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“Now is the perfect time to renovate or reposition senior living projects. It’s important for everyone to prioritize market awareness and revitalizing older facilities. Considering the industry’s staffing problem, this could truly make a difference for both staff and residents,” says Dora Kay, Vice President, Moseley Architects.

Moseley Architects is a service provider at the marcus evans LTC & Senior Living CXO Summit 2024.

How has the LTC and senior living industry been changing in recent years? What does the future hold?

Over the past few years, there has been an explosion of opportunities for different product types to meet evolving demographics. The path to success is not determined by a single product or formula, but rather by the market and the services desired by the community. As the baby boomers come of age, there will be a need for additional housing. Active Adult has increased in popularity as the product that bridges multi-family and independent living, which offers the flexibility the demographic now demands. The middle-market continues to be widely debated, especially for those who need care services and can no longer stay at home. It’s been a challenge to expand affordable choices across the industry. To find a better price point, some companies are focusing on rural locations. There are ways to keep costs balanced if everyone works as a team.

Why now? Why is it a good time to reposition projects?

Many developers and operators have faced challenges in obtaining financing for new construction, but finding capital for improving existing properties has been easier to obtain. To keep a community marketable, it is important to upgrade programs, create outdoor amenities, adjust overall community unit mix, update resident units, and provide better staff spaces. Refreshing older communities invigorates both residents and staff. We know retention of staff is still a concern. Paying attention to their needs is just as important as the residents and their families.

Existing communities must remain mindful of the services offered by new competitors or those undergoing repositioning. Is there a way for them to enhance their position by adopting a more strategic viewpoint? Is it an operational change by staff, a focused modification of a space, a larger repositioning undertaking, or an addition? Considering what is locally available to utilize as a shared amenity, in addition to the offerings of nearby communities, is an essential aspect of this comprehensive analysis.

What are residents looking for?

When choosing a community, it’s important to consider both the person moving in and their family. The top priority is meeting resident needs, whether it’s dining or personal care, while also offering families activities that bring comfort and enrich their daily routine. Having diverse dining options within the community addresses the needs of the younger aging population with more developed lifestyles. The community selection process places equal importance on wellness and outdoor amenity offerings. Sharing nearby services can easily be marketed as part of the amenity package.

Can you provide cost-effective suggestions for revitalizing older projects?

Focus on the “wow” factor. When families enter the building, the first impression is the key selling point. Making simple and engaging changes can have a powerful impact on the community. Thoughtful design is essential for keeping costs down during major renovations. When seeking an architect, it’s essential they consider existing conditions to mitigate any redesign and costly modifications due to concealed structure and systems. Including a general contractor early on can help with budgeting.

Can you provide any tips for those who are considering renovations while the community is still occupied?

When dealing with occupied buildings, the priority should be to establish a desired program and then focus on phasing the project accordingly. Working with an experienced design team will help navigate the challenges these types of projects face with the goal of minimizing the impact on residents.

Any final words of advice?

Reach out to a professional architect. Our passion lies in supporting developers and operators as they plan for both their present and long-term goals. Your community will benefit greatly from this, and the positive impact will be long-lasting.