Seniors Housing Business

AUG-SEP 2015

Seniors Housing Business is the magazine that helps you navigate the evolution of the seniors housing industry.

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34 www.seniorshousingbusiness.com Seniors Housing Business n August-September 2015 ment project in Chicago. The company now includes 24 Senior Suites buildings, most in the city of Chi- cago. Rents for a one-bedroom apartment aver- age about $774 to $800 a month. The original projects included many studio apartments, but the newer buildings offer only one- and two-bedroom units. The fooring has been upgraded. Senior Suites of Bellwood, just outside of Chicago, opened in May. The units include wood-like laminate fooring. "The trend is to make the buildings fancier, more residential," says Lisa Reed, vice president of operations at Chicago-based Senior Lifestyle. Ryan Companies U.S. continues to refne its affordable apartment designs. Its newest project is Arbor Place of Lisle, which opened in August. Located in the western Chicago suburb of Lisle, the proj- ect features 80 units. The units are large; some two-bedroom apart- ments span 1,075 square feet. Solid surface countertops are used in the common areas. The library has built-in shelving. The vaulted two-story lobby includes a stone-faced freplace. Common areas feature chandeliers and can lights. The multi-purpose room has a wood "dance foor," and carpet tiles were used throughout to bring interest to the fooring. The private, landscaped court- yard features a gazebo. "You would never know this is affordable hous- ing," says project architect Smita Torgal of the Chicago-based frm Taylor Made Design. Aging in place poses dilemma Though senior apartments offer no services and are meant for those who are independent, operators still face the problem of residents who age in place. Seniors are desirable tenants because they pay their bills and don't tend to move very often. That helps create waiting lists and occupancies near 100 percent. But many residents eventually need some kind of help. Building owners and manag- ers admit it's a problem. Most allow residents to bring in help as needed. Those who require 24-hour supervision or medical attention usually are asked to move. Some apartment operators offer referral services to help the residents, and their families, fnd a suitable place to live that offers Arbor Place of Lisle in Lisle, Ill., features extensive outdoor landscaping and high-quality interior fnishes. "The trend is to make the buildings fancier, more residential," says Lisa Reed, vice president of operations, Senior Lifestyle Corp. Acquisition criteria: · Skilled Nursing Facilities (Real estate and operations) · Hospice Care · SNF Licences · Pharmacy Joseph Levine 718-247-9885 x1 JL@SNFventures.com Intiate Acquisition Mode . . . As a Acquisition wing of a principal Owner/Operator. You will be talking to the "Man behind the Man"

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