Bonita Springs

Expect the Best: The Terraces at Bonita Springs

One look at the Terraces at Bonita Springs, with its Mediterranean architecture and picturesque backdrop, and it’s not hard to imagine why seniors would want to live there. Today, the CCRC with its health services center, Renaissance at the Terraces, stands as a huge success near the Southwest Florida coast.

But when the community was nothing more than a tract of land and blueprints, the Great Recession loomed on the horizon, providing ample challenges for the community’s sponsor.

Read our latest Community Spotlight (PDF) to discover how SantaFe Senior Living worked with Greystone to build a CCRC that defied market expectations and is now a place where residents have come to expect the best.

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Greystone Announces Partnership with CITIC GAI

Greystone is pleased to announce a global, integrated development and management partnership with CITIC Guoan Investment Co., Ltd. (CITIC GAI). Beijing, China-based CITIC GAI, a wholly owned “flag enterprise” subsidiary of Guoan Group, is a real estate development and finance investment firm. CITIC GAI is committed to become China’s No. 1 urban services provider of senior living and senior care.

To make the partnership official, Greystone and CITIC GAI recently executed a Memorandum of Cooperation in a ceremony at the U.S. Embassy in Beijing.

Representatives from Greystone, CITIC Guoan and the U.S. Embassy in Beijing pose during a Memorandum of Cooperation ceremony in Beijing.

Representatives from Greystone, CITIC Guoan and the U.S. Embassy in Beijing pose during a Memorandum of Cooperation ceremony in Beijing.

Greystone will provide comprehensive management consulting for CITIC GAI’s current portfolio of senior care projects in China, including the well-known Grand Epoch City, located in suburban Beijing. Greystone will also provide planning and operations management consulting to GAI’s high-end, large-scale senior care communities in China, including the Ermei and Beihai projects. The partnership allows for future projects throughout China, the U.S. and globally.

Greystone’s consultations will focus on strategic planning, hospitality training, accounting services and management systems. Greystone will customize a business plan, a financial management platform that includes budgeting and reporting, and a management operations training program for the Chinese market. Additionally, Greystone and GAI will jointly participate in a leadership role advising on government senior care policy and regulation improvements.

“Internationally, forward-looking firms like CITIC GAI have a growing interest in financial investments in the Chinese senior market, while seeking to replicate best practices from America to create quality senior housing,” said John Spooner, Greystone Vice Chairman and Chief Executive Officer. “Senior care is a core strength of GAI, and represents a significant investment and development strategy. GAI is driven by a mission to deliver best-in-class, environmentally-friendly housing and sustainable care services to seniors with responsible and ethical business practices, which makes the firm a natural partner for Greystone.”

“Our companies held extensive background discussions on the potential strength of the opportunities. Greystone believes that GAI and their partners offer many competitive advantages and market differentiators that will make these communities successful.”

GAI has strategic cooperation partnerships for the development of senior living projects with Public Holding Limited, Beijing Inno-Olympic Group Co., Ltd, and the Evergreen Senior Care Company.

About CITIC GAI

GAI is a registered company with equity capital of $840 million USD and total assets of $5 billion USD. Its business lines include real estate development, property management, asset management and investment in information consulting. CITIC Group, the majority shareholder of Guoan Group, is a state-owned multinational conglomerate, with more than 40 subsidiary companies in a wide range of businesses and approximately 10,000 employees. CITIC Group was listed 168th in the Global Fortune 500 in 2013. For more information, visit the CITIC Group website (English).

About Greystone

Greystone is a leading consultant to the senior living industry. The company has advised more than 500 senior care organizations on a wide range of issues including strategic planning, repositioning, development marketing and operations. Greystone has successfully managed more than 100 senior living community start-ups, redevelopments and expansions involving more than $6.5 billion in capital costs and providing approximately 11,000 housing and supportive care units for seniors. Project budgets have ranged from under $10 million to over $300 million USD. Greystone’s experience allows the firm to provide clients real-time advice and solutions. Greystone services are designed to help existing and potential sponsors and owners of senior living communities successfully develop a continuum of care for seniors including independent living apartments and cottages, assisted living units, personal and long-term care and Alzheimer’s care. Visit Greystone at www.greystonecommunities.com.

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Construction Update: East Ridge

East Ridge at Cutler Bay Retirement Village, a SantaFe Senior Living Community in Cutler Bay, Fla., is currently undergoing a $70 million expansion.

Miami-Dade County’s only life care community is refreshing residential service areas and adding new memory support, assisted living, skilled nursing and a state-of-the-art rehabilitation center.

Greystone is serving as development consultant. For more information on East Ridge, visit the community’s website.

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Terraces of Boise Screens Glen Campbell Doc

A special screening of Glen Campbell…I’ll Be Me sponsored by the Terraces of Boise filled The Egyptian Theatre in Boise, Idaho Wednesday night. Many future residents from the Terraces attended, and were also treated to a Q&A with Glen’s wife, Kim Campbell.

“He was the one who wanted to make this film — to show what living with Alzheimer’s was like. He wanted to remove the stigma of getting this diagnosis,” Kim told the audience, according to the Idaho Statesman.

Tim Mallad, Greystone first vice president of operations management services, directed the Q&A. About 700 people were in attendance for the film, which follows Glen on a cross-country farewell tour with his family shortly after being diagnosed with Alzheimer’s disease in 2011.

Due to open this summer, the Terraces of Boise will be the state’s first and only life care community.

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Event Recap: 2015 Business Office Managers Conference

Greystone recently welcomed more than 30 business office managers from our clients’ communities for our annual Business Office Conference. We shared developments regarding important Greystone initiatives like Real Time Community Information (RTCI), Pinnacle Service and the Diamond Award Program.

Our new-and-improved RTCI calls bring together site-level executive directors and department managers with Greystone management and marketing teams to review real-time census data, financial data and historical trending analyses. These monthly calls allow us to enhance clients’ understanding of a community’s financial operations, while proactively managing controllable expenses and identifying financial improvement opportunities.

Pinnacle is the new service standard from Greystone that aims to redefine how communities approach hospitality. Drawing inspiration from service leaders like Ritz-Carlton and the Four Seasons, Pinnacle helps communities deliver personalized, memorable customer experiences that measurably improve marketing, operations and resident satisfaction.

The Greystone Diamond Awards honor communities that have made extraordinary achievements in areas like financial performance, hospitality, leadership development, and resident and employee satisfaction. Communities must meet a rigorous set of criteria to be recognized as a Diamond winner.

With the help of outside speakers, Greystone also hosted sessions on Medicare billing and filing, financial reporting, care purchasing services, marketing and leadership.

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Strengthen your Influence Mix with Online Reviews

By Kristine Graeber, Vice President – Marketing Services, Greystone

How often do you consult online reviews when you’re thinking about visiting a new restaurant? Do you read online reviews when deciding on a new phone, place to stay or pair of jeans? When making a purchasing decision, many of us are relying more and more on sites like Yelp and TripAdvisor as the strongest factor of our influence mix.

But why?

Online reviews provide perspectives from consumers who don’t have a vested interest in the business, so they can speak openly about their experience. They are often quite candid and do not sound anything like a testimonial carefully crafted by a marketing agency. Online reviews offer the truth we all seek.

And now, online reviews are entering the realm of senior living.

At the Barrington of Carmel, residents have been responsible for referring a third of the total leads generated last year and so far this year. This incredible group of spirited and faithful residents is constantly asking “What can we do to help?” So the marketing team at the community in Carmel, Ind., got an idea.

Employing resident support, the Barrington recently hosted a Yelp event that focused on educating residents on the importance of online reviews, the different places where reviews can be posted online and how to post them. During the educational session, seven reviews were posted to Yelp, and four to other reviews sites like Google. Here is a small sampling of the reviews:

Carol C. says: We have lived here since the opening on the community and have made so many wonderful friends. Our lives are busier and richer than ever before. The great staff has helped to make our lifestyle easier and more enjoyable. This was one wisest decision we have ever made. We feel so lucky to be able to be here.

Ralph L. says: The Barrington facilities have more than met our best expectations since we moved in March of 2014. The staff has consistently responded to residents’ needs with eager professionalism. Living here has introduced us to community of friendly and stimulating neighbors.

Hosting the online review session and encouraging resident participation was the first effort of its kind for the Barrington, SQLC and Greystone. In doing so, we enlisted the support of Bluespire Marketing for technical support and insight. The session was extremely well received by residents. It was also a learning experience for the Greystone, Barrington and Bluespire marketing teams. If you’re considering an event like this at your community, keep in mind:

  • Ensure you have active accounts set up with the different online review sites
  • Encourage Google reviews, as they help your SEO ranking. You’ll need a Gmail account to post reviews, so perhaps offer a tutorial for residents to set up an account. This can benefit you two-fold as an educational session on sending email
  • Post reviews intermittently vs. all at once. When multiple reviews are received at any one time, the site could flag the reviews as spam and it will take several weeks before they are able to be vetted and posted

Overall, this seminar provided many wins: a win for residents in learning something new, the Barrington received many positive reviews, and the Greystone and Bluespire marketing teams were able to identify a cost-effective way to optimize lead generation and increase a community’s online presence.