Senior Housing News September 16, 2024
After years of challenges, the road ahead now looks a little brighter for non-profit life plan communities.
Life plan communities are seeing more stable occupancy and operational trends than in the past, likely leading them to increase capital expenditure spending in the future. On the whole, “recovery building blocks [are] emerging” for the sector, according to Fitch.
Senior Director Margaret Johnson told Senior Housing News the continued improvement in occupancy and abating expense pressure allowed for operational stabilization and recovery in the life plan community sector during the fiscal year of 2023.
According to the Sept. 16 report, the median occupancy rates for life plan community unit types in 2023 were 93.3% for independent living, 89.2% for assisted living and...