Industry Voices

Residents require spaces that are well finished, but take unique needs into consideration. By Melissa Banko There are plenty of misconceptions around interior design and even more so in the world of senior living design. As someone with 15 years of experience in this industry, I’m here to dispel some of the more pervasive myths I hear and drop a few tips along the way. Senior Living is Just Multifamily for Old People Let’s clear the air from the get-go. Multifamily, hospitality, and senior living design are three completely different …

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Making a partner of your municipality can smooth over many challenges. By Chad Suitonu The hardest thing about senior living development is finding the right land. Many of the good spots are already taken and competition is fierce for the remaining.  But when you have found the sweet spot — that site that has the right demographic demand, limited competition, barriers to entry and a feasible price — you’ll likely still have some obstacles to overcome with the city to get your project built.  Not only must you ensure that …

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From hotels to dining services to chief executive, industry veteran now takes over the reins of a mid-sized, regional operator. By Jeff Shaw Earl Parker knows what it means to grow. In his tenure with three seniors housing operators, he’s seen it firsthand. At Kisco Senior Living, his introduction into the sector in 1995, the company expanded from two to 24 buildings while he served as regional vice president of operations. At Bell Senior Living, the company grew from eight to 22 properties in just two years during his tenure …

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Although the pandemic tested the systems, many lenders actually provided more capital in 2020 than in previous years. Roundtable Participants: Mike Taylor, Senior Vice President, Head of Healthcare & Capital Markets, First Midwest Bank Sarah Duggan, Senior Director, Seniors Housing & Healthcare Lending, Synovus Lawrence Brin, Managing Director, Head of Healthcare Real Estate, MidCap Financial Services Eric Smith, CEO, Managing Partner, Locust Point Capital Ashish Shah, Managing Director, MONTICELLOAM LLC   By Jeff Shaw While COVID-19 has caused a wide variety of struggles for the seniors housing industry, capital has …

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What hurdles does the industry still have to clear before we see occupancy and revenue rebound?   Show our resiliency By Valerie Whitman Vice President of Senior Living LeadingResponse We are a resilient industry. We need to always be sure we show that to the world. As we saw in the last year, our industry was constantly being portrayed as a place where COVID thrived. This information shook consumer confidence and further created misperceptions of truly how safe our communities are. Our hurdle and opportunity is to be transparent and …

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As the senior population increases and construction costs continue to rise, redevelopment may become a key to success. By Todd Hudgins, Senior Vice President of Senior Living, ERDMAN While some developers can still execute on a low-cost basis in a middle-market demographic, it’s harder to make these projects pencil out. Coordination of the land cost, site preparation, design fees, construction budget and schedule must be in sync with each other to maintain a low-cost project. Consider the recent American Seniors Housing Special Issue Brief. It reports that construction costs continue to …

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Journey of nonprofit executive leads her all the way from college music major to receptionist to CEO. By Jeff Shaw Terri Cunliffe truly got in on the ground floor. Her first job in seniors housing was as a receptionist in the 1980s after quitting college, where she majored in music. Her administrator saw Cunliffe’s potential and encouraged her to return to school and work on a new degree that would be more befitting a career in seniors housing. The rest, as they say, is history. Cunliffe came back to the …

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Seniors housing designers must consider operations, programming and trends. By Dean Maddalena It’s important to understand how the interior design industry responds to changes and challenges. These external demands provide designers with opportunities to think in creative ways to satisfy conventional and emerging requirements. For over 15 years the design teams at StudioSIX5 have gathered to discuss the design, cultural and operational issues that have arisen and begun to take hold in the senior living vernacular. In addition to senior living, they look to the allied fields of hospitality, multifamily …

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Given the financial pressures of COVID-19, should the industry prepare for an influx of distressed assets?   The buck will eventually stop By Aron Will Co-Head, National Senior Housing CBRE Capital Markets There could certainly be some distress in our sector come third- or fourth-quarter 2021, driven by borrowers that aren’t particularly well capitalized and don’t have the staying power to weather the storm. The majority of banks have provided relief (lax covenants, maturity extensions, etc.), but the buck will stop at a certain point. Many forget that the sector …

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COVID-19 broke seniors’ trust, and successful communities must repair it. By Raj Shah, CareSafely Running a seniors housing business is an inherently risky proposition. As an operator, you are trusted with caring for residents and patients with complex and persistent medical, physical and psychological conditions. Residents (current and future) and their families place significant trust in your organization to have appropriate safety processes and systems in place. In their minds, safety is non-negotiable. Food menus, building décor, amenities and social activities are all second-order priorities compared to basic safety. The …

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