Friday, January 31, 2025
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Industry Voices

Industry Voices

Missing the Mark on Feasibility Studies

by Jeff Shaw

Factors such as age, acceptance and health should not be overlooked. By Irving Stackpole Successful congregate seniors housing development is built at the intersections of age, acceptance and health of the consumers. A thoughtful understanding of these three factors is at the heart of market analysis and feasibility studies.  While a good feasibility study does not ensure good occupancy, a poor one may lead to years of very expensive, negative consequences. Occupancy in seniors housing is driven by the demographics of age. The size of the age cohorts is critical, …

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Industry Voices

Company Profile: Blazing a New Trail

by Jeff Shaw

Watermark rises from an auspicious history to become a Top 10 operator. By Jeff Shaw When David Freshwater founded The Fountains in 1985, the widespread reinvention of assisted living was still several years away. His developments in these early days helped to set the template of what we now know as private-pay seniors housing, starting with The Fountains at La Cholla in Tucson, Arizona, in 1987. David Barnes joined Freshwater at The Fountains in 1989, developing the systems, policies and training systems that would allow the company to grow. And …

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Industry Voices

Question of the Month: Is Home Health a Threat?

by Jeff Shaw

Is home health a threat to seniors housing, an opportunity for growth or something else entirely? Home health helps By Pilar Carvajal Founder & CEO Innovation Senior Living My entire career has been dedicated to serving low- and middle-income seniors in a home-like, communal setting to help avoid premature institutionalization.  The expansion of home health will allow more people to benefit from a non-institutional setting. But home health has its limitations as a person needs more care and supervision.  We plan to expand in home health to offer more options …

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Industry VoicesTechnology

Saving Water Can Increase Interest from Capital Sources

by Jeff Shaw

By David Duckwitz, Sensor Industries A recent Seniors Business Housing article, Why So Many Investors Are Chasing Active Adult, pointed to the favorable investment trend in active adult housing. The demographics driving that trend are the 70 million baby boomers ranging in age from their late 50s to mid 70s. While the client base is there as well as the investment interest, there are some barriers to overcome. Despite the demand, there are a limited number of lenders in that space. The COVID-19 pandemic clearly played a role in reducing …

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DevelopmentIndustry Voices

Mall Redevelopments May Be One Key to the Future

by Jeff Shaw

Projects offer amenities, valuable locations and vibrant lifestyles. By Leslie Moldow One key lesson we learned from the pandemic is that just about anything we can dream is now possible if we set our minds to it, and re-examining housing, service options, and opportunities for seniors is no exception. A few years ago, Perkins Eastman undertook “The Clean Slate Project,” where we projected into the future and wiped the slate clean of traditional forms of senior living. By identifying disruptors, new competitors, and market changes, we spotlighted opportunities for new …

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Industry VoicesLegal Issues

Understand the Impact of Intangibles

by Jeff Shaw

How to use these factors to reduce a senior living property’s tax assessment. By Morris Ellison The longstanding debate over intangible value in commercial real estate taxation rages unabated, and nowhere is the squabbling fiercer than in valuing senior living facilities.  Because these properties generally transact based on income from a going concern rather than from real estate, taxpayers planning to acquire a seniors housing facility should consider how to separate intangible value prior to acquisition. Simply waiting for the annual tax bill is a recipe for incurring inflated cost …

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AcquisitionsIndustry Voices

Broker Q&A: Brokers Remain Optimistic

by Jeff Shaw

Dealmakers in seniors housing feel the effects of the industry’s pandemic-related challenges, but they see brighter days on the horizon. Roundtable participants Brooks Minford, Director, Berkadia Charles Bissell, Managing Director, JLL Capital Markets Cindy Hazzard, Broker, JCH Senior Housing Brokerage Richard Swartz, Vice Chairman, Cushman & Wakefield Jason Stroiman, Founder and President, Evans Senior Investments Brooks Blackmon, Senior Director, Blueprint Healthcare Real Estate Advisors Vince Viverito, Senior Vice President, Senior Living Investment Brokerage By Jeff Shaw The brokers in seniors housing may have the deepest knowledge of the industry. In order to link sellers with buyers, they have to understand every aspect of the …

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Active AdultDevelopmentIndustry Voices

Developers Say Active Adult Has a Bright Future, but Success Will Require Better Clarity, Marketing

by Jeff Shaw

Panelists Bob May, Managing Partner, Avenida Partners Michael Hartman, Principal, Active Adult, Capitol Seniors Housing  Michael Uccellini, President & CEO, United Group of Companies Chris Guay, Founder & CEO, Vitality Living Ryan Maconachy, Vice Chairman, Health & Alternatives Assets, Newmark (Moderator) By Jeff Shaw Active adult communities are a hot development class within the seniors housing continuum right now. One complication, though, is that the concept is much more nebulous than independent living, assisted living, memory care and skilled nursing. The National Investment Center for Seniors Housing & Care (NIC) does not yet track active adult metrics. A CBRE survey …

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Industry VoicesOperationsPeople

Question of the Month: What’s Your Staffing Situation?

by Jeff Shaw

Is your labor and staffing situation better, worse or the same as it was earlier in 2021, and why? Focus on engagement By Monica Friedman Chief HR Officer LCS We are continuing to experience staffing challenges to a greater degree than we did earlier this year. Although it varies by location, the challenge of attracting new talent to our industry remains.  We have faced increased wage pressure from staffing agencies that offer higher wages to experienced workers only to charge those higher wages back to clients. And, while most healthcare …

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DevelopmentFeaturesIndustry Voices

How to Overcome Construction Cost Increases in Senior Living Projects

by Jeff Shaw

General contractors in the senior living space have faced tough challenges in the wake of COVID. Construction material costs have fluctuated wildly, while hiring good employees has proven difficult, slowing down timelines. Seniors Housing Business spoke with Richard Lara, president of RAAM Construction Inc., about the challenges builders face in the senior living sector. SHB: Tell us a bit about your business and how much work you’ve done in the seniors housing space. Lara: RAAM Construction is a general building contracting firm specializing in multi-unit construction projects throughout California. In …

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