- Senior Housing News published a list of anticipated trends for 2024, including the potential for larger markets returning to pre-pandemic occupancy, assisted living overtaking independent living as the most prevalent senior housing offering, more operators offering discounts and concessions to residents and the continued rise of luxury senior living accommodations.
- UC Davis Health and AKT Investments have proposed a master-planned community focused on healthy aging east of Sacramento, CA. The project would span 2,800 acres and would include 8,000 housing units, commercial and industrial sites and a 200-acre UC Davis Health complex with health facilities, skilled nursing, medical education and research space.
- Health providers have until December 31, 2024, to plan and break ground on projects in order to be eligible for Inflation Reduction Act (IRA) funding. The IRA made billions of federal dollars available for a variety of tax-exempt entities, including health providers, to put toward investments in improving efficiency and energy infrastructure, such as micro-grids at hospital facilities.
- A former U.S. Marine hospital in Louisville, which originally opened in 1852, recently obtained a grant to fund renovation projects and ultimately restore the building as a medical facility. Family Health Centers is in the process of taking ownership of the facility to launch more renovation and restoration projects.
- Lifespan Health (Providence, RI) is considering a $300M tax-exempt bond issuance to fund several projects, including construction, expansion, remodeling and renovations.
- A recent report predicted that health care M&A in 2024 will primarily be driven by three factors: (1) market dynamics and funding challenges; (2) a rise in the use of consumer-oriented health care technologies (e.g., One Medical); and (3) collaborations for digital solutions and emerging technologies (e.g., Google/Mayo Clinic).
- An Iowa newspaper published a report examining the difficulties experienced by one health provider in managing a recent large construction project. The piece serves as a case study of how such projects can exacerbate uncertainties regarding who owns certain responsibilities and how the owner and contractor will handle changes in cost, scope and timing as the project unfolds.
- Pennsylvania is investing $2.6B of American Rescue Plan funding to expand access and support of its home and community-based services workforce, including raising wages for 55,000 direct care workers and recruiting and training thousands more.
- According to a research report, mental health care telehealth visits have increased tenfold, and in-person visits increased 80% since the onset of the pandemic. This provides an area of focus for real estate developers and investors, but hurdles persist, such as access to capital.
- A recent Harvard report indicated that housing and health care are becoming more unaffordable and inaccessible for older adults. Zoning reforms, housing financing incentives, a wider range of housing options and better coordination of health and housing support programs are among the strategies the report suggests to address the shortfall.
For more information on real estate matters, please contact:
- Andrew Dick at adick@hallrender.com or (317) 977-1491;
- Joel Swider at jswider@hallrender.com or (317) 429-3638; or
- Your primary Hall Render contact.
Hall Render blog posts and articles are intended for informational purposes only. For ethical reasons, Hall Render attorneys cannot give legal advice outside of an attorney-client relationship.
