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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www.seniorshousingbusiness.com 47 August-September 2015 n Seniors Housing Business ing Institute. The Bernard Osher Foundation sponsors educational programs for older adults at 119 higher education institutions throughout the country, and retire- ment communities often tap into these programs. Some of UCLA's Osher classes are even held at the Belmont property. At Berkeley, alums and retired professors spearheaded the new project, according to Patri- cia Will, president and CEO at Houston-based Belmont. They were familiar with Belmont's UCLA project and wanted some- thing similar in Berkeley. Even so, it was not automatic that Belmont would be chosen as the developer. The process included a request for proposal that outlined Belmont's plans, says Will. Belmont was eventually selected as the developer, but Will notes that it took fve years of navigating through obstacles before construction began. The obstacles included fnding land near or on the campus, winning municipal approvals and working out the affliation agreement with the university. "It takes a lot of persistence," says Will. The extended pre- development period also resulted in higher costs. Andrew Carle is executive-in- residence for the Program in Senior Housing Administration at George Mason University (see sidebar, page 46). Even though the Washington, D.C.-based school has a vested interest in the sector, Carle has been unable to fnd land for a retirement project near cam- pus. "We don't have a retirement community here," he says. "But it's not for lack of trying." Navigating school bureaucra- cies takes time and patience, say developers. Universities and colleges usually have many layers of administrators and boards that must approve the project or even a loose affliation agreement. "The major obstacle is the slow- ness of the university administra- tion to get on board," says Badler, who conducts project feasibility studies for schools. In conversations with Badler, university presidents generally hope to attract younger seniors who can be actively involved in campus life rather than those who might need assisted living or nurs- ing care. That preference of universities could foretell a shift in demand to more seniors housing on campus that does not include healthcare. "We think there will be more active adult communities on campus than CCRCs," says Badler. New editions Meanwhile, existing campus communities are expanding and updating their facilities. The Forest at Duke, a CCRC near Duke Uni- versity in Durham, N.C., recently added 15 new cottages that are already sold out. The community is also undergo- ing a $10.5 million renovation that includes a new community center, ftness center, new dining venues and upgrades to the theater, includ- ing a "hearing loop" — a system that improves sound quality. The non-proft Kendal Corp. — guided by Quaker principles such as equality, integrity and commu- nity — provides a number of ser- vices to its 12 affliated communi- ties, which are all CCRCs connected to a college in some way or fashion. "Every Kendal community is going through a transformation," says Sean Kelly, director of devel- opment at Kendal and incoming president and CEO of the orga- nization based in Kennett Square, Pa. "We must meet new demand and accommodate changing preferences." A major expansion is currently underway at Kendal at Ithaca, near Cornell University and Ithaca College in New York State. The $29.3 million expansion includes n A new independent-living 24-unit apartment building with high-end fnishes; n A new skilled nursing center, increasing the number of rooms from 35 to 48, with a residential feel including a central kitchen, dining and living room, and adjoining outdoor space; n A new central entrance and reception area; n A new casual café and ftness center; n The renovation of dining venues, common areas and other rooms; n Improvements to the outside areas, including new walking paths, outdoor courtyards, patios and parking lots; n The use of Leadership in BUILDING VALUE THROUGH EXPERTISE www.gracemanagement.com 763.544.9934 An Affiliated CPF Living Communities Company • Specialized Management/Marketing • Turnaround Specialists • New Development • Receivership/Loan Workouts • Operational and Marketing Audits Isn't it time you leverage our years of experience and innovative approach to enhance your value? Our expertise in creating rewarding and caring environments for both associates and residents enables us to make a difference in the lives we touch while providing consistent returns for our investors. A student at Lasell College interacts with a resident of Lasell Village, a continuing care community on campus. Successful communities integrate students and seniors, experts say.

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