 | Housing for seniors gets a makeover in CrozetCrozet: Federal and local officials have announced a $7.9 million project that will bring additional affordable housing for the elderly and the handicapped to western Albemarle County. More than 50 people were on hand at The Meadows, an apartment complex for the elderly in Crozet, to celebrate expansion plans that will increase the complex by 38 one-bed apartments and renovate the existing 28 apartments. Construction on the project began in August and is scheduled to be completed in December 2010. Half Day Trends #132 / 02-03-10 |
 | Tentative deal reached for home care workersSalem: A tentative agreement has been reached for home-care workers covered by the Service Employees International Union Local 503. The new contract would cover up to 11 percent of health care premium increases in the first year of the contract and 10 percent in the second. State contributions ultimately will increase $1,826 a year. Live-in care providers earn $4.55 an hour and will now be able to take 12-hour increments of paid leave rather than a full day. Care providers on an hourly schedule will earn $10.20 an hour. Planning USA #131 / 10-06-09 |
 | Retirement chain seeks fresh cash infusionBalimore: One of the biggest developers of compre- hensive retirement communities in the U.S. is seeking much-needed new capital. Erickson Retirement Communities is struggling both with a heavy debt load taken on during its boom-time expansion and increasing numbers of retirees who can no longer afford to move into its facilities. Erickson's chairman and founder, John C. Erickson, said in a letter to the company's 23,000 residents last week that he had signed a letter of intent with a prospective investor. 15 Business Ideas #130 / 10-06-09 |
 | Waves of new fund cuts imperil US nursing homeHARTFORD: The nation's nursing homes are perilously close to laying off workers, cutting services, possibly even closing, because of a perfect storm wallop from the recession and deep federal and state government spending cuts, industry experts say. A Medicare rate adjustment that cuts an estimated $16 billion in nursing home funding over the next 10 years was enacted at week's end by the federal Centers for Medicare and Medicaid Services, on top of state-level cuts or flat-funding that already had the industry reeling. Half Day Trends #129 / 10-05-09 |
 | Sweden moves closer to nursing homes for gaysStockholm: Elderly homosexuals in Stockholm are hopeful that the idea of having a nursing home of their own may soon become a reality. While the idea of creating an elderly-living facility catering specifically to members of Stockholm’s GLBT communities has been around for more than a decade, plans are finally starting to move forward in earnest. Christer Fällman, a project leader for the planned Regnbågen (‘Rainbow’) nursing home, says many gays are interested in spending their final years in an environment suited to their particular needs. Trends #128 / 07-27-09 |
 | Age apartheid estates doomed everywhereNew York: The over 50s housing sector is doomed to a low / no growth phase even when the current financial tsunami passes. The only candidates for age restricted estates is a small portion of the veteran generation. Their places in CCRC / purpose built active adult communities will not be taken in the passage of time by boomers. They are a one generation product. Whoever gets stuck with these properties in 10 years plus, will not be able to fill the beds... even for no fees. Trends #127 / 07-28-09 |
 | Seniors housing complex set to close in AugustSt. Louis: Clayton on the Park luxury apartments for seniors plans to close in August, and the project's developer has laid off employees. Craig Saur, CEO of Conrad Properties said his firm has had layoffs in recent weeks due to the down economy. Conrad Properties laid off 10 employees this month and now has nine employees, Saur said. Sunrise Senior Living, a McLean, Va.-based senior living community operator, said Clayton on the Park will suspend operations indefinitely starting Aug 17. Planning USA #126 / 07-28-09 |
 | ILF planning to exit US seniors housing sector?McLean, VA: The ING Real Estate Community Living Group (ASX:ILF) has cut a last gasp deal with its USA lenders to avoid the ‘knackers yard’. The baying lender wanted $US15.5 million by Wednesday last week (17 June 2009). ILF skinned by with an offer of $US7.5 million immediately and $8 million in monthly installments over 12 months. ILF recently sold two US student housing assets in Richmond, Virginia and is looking to exit capital intensive development joint ventures in its home base of Australia. 15 Business Ideas #125 / 07-28-09 |
 | Sunrise 'fired' from management contractsMcLean, VA: Sunrise Senior Living Inc. continues to lurch from crisis to disaster. HCP Inc., whose real estate holdings include hundreds of senior communities, is firing Sunrise from more than a dozen of its properties. Long Beach-based HCP said it has terminated management contracts at 15 communities operated by Sunrise for failing to meet performance goals. HCP acquired 101 Sunrise properties as part of its acquisition of CNL Retirement Property Inc. In 2008, it terminated Sunrise contracts at 11 of those properties. Trends #124 / 07-28-09 |
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