Author

Jeff Shaw

CCRCFrom The Magazine

No Margin, No Mission

by Jeff Shaw

Nonprofit providers consolidate, grow cautiously and seek efficiencies to continue serving seniors. By Jane Adler Nonprofit senior living providers face the same market forces as their for-profit counterparts, but nonprofits are putting their own spin on how to address operational challenges while fulfilling their mission.  Operating margins have been squeezed and consolidation among nonprofits is an ongoing theme. The organizations hope to realize the benefits of scale to reduce costs and boost productivity. Mease Life, for example, completed its affiliation with Acts Retirement-Life Communities in October 2023. Based in Dunedin, …

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Industry VoicesTechnology

It’s Time for Providers, Aggregators to Come Together

by Jeff Shaw

By Stephen Anderson Let’s say the quiet part out loud: providers and aggregators just aren’t friends.  In theory, the relationship between aggregator and provider is mutually beneficial, funneling prospective families right to the doorstep of communities that have spaces to fill. It’s a common and attractive route to growth that’s been proven to work in countless industries. From travel to real estate to insurance, marketplaces for high-value, experiential products exist for a very simple reason: They make the discovery process easier for consumers. A recent Seniorly study revealed that almost …

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DevelopmentIndustry VoicesOperations

Opening a Community Takes More Than Meets the Eye

by Jeff Shaw

Make sure the operator and general contractor work together as residents move in. By Chad Suitonu You, as the owner/developer of a brand new senior living community, just finished the grueling construction effort. Now it’s time to hand the building over to your senior living operator and sit back and make some rent money.  But wait a second — your job as owner is not over yet. You’ll be involved with the project for months to come as the operator (specifically the executive director and facility manager) take over the …

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Industry Voices

The SHB Interview: Fee Stubblefield, Founder, CEO, The Springs Living

by Jeff Shaw

Executive with diverse background leverages a family history of hospitality to serve residents. By Jeff Shaw Fee Stubblefield’s resume definitely will make a reader do a double take. He owns a hot springs resort, is a cattle rancher, is on the verge of publishing his first book and is founder of a seniors housing firm that develops, owns and operates communities — all with no college degree. Stubblefield grew up helping with the family business, Lehman Hot Springs, a resort approximately 250 miles east of Portland in Umatilla County, Oregon. …

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Company NewsDevelopmentFrom The Magazine

Confluent Builds for the Future

by Jeff Shaw

With a $500 million pipeline, the developer is one of the few currently working on ground-up construction projects. By Jeff Shaw With borrowing rates at a 20-year high, the cost of construction extremely high in its own right, and suitable development sites becoming harder and harder to find, very few seniors housing builders are breaking ground right now. In the private-pay seniors housing segment, year-over-year inventory growth nationally was 1.3 percent in the third quarter of this year, according to NIC MAP Vision. That figure is near the smallest year-over-year …

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FinanceFrom The Magazine

HUD Lenders Take Business Decline in Stride

by Jeff Shaw

Deal volume in the Section 232 program fell 3 percent to nearly $2.87 billion in FY 2023, but signs of a rebound emerge. By Matt Valley Considering the body blows the seniors housing industry absorbed coming out of the COVID-19 pandemic — including a spike in interest rates, inflation and labor issues that negatively impacted net operating income — deal volume in HUD’s Section 232 healthcare mortgage insurance program for fiscal year (FY) 2023 was solid, say lenders. Annual lending volume decreased 3 percent to nearly $2.87 billion, while the …

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Industry Voices

Question of the Month: Industry Recovery Process

by Jeff Shaw

Where is the industry currently at in the recovery process? A period of soul searching By Talya Nevo-Hacohen Chief Investment Officer Sabra Health Care REIT The industry is well into its occupancy recovery, but margin recovery is still out of reach. Emerging out of the economic challenges of the pandemic, the industry is confronting dislocation in the capital markets and shifts in valuation that are not temporary. And finally, the industry is trying to figure out how to be relevant to the baby boomer generation, which will demand customized experiential …

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Affordable HousingDevelopmentMassachusettsNews

WinnDevelopment Starts $55.3M Adaptive Reuse of Historic Mill Complex in Western Massachusetts

by Jeff Shaw

HOLYOKE, Mass. — WinnDevelopment has broken ground on a $55.3 million adaptive reuse transformation of a long-vacant, historic mill complex that will be transformed into 88 affordable apartment homes for seniors age 55 and older. The project is located in Holyoke, a suburb of Springfield. The redevelopment at the Appleton Mill property in downtown Holyoke will create new loft-style apartments in three interconnected, 111-year-old industrial buildings that were once home to the Farr Alpaca Co. and have been vacant for decades. In addition, WinnDevelopment will construct a new community building …

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Assisted LivingDevelopmentNewsVirginia

The Virginian Opens New Assisted Living Wing as Part of $67M Renovation

by Jeff Shaw

FAIRFAX, Va. — The Virginian, an independently operated continuing care retirement community in Fairfax, has opened the second phase of the community as part of a $67 million renovation.  The renovated seven-story, 367,000-square-foot buildings will feature four wings, comprising 155 independent living apartments, 56 assisted living residences and 36 memory care units, along with 81 skilled nursing beds. Nestled on over 32 wooded acres along the Accotink Creek of the Potomac River, The Virginian stands out as one of the few senior living communities in the area.

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Affordable HousingCaliforniaDevelopmentNews

Community HousingWorks Opens Portola Senior Apartments in Lake Forest, California

by Jeff Shaw

LAKE FOREST, Calif. — Community HousingWorks (CHW) has opened Portola Senior Apartments, an affordable housing community in Lake Forest.  CHW’s first community in Orange County, Portola Senior Apartments is built as a standalone, four-story building with ground-floor retail space. The building features 58 one-bedroom apartments (including one designated for an on-site property manager) for singles or couples age 62 years and older who earn 50 percent of the area median income (AMI) or less, which is approximately $50,000 per year. Over 750 people applied to live in Portola within three …

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