February is a month short on days but not on action in the senior housing industry. The following are a few notablerenovations or expansions that kicked off or wrapped up last month. We continue to see owners and operators follow the trends in senior housing like adding memory care facilities and developing campuses and CCRCs that provide housing options that are as diverse as seniors. At Cambridge Realty Capital, we hope these updates serve as a source of inspiration…or maybe just an update on the competition.
Casa Dorinda – California
The continued increase in demand for senior living prompted has prompted this Santa Barbara, California based CCRC to announce a $30 million renovation and expansion. The construction will add 20 independent living units, 6 memory care units, six personal care units as well as additional facilities, including new dining halls and clinical space, to serve the additional residents.
Danberry at Inverness – Alabama
As noted in prior blog, there is an increasing demand for memory care offerings in senior housing. To accommodate this need, Danberry, which offers assisted living and independent living options, will be converting 24 assisted living beds to specialty care assisted living beds that will serve those with memory impairments. The modification has been approved by the requisite Alabama state agency
Oxton Senior Living – Georgia
This senior living community just completed extensive facility and operational renovations. The facility has undergone a name change, management change, rebranding, and the addition or upgrade of a number of amenities. The facility boasts an award winning culinary staff.
Trail Ridge Retirement Community – South Dakota
American Baptist Homes of the West (ABHOW), a non-profit senior housing operator, completed a $12 million expansion if this facility adding 40 new assisted living units and new recreation facilities and common areas. The operator plans to continue its expansion later this year by adding 22 memory care units.
Woodlands Assisted Living – Maryland
As part of the deal to acquire this facility, National Health Investors, Inc., has pledged $500,000 in renovations and improvements for the Baltimore-based assisted living facility.
Prairie Creek Senior Living – South Dakota
Plans to add a state-of-the-art memory care center at this senior living campus have been announced. Construction is expected to take about a year and will begin this summer. The campus already has a variety of options for seniors ranging from independent living homes to assisted living units.
Cedar Hill Continuing Care Retirement Community – Vermont
In spite of the wicked weather this winter, Cedar Hill recently wrapped up a $10 million expansion that added two levels and tripled square footage. New assisted and independent living units were added as well as additional community space. The renovation uniquely added solar tubes to bring in natural sunlight.
Is Your Facility Ready for a Revamp?
If all this talk about construction has you ready to pull the trigger of a renovation of your senior housing facility, contact the finance experts at Cambridge Realty Capital to jointly analyze the best means of financing your project and how Cambridge can help.
