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I learned early in my career how little I know. Though we have built more senior living than anyone I know and have been exposed to very successful senior living developers and operators, they all operate differently. Someone recently said to me, “An expert is someone who knows more and more about less and less until eventually, he knows everything about nothing.” But I don’t think that is the case in my situation. It’s just that there are a lot of ways to be successful if you know what your Hedgehog Concept is, as Jim Collins would say.
Mid-market became a newer thing a couple of years ago. They often say what is old is new, and this might be one of those situations. We, in conjunction with a number of clients, are working on several mid-market concepts. They hearken back to the eighties when this industry was starting, and people’s...Read More >
The “Silver Tsunami” of Baby Boomers is not knocking on the door of assisted living communities just yet and still has several years to go before they are. So how are senior living developers going to entice these folks to leave their homes?
A recent article in Senior Housing News noted that in a survey of 120 senior housing professionals, 87% of them responded that they are currently pursuing active adult apartment projects. They see the need for a stepping stone so to speak; getting seniors to leave their homes that are nowhere near ready to move into an Independent Living community much less an Assisted Living community. Seniors in this segment are still looking for active, vibrant lives and are not ready to see what the future looks like by living in communities where they would see just that.
If seniors can stay in place longer in these communities with the...Read More >
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One thing was clear at the National Investment Center for Senior Housing (NIC) fall conference that was held recently in Chicago. The interest in senior housing continues to grow. With more than 3,300 attendees at NIC, it was a whirlwind of activity meeting with developers, operators, equity providers and lenders, all who are optimistic about the future for new development in senior housing.
There seems to be no limit to the private equity that is available to experienced developers who along with their operating partners have a solid track record. Private equity funds that target the senior housing sector raised more money in 2018 than at any time before, with more than $15 Billion raised. This is up from the previous record of $10.8 Billion raised in 2015.
This high level of interest in senior housing can be supported by the fact that the number of Americans age 65 and above is...Read More >
The Douglas Company has done a lot of work on developing Mid-market senior living prototypes that are cost-effective, functional and durable. Though we have expertise in senior living construction, we are not experts in the operations of these communities. So while we can attack the cost of the physical plan, which is really is only 10% of revenue, it's a small part of the solution.
At the NIC Conference, people talking about how to serve the mid-market, but only one had a prototype. It was intriguing and thoughtful and we are studying it further, but there was limited other focus on this market from what I saw. NIC had a session specifically devoted to this, and there were a number of statistics I wouldn’t normally consider impacting current and future demand for this product, such as the changing demographics related to marital status, location relative to children, changing health-related factors, and...Read More >
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The Douglas Company, an award-winning Toledo, Ohio based general contractor specializing in senior living, multi-family and mixed-use construction projects, is proud to announce the completion of construction on the new YourLife Memory Care Community, located in Coconut Creek, Florida.
YourLife of Coconut Creek is a 61,760 square-foot, two-story memory care community with 84 apartment-style units. Residents will enjoy amenities including multiple common areas, a spa and beauty salon, numerous screened-in porches, interior courtyard, putting green, and a butterfly heritage garden. This $13.2 million community owned by Olson Land Partners, was designed by architect, Leo A. Daly to deliver the most exceptional memory care and engaging lifestyle for residents living with Alzheimer's disease or other forms of dementia, as well as, meeting all stringent South Florida hurricane protection requirements.
"The Douglas Company is excited to be part of the project team celebrating the successful completion of this development. We...
The Douglas Company, an award-winning Toledo, Ohio based general contractor specializing in senior living, multi-family and mixed-use construction projects, is pleased to announce that construction has begun on HarborChase of Stuart, a 127,798 square-foot assisted living and memory care community in Stuart, Florida.
Co-developed and owned by Denver-based Confluent Senior Living, co-developed and operated by Florida-based Harbor Retirement Associates and designed by Baker Barrios Architects, Inc.; HarborChase of Stuart will provide a mix of 134 assisted living and memory care apartments in the two-story facility. The luxury senior living community will feature amenities including a full-service commercial kitchen, multiple dining areas, a salon, massage room, wellness room, three interior courtyards complete with multiple fountains, a shade sail, a putting green, resident planting beds, a fire pit, and high-end interior finishes. Construction is scheduled to be completed in the fall of 2020.
“Our project team is excited to be building this phenomenal development. ...Read More >
The Douglas Company, an award-winning Toledo, Ohio based general contractor specializing in senior living, multi-family and mixed-use construction projects, celebrated with the owner, TLC Management, Inc., a recent groundbreaking of their new $33.2 million Blue Heron Health and Rehabilitation Community in Wesley Chapel, Florida.
Blue Heron Health and Rehabilitation Community will feature a total of 201 residences inclusive of 106 skilled nursing, 22 memory care, and 73 assisted living suites. Meticulously designed by Cuhaci & Peterson, the community will encompass approximately 158,971 square feet of living and communal space with amenities including a health spa, theater, game room, wellness gym, activity center, resident art gallery, library, putting green, and bistro shop – all conveniently located on-site. Construction is scheduled to be completed in the fall of 2020.
“It's gratifying to bring TLC Management’s vision to life. Blue Heron Health and Rehabilitation will be a beautiful space with first-rate services that meets the...Read More >
With the number of new senior living communities recently opened or currently under construction, there is a growing need to update and refresh existing facilities to help improve their viability in the marketplace.
As new senior housing communities, with all of the latest amenities and design trends, are coming online, older facilities need to position themselves as the better local option. The appearance and freshness of a community can have a significant impact on many aspects of a business. Having an attractive, appealing, and comfortable community can improve resident’s happiness and well-being, increase staff morale, and create a more positive public opinion, all which lead to increased occupancy and better financial performance of the community.
Investing in a renovation project can be a challenging process that can seem overwhelming and complicated. The Douglas Company team has experience in planning and executing renovation projects. We know and understand the unique requirements that skilled...Read More >
All of us in the senior living industry understand that inventory growth has exceeded demand, causing vacancies to rise. I was at a recent symposium and one of the speakers said that the decline in demand was caused by the great depression, an intriguing concept. Research indicates that from 1927 to 1933 that birth rates decreased by more than 425,000, over 15%. This would certainly impact demand, it seems.
The speaker then said that this reversed in the 4th quarter of 2017 and that demand was picking up. A study of US census information shows that it started picking up in 1937, escalating significantly through the start of world war two. 1937 was 82 years ago. The average age for entry to senior living communities is 84 according to most of our clients. This would mean there may be a little more time to wait for a resurgence of demand, unfortunately.'
Peter...Read More >
After several months of hard work and dedication, The Douglas Company is thrilled to officially announce the launch of our new website! We invite you to visit us at douglascompany.com to learn more about our processes, services, culture, and to explore our project portfolio.
Our new website coincides with our expanding role as an industry leading General Contractor specializing in the construction and renovation of senior living and multi-family projects. The primary objectives of the redesign of our site were focused on providing the opportunity to rediscover who we are as a company, our services and solutions, aesthetics, simplifying our content, and increasing the visibility of our brand.
We built our new website with you in mind; you'll find our new site is divided into three main sections: Read More >
The Douglas Company, an award-winning Toledo, Ohio based general contractor specializing in multi-family, senior living, and mixed-use construction projects, has broken ground on Sand Hill Memory Care, a new $10.8 million memory care community in Gainesville, Virginia. The Developer, Dillin LLC, selected M&A Architects of Columbus, Ohio to design the 40,944 square foot single-story community, featuring 64 suites, multiple activity areas, commercial kitchen, spa, physical therapy, sunrooms, as well as, a salon and two interior courtyards. "We are excited to be building our third senior living community for Dillin LLC," said Hunter Kick, Project Coordinator of The Douglas Company. "Our partnership is truly about utilizing our strengths to create a senior living community that offers an unsurpassed standard of living to its residents. Our team is proud to be part of the development that brings this new option for residents with Alzheimer's, dementia and other types of memory challenges to the Gainesville...Read More >
The Douglas Company, an award-winning Toledo, Ohio based general contractor specializing in multi-family, senior living, and mixed-use construction projects, announces the completion of a new senior living community in Sylvania, Ohio. Charter Senior Living at Oak Openings is a 48,882 square-foot community, developed by EBS Sylvania, LLC, delivers a combination of 52 assisted living and memory care suites for residents. The $8.6 million project was designed by M+A Architects and brings a new and modern standard in senior living to Sylvania and Toledo area residents. The one-story, contemporary community features first-class amenities, including full-service kitchen, billiards room, bistro, fitness room, salon, spa room, living rooms, activity areas, as well as, exterior courtyards and patios. "Our team is excited to be part of the project team of this new senior living community that will provide a new option in assisted living and memory care to the residents in our hometown," stated Alex Koch,...Read More >
The Douglas Company, General Contractor, is excited to announce completion on the construction of Your Life Senior Living, a new Memory Care Community located in Stuart, Florida. Your Life Senior Living Memory Care Community is a 60,217 square foot, $12.6 million community constructed in four sections, each with its own theme, ensuring that every neighborhood has an individualized, homelike quality. The interior has a bright, open layout with many elegant finishes. Amenities include activity rooms for arts and crafts, and therapy classes, a salon and spa, theater room, putting green, and an interior courtyard that is beautifully landscaped with butterfly gardens and a rock waterfall. The Douglas Company collaborated with Olson Land Partners and architect, Leo A. Daly, to provide this state-of-the-art community that offers 74 residential rooms and is designed to promote safe and abundant living for area residents with Alzheimer's disease and related dementias. "We celebrate the completion of this Olson...Read More >
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