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InterFace Panel: Development Pushes Forward Despite Many COVID Delays

by Jeff Shaw

Seniors housing construction has continued during the COVID-19 pandemic — but perhaps not on the developers’ original timelines. “We have seen just about every obstacle thrown at us, from government shutdowns to disruptions in the supply chain to subcontractors contracting COVID to inspectors not showing up,” said Charlie Jennings, chief development officer, Harbor Retirement Associates. “Every time I start to think the worst is behind us, there’s something waiting around the corner. Unfortunately, I don’t think we’ve gotten past that hump yet.” Harbor’s current seniors project under construction is now …

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Occupancy Hits New Record Low in Fourth Quarter, Says NIC

by Jeff Shaw

ANNAPOLIS, Md. — Private-pay seniors housing occupancy in the United States decreased 130 basis points in the fourth quarter of 2020 from 82.0 percent to 80.7 percent, a record low. Since the first quarter of 2020, occupancy fell by 680 basis percentage points. That’s according to new data from the National Investment Center for Seniors Housing & Care (NIC), an Annapolis-based nonprofit firm that tracks industry data gathered from 31 primary metropolitan markets. Private-pay seniors housing comprises independent living, assisted living and memory care. “Seniors housing occupancy declines were less pronounced …

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Assisted LivingFeaturesNews

Survey: Over Half of Assisted Living Providers Won’t Survive Financially Another Year at Current Operating Pace Due to COVID-19

by Jeff Shaw

WASHINGTON, D.C. — More than half of assisted living providers say they won’t survive another year at the current operating pace due to the COVID-19 pandemic’s impact on both occupancy and expenses. That’s according to a recent survey by the American Health Care Association/National Center for Assisted Living (AHCA/NCAL), a Washington, D.C.-based association of healthcare providers. The survey polled 240 assisted living operators nationwide. Of the respondents, 56 percent said they would not survive another year, while 55 percent said they are currently operating at a loss. Nearly 80 percent …

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Seniors Housing Struggles Will Continue Through Mid-2021, Say InterFace Panelists

by Jeff Shaw

With two approved vaccines to combat COVID-19, the end of the pandemic is visible on the horizon. However, some seniors housing experts say it may be the third quarter of 2021 before the sector starts to see the turnaround take hold. “We have a much clearer picture of what the post-COVID world will look like,” said Adam Heavenrich, managing director of Heavenrich & Company. “The COVID world of 2020 will hopefully look drastically different from the post-COVID world of 2021.” The comments came during a panel titled “Investment Update: Should …

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FeaturesNewsOperations

Survey: Operators Must Talk About the Right Issues to Lure New Residents During Pandemic

by Jeff Shaw

PHILADELPHIA — While seniors may still have a high interest in moving into seniors housing communities, it’s crucial that sales teams hit on certain difficult topics in a world shaped by the COVID-19 pandemic Philadelphia-based marketing firm LevLane Inc. and MarketVision Research Inc. conducted a research study of 250 adults over age 65. The study found that 64 percent of those surveyed who had been considering a move to a senior living community pre-COVID were still interested in moving into a community within the next five years, and of those …

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Survey of Sunrise Residents, Families Shows 92 Percent Plan to Request COVID-19 Vaccine

by Jeff Shaw

MCLEAN, Va. — A recent survey of Sunrise Senior Living residents and families found that more than 92 percent of respondents would “definitely” or “probably” request the vaccine for themselves, or their loved ones. This data point is one of several findings in a recent survey powered by Qualtrics with more than 8,000 respondents. According to Pew Research Center, only 60 percent of all Americans said they would definitely or probably get a vaccine to prevent COVID-19. McLean-based Sunrise recently announced that its senior living communities, which offer assisted living, …

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Seniors Housing Business Receives NAREE Award for Affordable Seniors Housing Article

by Jeff Shaw

The National Association of Real Estate Editors (NAREE) has awarded Seniors Housing Business with an award for its writing on the affordable seniors housing sector. The association’s 70th annual journalism awards were held last week, the first of the event to be held virtually. During the event, the Seniors Housing Business article “Overwhelmed” won a bronze award for Best Commercial Real Estate Trade Magazine Story. The article dives into the level of affordable housing for seniors currently available, and how the issue is likely to get worse before it gets …

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FeaturesNewsOperations

Operators Plan for Logistical Complications of COVID-19 Vaccine Rollout

by Jeff Shaw

Now approved for use in the United States, the first round of COVID-19 vaccines has officially landed. Employees and residents in assisted living and skilled nursing communities are in the first group slated to receive the immunization. While this is a strong sign that an end is on the horizon for a pandemic that has disproportionately affected seniors housing, it comes with a new challenge. Operators must now find a way to handle the complicated logistics of implementing the vaccine to millions of caregivers and residents. “It’s the first sign …

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FeaturesNewsOperations

COVID-19 Forces a Shift in Sales Strategies, Say Exclusive Webinar Panelists

by Jeff Shaw

The seniors housing industry continues to face new challenges as a result of the COVID-19 pandemic. But there are reasons for hope. A recent survey conducted by marketing and client acquisitions firm LeadingResponse showed that 90 percent of prospects are still considering moving into seniors housing. Over 60 percent felt they had a good understanding of the costs of seniors housing and the programs available to make it more affordable. The survey, sent out in September, polled more than 2,000 seniors and their adult children who had already expressed an …

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Pandemic Construction Slowdown May Ease Overbuilding Concerns, Say InterFace Development Panelists

by Jeff Shaw

Seniors housing developers have noted that both debt and equity have become difficult to secure as a result of the COVID-19 pandemic. Lenders are providing much lower leverage on loans, and many capital partners are staying on the sidelines until the full effects of the virus have passed. But there may be a silver lining to the halt in new construction. Before the pandemic, an influx of new supply was driving down occupancy. Those oversupply concerns may have come to an end. “We needed to have a pause in new …

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