Senior Housing News November 5, 2024
Discovery Senior Living CEO Richard Hutchinson is preparing the company to grow its regionally-focused operating model in the years ahead.
Hutchinson expects that 2025 will be “the year the shovels come out,” and Discovery has been approached by several lending groups regarding potential new development. But don’t expect Discovery to dive head-first back into building anew just yet.
Even while construction and labor costs have come down, the Bonita Springs, Florida-based operator is taking a more cautious approach before starting new developments. Hutchinson’s advice for other companies is to “be careful.”
“We could end up with a bunch of supply that all of a sudden has a little bit of desperation to it,” he told Senior Housing News. “We need...
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