The Future of Senior Living

Two weeks ago, I attended the National Investment Center for Seniors Housing & Care (NIC) in Washington, D.C. As always, it was good to see old friends and clients, and interesting to get a read on the industry. There were really no surprises, but it’s good to get intensive confirmation of what’s going on. 

Senior living development is really a somewhat bifurcated proposition at this point.  Though we are still building and have recently started a number of assisted living/memory care (AL/MC) projects, most of the developers are not bullish on this sector right now. Operating costs are up dramatically, interest rates and construction costs continue to rise, occupancies have not fully recovered, and rents have not yet risen to cover the increased expenses. There are some AL/MC developers that think that they just need to forge through, that it’s just a bump in the road and all will be good,...

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A Worm’s Eye View of The NIC Senior Conference

People have told me that senior living development is slowing down, and they may be right.  But having recently returned from the NIC conference in Chicago, I can tell you that over two days we had the good fortune to meet people from 39 different companies, a record for us. All of these people were working on their next project or the next several projects.  Though there was little complaining about tightening of debt markets, all of them were optimistic and excited for the opportunities in front of them. This makes me excited for the opportunities, and what 2018 should bring.  The time and interest from all these professionals was appreciated.  And it’s a credit to all of the people in The Douglas Company who are working hard to create a reputation, with the goal to be the best senior living builder in the country.  Let’s us hope that my read from...

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