Tag Archives: senior housing

gulf-coast-village copy

Gulf Coast Village Accepting Reservations for Expansion

A $31 million, 128-unit expansion is close to opening at Gulf Coast Village’s continuing care campus in Cape Coral, Fla. Sponsored by Volunteers of America, Gulf Coast Village spent nearly three years planning this expansion, which includes both assisted living and memory support units. And construction of the expansion, called Palmview, has been taking place on the 36 acres adjacent to the existing Gulf Coast Village community for the past 18 months.

Now, in preparation for a March opening, the community is accepting reservations from those interested in living at Palmview. Once the Palmview project is complete and fully operating, Gulf Coast Village will take on a second phase that includes the $5.9 million transformation and renovation of existing assisted living units into skilled nursing units.

The Cape Coral Daily Breeze recently shared an update on progress at Gulf Coast Village. Executive Director Kevin Ahmadi said: “I couldn’t be more pleased to bring a state-of-the-art assisted living product to the Cape Coral market. Palmview will set the standard for all assisted living facilities.”

Greystone is serving as development consultant on the Palmview project, in addition to its role as management consultant at Gulf Coast Village.

See recent aerial photos of the Palmview expansion in the gallery below. Learn more about Gulf Coast Village.

GCV 1 GCV 2 GCV 3 GCV 4 GCV 5 GCV 6 GCV 7 GCV 8 GCV 9 GCV 10

Larry Minnix to Address Greystone Event Attendees

LeadingAge CEO, Larry Minnix, will join over 170  senior living industry leaders at the annual Greystone Event in Irving, Texas next month.  He is scheduled to address the crowd and share his perspective on hot senior living issues and the future of LeadingAge.  Mr. Minnix has 30+ years of experience in aging services and announced earlier this year his plan to retire at the close of 2015.

During a decade and a half guiding LeadingAge, Minnix burnished his reputation as a soft-spoken but powerful voice on aging-related issues. He helped reinvigorate and unify a diverse 6,000-member organization, while also championing upgrades for resident services, technology and applied research. We look forward to the insight he will bring to our conference July 8-10.

Larry Minnix

Community Art Competition Featured at Annual Conference

Art is Ageless, Greystone’s inaugural resident art competition, will be featured at The Event next month.  All Greystone-affiliated CCRCs were encouraged to participate in this initiative designed to promote healthy aging, spark creativity and highlight the cognitive abilities of our residents through the levels of care and show that no matter their age seniors can still create beautiful pieces of art. The competition was open to residents of independent living, skilled nursing, assisted living and memory support.  Over 80 entries from more than 8 communities were received.

“The variety and level of skill represented by the entries we received is remarkable!” Sue Plasterr, Corporate Vice President – Greystone Management, stated. “The panel of judges certainly had their work cut out for them.”

A panel of senior living experts, artists, designers and art professors carefully reviewed each entry based on artist’s technique, subject matter and overall composition to choose finalists.  Six pieces, 3 from independent living and 3 from healthcare, were ultimately selected and will be displayed at The Greystone Event in Irving, Texas July 8-10. First, second and third places will be awarded in each category and one overall winner will also be recognized.

Scroll below to view the winning entries.

EWS - Lil Bias Purple Iris 2

Edgewood Summit (IL) – Lil Bias

EWS - Marguerite Walker 4 - Copy

Edgewood Summit (HC) – Marguerite Walker

Grandview- Dorothy Cox RV#1

Redstone Village (HC) – Dorothy Cox

Plaza Buckingham - Cohn 2 - Copy

Buckingham (HC) – Cohn

Querencia -Jack Puryear Master Work

Querencia (IL) – Jack Puryear

SM - Katy Zahner

Santa Marta (IL) – Katy Zahner

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.


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.


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.


Provider benchmark survey signals growth on the horizon

Following years of success in Arizona, the Ziegler and Greystone Executive Symposium (ZGES) left the desert in favor of the sunny shores of Bonita Springs, Fla. Nearly 100 professionals representing more than 35 organizations attended for three days of discussions, forecasting, networking and a tour of the nearby Terraces at Bonita Springs.

ZGES is an annual conference offering industry- and market-focused sessions for executives and board members of the nation’s leading CCRCs and sponsors.

“The 2015 Ziegler-Greystone Symposium exceeded our expectations,” said Mark Andrews, President and Chief Operating Officer of Greystone. “A record number of provider organizations attended. Their collective mindset is yet another indication that the pace of growth in senior living is quickly accelerating. They were constantly in action mode discussing strategy and tactics to grow, adapt and evolve with our dynamic market.”


In fact, providers showed just how ready they are to grow business in the results of our annual benchmark survey. The survey looks at how macro and industry trends impact providers, as well as the current issues on their radars and outlook on growth prospects.

Completed by operators representing more than 75 CCRC campuses, this year’s survey revealed:

  • 95 percent of respondents are currently planning or executing upon a redevelopment or expansion project
  • 85 percent are considering multiple growth initiatives, including expanding or redeveloping their existing campus, developing a new campus, or acquiring, partnering or merging with another entity
  • 85 percent said they would initiate expansion activities in their existing campus within three years; half said they would also pursue either redevelopment activities or new campus opportunities in the same time frame
  • For those interested in investing in a CCRC, the majority are drawn to moderately sized projects with project budgets under $100 million, targeted at the upper-middle market
  • 75 percent have a more optimistic outlook on the economy compared to last year, while the remaining respondents are unchanged
  • 65 percent see real estate values in their markets experiencing moderate improvements over pre-recession levels
  • The regulatory environment and reimbursement changes, competition from for-profits and real estate market fears top their list of concerns
  • Independent living move-in incentives remain a player with 90 percent of respondents indicating they have either maintained or increased their use of incentives

As we move further from the recession, providers are increasingly confident about the economy and showing a greater appetite for growth. These survey results further underscore the positive industry outlook shared by Greystone.


Greystone makes list of Top 50 operators

Greystone is the 25th largest senior housing operator in the U.S., according to the latest American Seniors Housing Association (ASHA) ranking. The ASHA 50 Owners and Managers is the definitive annual ranking of the nation’s 50 largest owners and operators of market-rate senior housing.

With more than 4,250 units, Greystone is in the top half of the 2014 list. Greystone moved up 9 spots from #34 in the 2013 rankings.