Seniors Housing Business is the magazine that helps you navigate the evolution of the seniors housing industry.
Issue link: https://seniorshousingbusiness.epubxp.com/i/484276
ABOUT SABRA ■ Operator-friendly focus coupled with extensive healthcare industry experience. ■ Vision to deliver a healthcare environment that suits the needs of today and tomorrow's senior housing and post acute residents and patients. ■ A goal to provide operators and developers structured capital solutions that fi t their individual needs. ■ Sabra, a premier capital partner for healthcare developers and operators. Sabra Health Care REIT, Inc. (888) 393-8248 www.sabrahealth.com PREMIER CAPITAL PARTNER FOR HEALTHCARE DEVELOPERS AND OPERATORS Co-housing A do-it-yourself approach to aging in place Sometimes described as the "anti-seniors housing model," co-housing is an idea that may not have broad appeal, but it does have intense support among a certain segment of retirees. Co-housing communities are small, tightly knit enclaves whose residents rely on each other for companionship and help. Though they live in separate residences, they often eat some meals together and share certain values or interests. "It's a do-it-yourself kind of approach to aging in place," says Jim Leach, a Colorado-based devel- oper of co-housing projects. "It appeals to people who are proactive about aging." Leach describes traditional retirement com- munities as something like a cruise ship where everything is provided. "Co-housing is a different animal," notes Leach, who lives at Silver Sage, a 16-home co-housing project for seniors in Boulder, Colo. "The real advantage of co-housing is the way it connects neighbors on a deeper level." The co-housing developments by Leach are condominiums. Residents own their units. He's currently working on a co-housing project in Boul- der that includes six single-family homes around a park with prices starting at $1.2 million. ElderSpirit is a co-housing project in Abing- don, Va., launched by a former group of nuns about nine years ago. The community features 16 low-income rental units and 13 market-rate owner- ship condos. Rents start at approximately $350 per month for apartments. Prices for the condos begin at about $150,000. The project also includes a com- munity house where residents share meals twice a week and gather for meetings. "This is a community of mutual support and late-life spirituality," says Dene Peterson, founder of ElderSpriit. "There's no religion, but residents are fguring out what their life is and what they want it to be." Residents take care of them- selves and each other. One resident over the age of 90 still cleans her own apartment and also serves on the recycling committee. When a resident gets sick or needs help, the others pitch in. "We do all our own work," says Peterson. "People have to be useful here." Seniors housing developers should take a look at co-housing, says Leach. Co-housing tends to attract younger residents than traditional retire- ment communities where the average age of resi- dents is rising — a nagging issue for the industry. "It might offer some market diversity," says Leach. — Jane Adler and a reading room. The second foor features a bistro restaurant and beauty salon, and the third foor includes a ballroom and auditorium. Programming at Vinson Hall centers on special military pro- grams, such as visits to nearby Fort Myer and Henderson Hall, historic military posts. Guest speakers and the Marine Corps Band make regular appearances at the community. "We try to keep our residents in contact with what is going on with the mili- tary," says Martin. Rebranding makes a diference While niche communities hone their approach, traditional reli- gious projects are widening their appeal. Most communities admit residents of other faiths. And, in the last few years, a number have even changed their names to redefne their missions. For example, Rowntree Gardens changed its name from Quaker Gardens Senior Living last September. The name change was part of a rebranding and renovation program at the com- munity located in Stanton, Calif. The project opened in 1965 as ". . . residents are fguring out what their life is and what they want it to be," says Dene Peterson, founder, ElderSpriit. 42 www.seniorshousingbusiness.com Seniors Housing Business n February-March 2015