IRVING, Texas — Greystone, a senior living consulting firm based in Irving, has partnered with LeadingAge, the association of nonprofit providers of aging services, to provide a portal for member stories to be gathered, organized and published across multiple media platforms, both in the industry and beyond. The tool, located on the LeadingAge website and powered by Greystone, provides LeadingAge members the opportunity to share their responses — written or oral — to a prescribed prompt, which will be updated monthly. The purpose is to highlight a diverse range of …
NASHVILLE, Tenn. — Brookdale Senior Living Inc. (NYSE: BKD) has reported that occupancy across its portfolio has increased for three straight months, signaling a start to the recovery from the COVID-19 pandemic. Occupancy at the end of each month rose from 70.1 percent in February to 70.6 percent in March, 71.1 percent in April and 71.6 percent in May. The Nashville-based company managed 695 communities in 42 states as of March 31.
The seniors housing industry has been through the wringer as a result of the pandemic, setting and then resetting its own record-low occupancy rates as expenses increased for infection control, staffing and construction materials. However, many in the industry are now starting to see the light at the end of the tunnel. The skilled nursing sector has undergone two straight months of rising occupancy rates, and industry experts are seeing the effects of the COVID-19 vaccine taking hold on the industry. “It’s not back to where it was, and it …
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Post-Pandemic Considerations for Acquisitions and Renovations
By Sarah Daniels Planning ahead is never easy, but in the world of senior living construction, acquisitions and renovations, it makes everything that follows easier — and often more cost effective in the long term. The need to future-proof seniors housing has taken on new significance in the face of COVID-19 and will continue to be a priority to help prospective and current residents feel safe physically, mentally and emotionally. With seniors housing occupancy rates down, creating a strong, upfront plan for long-term goals incorporating trends in design, wellness and technology …
CHICAGO — Fifty-one percent of senior housing properties experienced no COVID-19 deaths in 2020, according to an analysis by NORC at the University of Chicago via a grant provided by the National Investment Center for Seniors Housing & Care (NIC). Researchers analyzed data for four facility types in more than 100 counties across five states. About two-thirds (67 percent) of independent living properties, 64 percent of assisted living properties, and 61 percent of memory care properties studied experienced no COVID-19-related deaths in 2020. Thirty-nine percent (39 percent) of skilled nursing …
CHICAGO — Although the seniors housing industry still faces many challenges, long-term demand still has the sector on a trajectory of growth. That’s according to JLL Valuation Advisory’s fourth annual Seniors Housing Investor Survey and Outlook, released last week. Construction delays resulting from the pandemic will magnify the long-term supply shortage, the report notes. With the baby boomers within approximately 10 years of occupancy, medium- and long-term investment remains positive. Additionally, the need to serve the middle-income population will continue to grow, exacerbated by the global impact of COVID-19. “Investors …
WASHINGTON, D.C. — The American Seniors Housing Association (ASHA), a D.C.-based advocacy organization for the seniors housing industry, has announced the 2021 inductees to the Senior Living Hall of Fame: Carl Campbell of CAMLU, Robert and William Thomas of Senior Star and Patricia Will of Belmont Village Senior Living. “These innovative leaders have helped to build an industry dedicated to the care of our elders,” says David Schless, president of ASHA. “We are very grateful to them and their commitment to senior living.” The 2021 Senior Living Hall of Fame …
By Fahad Aziz, Chief Technology Officer, Caremerge “Incidents” in assisted living and memory care communities aren’t always one-off falls. They can be key indicators of a developing health pattern or wider community risk. Late-night wandering could be an early sign of dementia; an upset stomach could be a symptom of food poisoning; a stumble in the bathroom could mean rooms need better accessibility design. That’s why reporting incidents promptly and thoroughly is essential for more effective and personalized care for older adults — not to mention it’s required by law. …
Seniors housing technology has long been focused on health and safety — keeping residents safe from falls, managing medicines and addressing health changes that require a doctor’s oversight. But the future of seniors housing may lie more in the direction of holistic wellness — personalized nutrition, evidence-based decision-making for increasing or decreasing medical interventions and better resident experiences. Over the next decade, data will be the driving force for communities that embrace wellness goals, according to Derek Ross, CEO, Aging and Caregiving at Philips. “There is a huge opportunity to …
Development activity in the seniors housing sector has slowed greatly as a result of the COVID-19 pandemic. New construction as a percentage of existing inventory fell from a high of 7.3 percent in the fourth quarter of 2017 to 4.9 percent in the first quarter of 2021, according to the National Investment Center for Seniors Housing & Care (NIC). This deceleration is due to a combination of factors: Occupancy hit record lows, meaning new product wasn’t needed; Lenders became very hesitant to loan on new, ground-up construction; Construction material costs …