memory care, skilled nursing and short-term rehabilitation in a luxury residential community for those 55 and older in the Buckhead neighborhood of Atlanta.  Herrick will be responsible for daily operations, including management, staffing and regulatory compliance. He will report to Greg Heath, who served as interim executive director of assisted living and memory care for The Terraces at Peachtree Hills Place concurrently …

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Affordable HousingDevelopmentFloridaNews

SG Holdings Opens 578-Unit Affordable Community at Sawyer’s Walk in Miami

by Jeff Shaw

MIAMI — SG Holdings, a partnership between Swerdlow Group, SJM Partners and Alben Duffie, has completed the housing component of Sawyer’s Walk, marking the delivery of the largest affordable senior living community in the US within the last decade, according to the developer.  The mixed-use development is underway in the Overtown neighborhood of Miami. Upon full build-out it will total 1.5 million square feet, including the 578 residential units completed that will be home to low-income seniors, 175,000 square feet for credit retailers, a 25,000-square-foot public plaza, and 130,000 square …

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AcquisitionsAssisted LivingFloridaNews

Berkadia Negotiates $42.6M Sale of Four-Property Portfolio in Florida

by Jeff Shaw

TAMPA, Fla. — Berkadia has arranged the sale of a four-property, 334-unit assisted living and memory care portfolio along Florida’s West Coast.  Brooks Minford of Berkadia Seniors Housing & Healthcare closed the transaction on behalf of two separate sellers. The buyer of all four properties, a Central Florida-based family office, paid $42.6 million for the acquisition. In the first transaction, a Florida-based seniors housing and multifamily developer sold one 79-unit assisted living and memory care community. In the second transaction, an East Coast-based private equity firm sold three assisted living …

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CCRCDevelopmentNewsVirginia

LifeSpire Breaks Ground on $25M Expansion at The Glebe in Daleville, Virginia

by Jeff Shaw

DALEVILLE, Va. — LifeSpire of Virginia has broken ground on a $25 million expansion project at The Glebe, a continuing care retirement community in the Roanoke suburb of Daleville. The project will add a total of 22 new cottages will to the campus. These new residences are specifically designed to allow seniors to age in place. The first set of cottages is expected to open in early 2025.  U.S. Census data shows that persons older than 60 years of age account for 28 percent of the overall population in Roanoke …

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Affordable HousingCaliforniaDevelopmentNews

USA Properties, Riverside Charitable Corp. Start Construction of 166-Unit The Orion Affordable Project in Orange, California

by Jeff Shaw

ORANGE, Calif. — USA Properties Fund and Riverside Charitable Corp. have started construction of The Orion, an affordable seniors housing community in Orange. The Orion will offer 166 affordable one- and two-bedroom apartments with energy-efficient appliances, lighting insulations and windows, as well as low-flow faucets, shower and toilets. Additionally, some apartments will include a balcony. The Orion will be available to seniors age 55 years and older who earn 30 percent to 70 percent of the area median income for Orange County. USA Properties Fund will manage the community.The City …

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DevelopmentFrom The Magazine

Development Lessons from Abroad 

by Jeff Shaw

Some foreign countries have taken groundbreaking approaches to seniors housing, from innovative memory care concepts to large-scale luxury communities capitalizing on economies of scale. By Jeff Shaw Although private-pay seniors housing may be considered a niche asset class in the United States, it features a scale, maturity and sophistication that far outpaces the industry in other countries. But that scale means that parts of the industry are standardized. Innovations are happening in other parts of the world that still have fresh eyes for this type of housing — innovations that …

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From The MagazineLegal Issues

Legislative Onslaught Galvanizes Industry

by Jeff Shaw

As the regulatory environment in the seniors housing and skilled nursing sectors becomes increasingly burdensome, leading advocates are pushing back on multiple fronts. By Jeff Shaw Seniors housing has always been a hot-button issue and a target for government regulation, given its role in caring for a vulnerable population of seniors with healthcare needs. Even by that standard, though, there are a lot of legislative challenges coming down the pike for owners and operators. • Sen. Bob Casey (D-Pa.), chair of the U.S. Senate Special Committee on Aging, held a …

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AcquisitionsIndustry Voices

The Acquisition Window of Opportunity Is Open — But Not for Long

by Jeff Shaw

By Clay Decker The landscape of the real estate industry has been fraught with many challenges over the last several years. From the strain of high interest rates and construction costs to the tightening grip of financial market conditions, many developers have found themselves navigating treacherous waters.  Yet, while some have struggled to traverse the complexities of the market, others have found opportunities by leveraging their adaptability and foresight. Let’s explore the current market dynamics and outline strategies for real estate professionals to capitalize on the window of opportunity in …

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Company NewsFrom The MagazineOperations

Company Profile: A Holistic Approach to Care

by Jeff Shaw

Lifespark seeks to create a comprehensive healthcare system for seniors that takes wellness into account. By Jeff Shaw The executives at Lifespark want to make something extremely clear: It is not a seniors housing company. Seniors housing is simply one element in its larger plans to revolutionize healthcare for seniors. Based in the Minneapolis suburb of St. Louis Park, Lifespark has over 3,000 employees and serves over 30,000 seniors throughout Minnesota and Wisconsin. But that 30,000 number comes despite having only 3,256 seniors housing units. The rest are served through …

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