Senior Housing News October 4, 2024
Many senior living companies are subsisting on renovation and repositioning as new development remains slow. As they undertake new projects, they are putting a lot of thought into what will get the most bang for their buck.
With projects usually totaling millions of dollars, operators must get return on their investment in some fashion, be it added occupancy, revenue or resident engagement.
Among the operators that have recently updated their portfolio is Roseville, Minnesota-based Presbyterian Homes and Services, which averages between four and six community renovations annually, according to Senior Vice President Jon Fletcher. Renovation projects often include apartment upgrades, common areas, and infrastructure improvements like mechanical systems, landscaping and building envelopes, Fletcher told Senior Housing News.
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