January 6-January 19, 2016 —
COLORADO REAL ESTATE JOURNAL
— Page 33
Senior Housing & Care
Elizabeth Gundlach Neufeld
Success at funding is less about
“standing out from the competition”
and more about creating a successful
commu-
nity from
the start.
Unlike
“vanilla”
multifamily
apartments,
afford-
able senior
homes must
be designed
and funded
upfront
with all
potential
amenities/
services,
and not
rely upon
residents paying for additional services
after the property is built. These resi-
dents are on fixed incomes, incomes
which tend to decrease while they
age or become frail. Hence a “pay as
you go” for services/ amenities is not
viable.
The Aurora Housing Authority
engaged with seniors, consultants
and service providers to ask what was
important: Safety, security and com-
munity were critical. Consequently,
we put in a large community room,
as well as several smaller gathering
areas. Residents build kinship here
by hosting potlucks, game nights and
clubs devoted to crafts and gardening.
A fitness room and raised gardening
beds also allow residents to remain
healthy and active.
Resident safety is ensured not only
with controlled-access systems, but
also with “snowmelt sidewalks,”
which allow residents to easily circum-
navigate the buildings without fear of
falling from ice/snow, as dedicated boil-
ers heat the sidewalks.
AHA also has a dedicated senior
community builder at our facilities.
The community builder is essential
to providing quality care and service
to our residents, facilitating access to
appropriate services and public assis-
tance, as well as creating and monitor-
ing the various clubs and activities.
Success, then, is creating safe, secure
and community-driven apartment
homes.
Rita Baron
Perhaps one of the first hurdles is to
understand that the “group identifier”
of senior is most inaccurate! Today’s
seniors (55-
plus) are
generally
still work-
ing, social,
active,
committed
to their
community
and desire
meaningful
relation-
ships – with
their peers,
as well as
their fami-
lies.
As devel-
opers with over 55 years of combined
experience in the affordable senior
housing market, we believe indepen-
dent, active seniors are motivated
to choose properties that provide an
inclusive package of the following ele-
ments.
Seniors desire to stay connected,
therefore, it is imperative to find a
location with the perfect balance of
suburban/urban qualities that meets
all (or most) of their daily needs:
transportation options (if essential),
grocery, restaurants, pharmacy,
banking, medical, outdoor activities,
government services and church.
Additionally, the paired elements of
design and amenities drive a prop-
erty’s success. Every attention to
detail – from floor layouts to common
spaces (both indoor and outdoor)
that foster an inviting atmosphere,
promote active engagement among
residents and offer a sense of commu-
nity – should be intentionally designed
and customized for each property.
Furthermore, residents desire the
simple comforts they have enjoyed
for many years, such as covered park-
ing, garages and storage. The final
difference is measured by the overall
quality design and finishes used, along
with the reputation and professional-
ism of the management company.
The culmination of these elements
delivers a living experience filled with
pride – considering these standards
easily compete with most market-rate
properties.
Lauren Shevets
Boulder Housing Partners recently
developed the High Mar Senior
Housing community, a 59-unit afford-
able apart-
ment build-
ing in south
Boulder.
From our
experience,
we believe
that in
order to
stand out
from the
competition
in the ever-
increasingly
competi-
tive fund-
ing arena,
affordable
senior
properties should focus attention on
design, transportation and wellness
opportunities.
In the design of new senior proper-
ties, it is important to incorporate
features that will allow flexibility for
residents to age in place and accom-
modate residents’ changing living and
mobility needs over time. Projects
also should incorporate a diversity of
public and private spaces to facilitate
resident interaction and community
building, as well as offer opportunities
for private contemplation.
Providing transportation choices
is another essential element for new
senior properties. Locating a project
near convenient bus routes, with
options to walk or bike to services and
shopping, helps reduce transporta-
tion costs and gives more freedom and
mobility to residents. BHP believes
it is important to keep our residents
connected to the community, so we
provide free Regional Transportation
District EcoPasses, as well as reduced-
cost memberships through our
partnerships with eGo Carshare and
Boulder BCycle.
Finally, offering wellness opportuni-
ties to support residents is essential to
any new senior project. Our proper-
ties are staffed with resident services
coordinators who are responsible for
organizing programs and activities.
Additionally, Boulder has an incredibly
service-rich environment and, there-
fore, BHP is able to capitalize on the
resources already available without
charging additional fees to the rent.
Jody Kole
The key to success in nearly every
endeavor is to consider the needs and
desires of the customer and to make
it easy for
them to
say “yes.”
Grand
Junction
seniors will
say “yes”
to The
Highlands,
our planned
senior
apartments,
due to its
superior
location, its
affordability
and its well-
ness focus,
which is evident in its design and its
wide range of services to help seniors
age gracefully.
Grand Junction Housing Authority
will begin construction of The
Highlands, a wellness-focused apart-
ment community for seniors, in
March. The Highlands will ultimately
be 132 one- and two-bedroom apart-
ments with amenities and resources
that will allow seniors to age grace-
fully in a beautiful and convenient
setting. The first phase leads with 64
units.
The Highlands will shine in so many
ways, starting with its stellar location
in the heart of Grand Junction, only
two blocks from St. Mary’s Hospital
Rita Baron
Partner, Four Corners
Development LLC
Jody Kole
Executive director, Grand
Junction Housing Authority
Lauren Shevets
Project manager, Boulder
Housing Partners
Elizabeth Gundlach
Neufeld
Deputy executive director,
Aurora Housing Authority
Please see
Senior,
Page 34
by Jennifer Hayes
A 9.1-acre site in Aurora is slat-
ed to become the future home of
Villagio Senior Living of Aurora.
The land, located at approxi-
mately 7401 S. Addison Court,
recently was acquired by Choice
Capital Partners for $1.4 million.
Choice Capital Partners, a
senior housing developer as well
as an owner and operator based
out of Oklahoma City, plans to
develop 52 units of assisted liv-
ing and 21 memory care units
in a 76,464-square-foot building,
according to a letter to the city
of Aurora’s planning department.
A second phase is anticipated to
include 73 units of assisted living
and eight units of independent
living in cottages to the north of
the site.
The first phase is expected to
open this year.
Choice Capital operates mul-
tiple Villagio Senior Living com-
munities in Oklahoma, Texas and
Colorado.
Steve O’Dell and Chris Cowan
of ARA Newmark represented
the buyer. Garrett Johnson of
Cresa represented the undis-
closed seller.
“It is no secret that metro Den-
ver is a great place to live and
retire," stated Cowan. "With our
growing senior demographics
and tremendous in-migration,
the demand for senior living is
big and Villagio Senior Living is
meeting it.”
Other News
n
MorningStar Senior Living
plans to break ground this spring
on a new senior living communi-
ty atWest 64thAvenue andEasley
Road inArvada.
Doors will open to residents in
fall 2017.
MorningStar Senior Living
of Arvada represents the sixth
joint venture between affiliates
of MorningStar Senior Living, a
Denver-based senior living devel-
oper andoperator, and
Confluent
Development,
a Denver-based
investment firm.
The community, MorningStar’s
16th ground-up development,
will feature 71 suites for indepen-
dent living, 41 suites for assisted
living and 29 suites devoted to
individualized care for residents
with Alzheimer’s disease and
other memory impairments, on
4.5 acres.
“We’re excited to bring an offer-
ing to Arvada seniors and their
familiesunlikeanythingelse inthe
area. MorningStar of Arvada will
be an artfully designed, state-of-
the-art community incorporating
the latest technology and boasting
beautiful grounds and amenities,
all in a convenient location right
on 64th Avenue. We can’t wait to
