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Page 42 — COLORADO REAL ESTATE JOURNAL — December 7-December 20, 2016
C ountless developers are
building senior living mem-
ory care projects in markets
across the United States,
including primary and sec-
ondary markets in Colorado. With
the irrefutable data about the baby
boomer demographics and the
growth projected for those with
dementia and Alzheimer’s dis-
ease, this area of development has
already seen overwhelming success
in real estate trends. The number of
Americans who were over the age
of 65 increased by about five mil-
lion people from 2000 to 2010, with
about 14.2 million more baby boom-
ers becoming seniors by 2020.
As the size and proportion of the
U.S. population age 65 and older
continue to increase, the number
of Americans with Alzheimer’s dis-
ease and other dementias will grow.
This number will escalate rapidly
in coming years, as the baby boom
generation has begun to reach age
65 and beyond, the age range of
greatest risk of Alzheimer’s. The first
members of the baby boom genera-
tion turned 70 in 2016. An estimated
5.4 million Americans of all ages
have Alzheimer’s disease in 2016.
This number includes an estimated
5.2 million people age 65 and older
and approximately 200,000 individu-
als under age 65 who have younger-
onset Alzheimer’s.
According to the Alzheimer’s Asso-
ciation’s 2016 Alzheimer’s Disease
Facts and Figures report, one in nine
people age 65 and older (11 percent)
has Alzheimer’s disease and nearly
one-third of people age 85 and older
(32 percent) have Alzheimer’s dis-
ease. Alzheimer’s disease represents
the most common
cause of dementia
and accounts for
an estimated 60 to
80 percent of cases.
Architects, opera-
tors, contractors
and developers
all have become
well-versed in the
importance of cre-
ating a distinct and
therapeutic mem-
ory care design,
development and
service delivery
model. This trend
started nearly a decade ago and has
not yet significantly slowed down.
In the Denver market alone, over
1,600 new assisted living memory
care units have been added or
planned for opening in the Colorado
metro market from 2012 to 2016.
This number of new properties has
led to major competition for con-
sumer options and staff employ-
ment choices. In both cases, it is
feared that some national markets
are becoming “overbuilt” and that
there may be insufficient labor to
meet the demand of senior living
memory care employers. Denver
was ranked No. 6 in overall volume
of senior living development in
2015.
So who will be the winners in
this competition? And how can a
developer and operator assure its
memory care community will be a
“stand-out” for residents and their
families, and for the best employees
in the market?
Nationally, skilled nursing care has
been an essential part of memory
care in the end stages of dementia.
Over the last decade researchers
and thought leaders in this area
have identified that people with
memory care needs require a much
broader array of housing options
to choose from. In essence there is
no one model for memory care that
can encompass all stages, but there
are design, programmatic and care
features and benefits that can make
an enormous impact on the wellbe-
ing of the resident. Some of the new
design and programmatic features
being utilized in successful memory
care communities include:
Innovative care settings. Design has
become very important and exciting
as national and local developers uti-
lize research on the positive impact
a thoughtful design can have on
residential quality of life. Common
areas that are open and enriching
are a must for social engagement
and creating the feel of community
and home. Small “house or neigh-
borhood” designs have become pop-
ular models to consumers. Outside
gardens and indoor natural lighting
have created positive therapeutic
impact.
Robust staff education and support.
Staffing is a huge cost center for a
memory care residence. Just hiring
the staff is no longer enough. Mak-
ing sure staff are well-oriented to
the specificity of dementia care and
having ongoing staff education is on
every consumer’s checklist as they
look for the right community for
their loved ones. Some educational
resources include dementia care
training and certification through
online and classroom training by
the Alzheimer’s Association or Sec-
ond Wind Dreams Virtual Dementia
Tour training for families and care-
givers offered locally through Vivage
Senior Living.
Technology. From brain-fitness
applications to sensors in everyday
objects and lighting that changes
color to adjust to circadian rhythm,
technology for memory care is
erupting into a billion-dollar indus-
try. Organizations like Aging 2.0 and
businesses like Google and GE are
involved in creating cutting-edge
technology for memory support.
Finding technological solutions for
resident memory needs, safety and
social engagement creates a definite
competitive edge.
Focus on wellness and optimal
health lifestyle. Preventing decline
and promoting optimal health and
wellness is paramount to a success-
ful memory care community. Engag-
ing residents in exercise, healthy
nutrition options and mental
stimulation is a must. On-site thera-
pies, spa experiences for massage,
relaxation and holistic care is a
given. Full rehabilitation and on-site
therapies, an inviting clinic team
and a great medical director are key
to managing and supporting great
memory care.
State-of-the-art amenities and ser-
vices. For today’s real estate devel-
opments serving memory care,
offering many lifestyle options is
the key to successful fill-up and
strong revenue outcomes. Engag-
ing therapies for art, music, dance,
drama and creative expressions
have shown to greatly improve
social wellness, interpersonal and
physical health and greater accep-
tance of the move-in placement.s
Nancy Schwalm
Chief business
development
officer, Vivage
Senior Living,
Lakewood
Health Care & Senior Housing Spotlight