Senior housing: how do variations in management practices influence the design and development of continuing care retirement communities?

Public Deposited
Analytics

Downloadable Content

Download PDF
Request Version for Screen Reader
Last Modified
  • October 24, 2019
Creator
  • Andersen, Gina M.
    • Affiliation: College of Arts and Sciences, Department of City and Regional Planning
Abstract
  • Demand for senior housing options has increased in recent years and is projected to continue growing. Developers who recognize this trend and wish to expand their portfolios, however, should be aware that senior housing involves a level of complexity not encountered in standard real estate production. For example, some of the unique characteristics of senior housing include: provision of extensive support services, possible provision of asset management and long-term care for residents, and complex regulatory frameworks that govern development. (Andersen & Dillon, 2010) Within the realm of senior housing development, the Continuing Care Retirement Community (CCRC) has gained significant popularity in the last three decades, and is in a position to be one of the most attractive options for seniors in the future. This type of community provides a variety of housing options, contract options, amenities, and a guarantee of lifelong health care. There are currently more than 1,900 CCRCs in the nation, and that number will undoubtedly rise with the forthcoming increase in the elderly population. The intent of this project is to gain a better understanding of the factors that influence the feasibility, marketability, and viability of Continuing Care Retirement Communities, especially in North Carolina. Factors considered in this study include Neighborhood and Community Design, Management Structure and Policies, Fee Schedules and Refund Options, and Financial Health and Structure. Each of these elements has a number of variations that can greatly impact the overall development. As developers are faced with greater scrutiny by potential residents, regulators, and lenders, this knowledge will create an advantage in navigating the local market, approval process, and financial analysis. Additionally, the information provided can be used to help development regulators and officials assess the quality and feasibility of proposed projects. The methodology for this research employed qualitative analysis based on information gained from reading North Carolina Department of Insurance Disclosure Statements, interviewing executive directors and developers of the considered communities, as well as background research completed during PLAN 765 and 761 during the Fall semester of 2010. This research has been paired and compared with recently published literature, and provides both a local and national perspective of the impacts and influences of the considered business practices.
Date of publication
DOI
Resource type
Rights statement
  • In Copyright
Advisor
  • Malizia, Emil E.
Degree
  • Master of City and Regional Planning
Degree granting institution
  • University of North Carolina at Chapel Hill
Graduation year
  • 2011
Language
Location
  • North Carolina, North Carolina, United States
Extent
  • 53
Deposit record
  • b3ab205f-7827-443a-b796-3f32525f3bb2
Date uploaded
  • March 6, 2013

Relations

Parents:

This work has no parents.

Items

Thumbnail Title Date Uploaded Visibility Actions
file details Senior_housing__how_do_variations_in_management_practices_influence_the_design_and_development_of_continuing_care_retirement_communities_.pdf 2019-10-24 Public Download