With construction costs rising and the supply of talented staff diminishing, doing business has never been more expensive for seniors housing developers. As such, both developers and operators are seeking new ways to save money. Increasingly, these groups are considering the role design plays in their projects, with a particular emphasis on identifying design concepts and elements that save on the bottom line without compromising the property’s sense of livability.
News
ST. LOUIS — Ascension Living, the seniors housing and services arm of nonprofit Catholic healthcare system Ascension, has promoted Gayle Trupiano to president and CEO. Trupiano will assume the role on Sept. 11 and will oversee the company’s 37 communities in 10 states and Washington, D.C.
IRVINE and SAN CLEMENTE, Calif. — Two major healthcare REITs — Irvine-based HCP Inc. (NYSE: HCP) and San Clemente-based CareTrust REIT Inc. (NASDAQ:CTRE) — have separately announced that none of their properties in Texas received any significant damage due to Hurricane Harvey. However, HCP did note that three of its seniors housing communities were evacuated. CareTrust evacuated one property as well.
The Congress Cos. to Break Ground on $60M White Plains Institute for Rehabilitation & Healthcare
by Jeff Shaw
WHITE PLAINS, N.Y. — White Plains Healthcare Properties I LLC has selected The Congress Companies as developer and the joint venture Congress/Consigli JV as the construction manager for the 110,000-square-foot White Plains Institute for Rehabilitation & Healthcare.
TAMPA and OVIEDO, Fla. — Aztec Group Inc. has arranged $5.1 million in loans to refinance two memory care communities, each totaling 20 units, in Florida. The borrower is a joint venture between Mayan Properties, Facility Investments and National Healthcare Associates.