Colorado Real Estate Journal - January 6, 2016
You have competed successfully for public funding for new affordable senior apartments within the past year or so. Based on your experience, what do you believe are the key factors that make a new senior property stand out from the competition? Please contact Pyms Capital Resources or The Highland Group if you would like to participate in the Senior Housing & Care Question, or if you have a question that you would like to see addressed Elizabeth Gundlach Neufeld - Success at funding is less about “standing out from the competition” and more about creating a successful community from the start. Unlike “vanilla” multifamily apartments, affordable 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 residents 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 community 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 circumnavigate the buildings without fear of falling from ice/snow, as dedicated boilers 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 assistance, as well as creating and monitoring 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 working, social, active, committed to their community and desire meaningful relationships – with their peers, as well as their families. As developers with over 55 years of combined experience in the affordable senior housing market, we believe independent, active seniors are motivated to choose properties that provide an inclusive package of the following elements. 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 property’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 community – should be intentionally designed and customized for each property. Furthermore, residents desire the simple comforts they have enjoyed for many years, such as covered parking, garages and storage. The final difference is measured by the overall quality design and finishes used, along with the reputation and professionalism 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 affordable apartment building in south Boulder. From our experience, we believe that in order to stand out from the competition in the ever-increasingly competitive funding arena, affordable senior properties should focus attention on design, transportation and wellness opportunities. In the design of new senior properties, it is important to incorporate features that will allow flexibility for residents to age in place and accommodate 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 transportation 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 opportunities to support residents is essential to any new senior project. Our properties are staffed with resident services coordinators who are responsible for organizing programs and activities. Additionally, Boulder has an incredibly service-rich environment and, therefore, 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 wellness 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 apartment community for seniors, in March. The Highlands will ultimately be 132 one- and two-bedroom apartments with amenities and resources that will allow seniors to age gracefully 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 and conveniently close to a host of medical services, retail opportunities, restaurants, the Arts Center and more. The Grand Valley Transit bus stops at our front door, inviting residents to explore beyond their walkable neighborhood. The four-floor building is thoughtfully designed with larger common gathering spaces at the elevator lobbies, and a variety of smaller amenity spaces punctuating the corridors. A robust menu of senior-appropriate services will be provided by several of Grand Junction’s best human service organizations. Walking paths, a raised garden area and patio areas allow residents to enjoy the natural beauty of the Grand Valley and the views of the Colorado National Monument.