At LifeCare Properties, we pride ourselves on our steadfast commitments to integrity, knowledge, partnership, and results. These core values are the cornerstones of our journey in the commercial real estate industry, especially within the senior living sector. Our story is one of growth, innovation, and a dedication to enhancing the lives of seniors and their families. In this article, we aim to offer a deeper understanding of LifeCare Properties, shedding light on the guiding principles and strategic decisions that have shaped our path in senior living development.

Our journey began with a vision to redefine senior living development through innovative real estate solutions. Our roots are deeply intertwined with our parent company, COMVEST Properties, our strong foundation in the commercial real estate sector. Over the past 20 years, we have evolved, expanding our expertise across various real estate categories. Our growth reflects our commitment to excellence and our ability to adapt to the transformative changes in the investment real estate industry, and the changing needs of the markets we serve. With each project, we strive to set new standards in development.

Our vision is the driving force behind our every decision and project. We are deeply committed to serving our residents, their families, and the wider community by developing top-notch senior housing. Our focus is not just on growth, but on meaningful expansion through strategic partnerships and venturing into new markets with a keen eye for opportunity and innovation. We continuously explore new horizons in the industry, ensuring that we provide exceptional buildings and lifestyle options for seniors.

At LifeCare Properties, we recognize that the heart of exceptional development lies in the people who bring our vision to life. Our team, driven by passion and expertise, is the cornerstone of our operations. We foster a culture that prioritizes not only the acquisition of top talent but also the nurturing of their skills and passions. This focus on people extends beyond our organization to the creation of partnerships based on trust, mutual respect, and shared values. Our commitment to investing in our people and cultivating strong partnerships reflects our belief that the success of our communities is deeply rooted in the strength and dedication of those who work with us. Our leadership team is a mosaic of technical expertise and dedication, each bringing a unique set of skills and experiences that collectively drive our success. Together, this team embodies the culture of LifeCare Properties, combining diverse backgrounds to create a holistic approach to senior living development that is both innovative and deeply respectful of our residents.

Our strategic approach to business operations is a blend of meticulous market research, due diligence, development planning, and astute financial engineering. Our ability to proactively anticipate market challenges and navigate the complexities of project financing, ensures that each development not only meets the highest standards but also aligns with our return benchmarks and long-term vision. Our real estate operations are managed with precision, focusing on asset management to maintain and enhance the value of our properties. Through marketing and public relations, we are dedicated to building a robust brand identity. Our approach is not just about sustaining business growth; it is about fostering our communities and enhancing the lives of our residents through every aspect of our operations.

LifeCare Properties is poised for exciting growth and innovative projects. We are steadfast in our commitment to prudently expanding our reach, aiming to introduce our unique approach to senior living development to new markets. Our forward-looking vision is anchored in the belief that the senior living industry is not just evolving, but transforming. We are continually exploring new opportunities and partnerships that align with our vision, ensuring that we remain responsive to the changing needs of the aging population while maintaining our commitment to excellence in every aspect of our work.

Q:  What sets Lifecare Properties apart from other senior living community developers?

A:  Traditionally, senior living developers migrate to the sector from similar type asset classes – such as multifamily or student housing.

Our background is unique in that we were primarily retail real estate developers. Retail development for national credit tenants provides a great education in how to understand your target demographic, underwrite the markets and understand site selection. I believe this experience has translated well into our approach on identifying markets with a need for our target demographic and strong sites for our developments. In general, our non-traditional background gave us a fresh perspective on the development approach which seems to be working well for us.

Q:  What are the key financial challenges facing senior living community developers today?

A:  In my view, the largest financial headwinds that senior living developers are facing today are the cost of capital and tightening credit conditions on new deals.  The federal reserve began raising rates over the last 18-20 months to fight inflation.  Unfortunately for developers, these higher interest rate impacts flow throughout the entire development proforma – impacting everything from reduced loan proceeds on construction financing, tougher debt coverage covenants, reduced cashflow during hold periods all the way to lower exit pricing assumptions.  If you’re underwriting a new development proforma today, you must take these new realities into consideration which means fewer deals will “pencil” than before.  Understanding your numbers is more important than ever when evaluating a new development opportunity today.

It’s not all bad news though – the silver lining we have as senior housing developers is the ever-growing demand for the product due to the needs of our aging population. My view is these macro environment conditions are temporary, but the demand and “needs based” nature of our sector will ultimately provide enough tailwinds to justify new development.

Q:  How do you balance cost control with the need to provide high-quality amenities and services?

A:  Speaking from the development side, the most important thing when making cost control decisions is understanding what drives resident and staff satisfaction to allow both to be happy at your community. In development for example, many developers attempting to save costs try to furnish and select finishes in their buildings themselves or go cheap on furniture.  We take the opposite position in believing the finishes and furniture are a large part of the “wow” factor when someone tours or visits the community. We invest in high-quality interior designers (shoutout to Banko Design!) and high-quality furniture and fixtures to add a differentiating touch to our communities. These high-quality items ultimately pay dividends when potential residents and adult children tour the communities.

From the operations side, we are big believers in letting the on-site teams know they are appreciated.  During a tough construction or lease up moment – maybe we will take the team to dinners when we are in town. We also like to reward those team members financially for the hard work they do for the communities day in and day out. At the end of the day, while they technically work for our operator – we want them to know the ownership group sees and appreciates what they do to make the community successful.  If your onsite teams know they are appreciated, it flows through to resident satisfaction as well.

Q:  As Managing Partner, what is your vision for the growth of Lifecare Properties?

A:  We are very bullish on the long-term prospect of the need for senior housing in the future.  The growing demographic demand paired with a current pause by many developers is creating a widening shortage of senior housing units that will be needed to meet the needs of our seniors. I see us continuing to forge relationships with investors and lenders to prudently grow our development pipeline to do a small part in meeting the needs of our aging population.

Q:  What financial advice would you give to someone looking to invest in the senior living market?

A:  Take the time to understand the numbers. Senior living is technically a real estate asset class, but make no mistake – it’s essentially an operating healthcare business. You need to underwrite each market locally to determine local demand, labor costs, food costs, marketing budgets that will be needed, etc. in order to decide if the deal makes sense. Partnering with a good operating partner is absolutely key.

Q: What was the first way you made money?

A: When I was in the 4^th or 5^th grade, my mom and dad would buy large candy bags to keep at our house.   I remember bringing candy to school and selling it to other kids in my class.  Looking back now that was an incredible business because my parents paid for the inventory and I kept the sales proceeds – great margins!

Learn more about Daniel.

Every Thanksgiving, families come together to celebrate the holiday with traditions both old and new. We asked our LifeCare Properties team members about their favorite Thanksgiving memories, recipes, traditions, and more.

Do you have any unique or unusual Thanksgiving traditions in your family?

Jeremy: Mom is one of 9, big Catholic family.  So, our tradition is most of us no matter where we are in the world make it home for Thanksgiving.  We usually have 100 people, and we always have more food than we eat.

Wendy: Five generations have gathered at our southeastern Louisiana family home for Thanksgiving. Besides traditional dishes that must be served, we have after-dinner traditions. Years ago, Generations 3 and 4 would go on a Mistletoe Hunt – shooting mistletoe out of the tops of trees with our weapon of choice. These days, Gen 3 sits on the porch rubbing their bellies and telling tall-tales about the Mistletoe Hunts of days gone by. Meanwhile, Gens 4 and 5 hike down to the creek bottom, somebody always falls in a mudhole, and by the time we make it back to the house it’s time to start eating again!

Deborah: Try not to gain 5 pounds in one day.

Share a funny or memorable Thanksgiving misadventure or kitchen disaster.

Adam: A funny Thanksgiving memory – while we were sitting down eating an early Thanksgiving dinner, our neighbor’s son (who was probably 8 or 9 at the time) drove by in his mom’s minivan by himself (we could barely see him in the driver’s side window).  We watched as he drove up and down the street for 15 minutes.  Later we found out he stole the minivan and decided Thanksgiving Day would be a great time to learn how to drive.

Jeremy: Our biggest challenge is where to put all the food for 100 people.  Often, we have to make cold stations outside due to the kitchen being at maximum capacity.

Deborah: Gosh, where do I start with so many White Pillars Thanksgiving Day Buffets.

If you could invite any historical figure (living or deceased) to your Thanksgiving dinner, who would it be and why?

Brooks: My choice would be Sir Winston Churchill. Few figures in history have had the impact on the free world than Sir Winston Churchill. His early recognition that the German Empire was once again a major threat to all free people. My wife and I had the pleasure to visit the underground bunker and command center ‘The Churchill War Rooms’ of Sir Winston and his military and civilian advisors. The underground complex is located beneath the Treasury building in the Whitehall area of Westminster.

Jeremy: I would invite the late Benjamin Franklin, he would fit in well with the conversations, fun and beverages we favor during the day.

What’s your go-to strategy for dealing with post-Thanksgiving meal food comas?

Jeremy: Watch NFL.

Deborah: Watch college football and take many naps on the sofa.

Wendy: We go hiking or 4-wheeling.

If you could have a celebrity chef cook your Thanksgiving meal, who would it be, and what dish would you ask them to prepare?

Brooks: My choice for our guest celebrity chef to cook our Thanksgiving meal would be Chef Paul Prudhomme.  We would start with Chef Prudhomme’s Cajun Crab Cakes topped with Oyster Béarnaise, a fresh watercress salad with spicy toasted pecans, a generous sprinkle of St. James Cheese Company blue cheese, slow roasted Turducken with Chef Paul’s famous corn bread dressing and for dessert, Chef Paul’s Sweet Potato Pecan Pie.

Jeremy: Jose Andres, he has a great combination of creative and traditional cooking.  I would love to see his take on a stuffing.

Deborah: It would have to be Emeril and his Oyster Dressing.

Wendy: It would be really cool if Chef John Folse dropped in to whip up some of his Crawfish Bisque!

What’s the oddest or most unexpected item you’ve ever seen served at a Thanksgiving dinner?

Jeremy: My family does a pink salad for Thanksgiving and Christmas, not even sure what it is but I think it is a southern dish with more diary than I can afford.  In all the years we have served this dish I have never tried it.

Wendy: Let’s just say there’s a reason some cousins are asked to bring ice, drinks, or paper products. Bless their hearts.

Deborah: Chicken fried turkey breast – yack!

What’s the most outlandish or adventurous place you’ve ever celebrated Thanksgiving, and how was it different from a traditional celebration?

Brooks: As a small boy growing up in West Virginia, my grandparents treated our whole family to Thanksgiving Dinner at the Greenbriar Hotel. The meal was prepared by Master Chef Hermann G. Rusch and his staff. We had the remarkable opportunity to sample so many internationally famous foods, in the opulent Greenbriar Main Dining Room that was alive with Thanksgiving decorations.

Jeremy: We are lucky that in my entire life we only have had Thanksgiving away from our big family tradition once, during COVID.

Wendy: Waffle House. Don’t ask.

If Thanksgiving were a movie, which actors would you cast to play the main roles in your family’s Thanksgiving dinner scene?

Jeremy: The scenes from Christmas Vacation with the uncles, elders, dogs eating food is a fair comparison.

Deborah: Roy Rogers, Dale Evans, Gabby, Trigger, and Buttermilk.

What’s your best advice for avoiding awkward debates at the Thanksgiving dinner table?

Adam: Open up another bottle of wine.

Jeremy: Focus on being thankful and enjoying the rare moments of family vs. the tension of spirited topics.  So much more to discuss on this special day.

Daniel: Rule number 1:  The Thanksgiving Day Parade and Football are the only safe options on TV that day.   Say no to Fox News or CNN as those bring out the worst in folks in large groups.  Rule number 2:  Avoid the hot button issues in conversation.   These are traditionally religion, politics, and there’s inevitably a family “know it all” who will feel like they need to opine on everyone’s life choices or actions – avoid those topics and people and you should come out of Thanksgiving dinner unscathed and have a relaxing time.   If the above rules are broken by others and things get heated – you can always migrate to the recliner to watch Football or go sit at the kids table – it’s usually peaceful there!

Wendy: I redirect everyone’s attention to the untouched plate of cranberry sauce. Nothing moves my family to the same side of an issue faster than their shared disgust of cranberry sauce.

Deborah: Remove hearing aids.

Describe your ideal Thanksgiving nap location and position.

Jeremy: With so many people around, only a few uncles nap in a chair.  I would enjoy a couch nap with football on if that was possible one day.  I hope I never get to experience this.

Daniel: Once the dishes are done and crowds have cleared, fully extended on the couch would be my choice. 

Deborah: On my back, snoring, and on the sofa in front of the TV.

Wendy: Curled up with a well-worn quilt in a hammock under our massive pecan tree.

Pecan, pumpkin, or sweet potato pie?

Brooks: Chef Paul Prudhomme’s Sweet Potato Pecan Pie, simply no desert so filled with complex textures and taste.

Adam: Sweet potato.

Jeremy: Good question, we are a big pie family.  Derby pies are my favorite, which is a chocolate nut pie essentially.  Pecan is a crowd favorite overall.

Daniel: It’s hard to beat a good classic pecan pie.   Pumpkin is a close second, though.

Wendy: Pecan!

Deborah: Pumpkin.

Cranberry sauce, or no?

Brooks: Cranberry Sauce with Grand Marnier Cordon Rouge and a hint of fresh horseradish!

Jeremy: I do not eat cranberry sauce.

Wendy: Yes, please!

Deborah: It’s so good!

Share a Thanksgiving cocktail / mocktail recipe.

Jeremy: There is a bourbon cranberry cocktail that is popular in Kentucky for obvious reasons.  Sugar, orange juice, orange peels, fresh cranberries, and some good Kentucky bourbon (Blanton’s for me).

Daniel: I’m a simple guy – a quality bourbon with a couple ice cubes while watching Thanksgiving football is just right for me.

Wendy: Autumn Rum Punch: 2c apple cider, 1c orange juice, 1c cranberry juice, 1 pint Captain Morgan’s Spiced Rum, 2 sticks cinnamon, 1 each pear and apple cut in bite sized pieces, 1 sliced orange. Combine ingredients in a pitcher and chill 1 hour before serving.

Deborah: Cranberry Pear Ginger Fizz (Cranberry juice, ginger beer, pears, and limes, garnished with some whole cranberries and rosemary sprigs).

Why is the kid’s table the best seat in the house?

Jeremy:  With so many elders, our golden generation have the best table, room, place settings, first in line and waited on by all cousins all day.

Wendy: Back when we had a kid’s table it was always the best place to catch up on family gossip. Also, my nephews were perfect secret agents when it came to securing 2^nd or 3^rd portions of dessert for everyone at the kid’s table.

Deborah: Because they eat with without expectations.

From our family to yours, we wish you a Thanksgiving filled with gratitude, joyful memories and love. Happy Thanksgiving!

 

 

By D. Brooks Holstein, Founder and Managing Member of LifeCare Properties

The landscape of real estate investment is ever-evolving, shaped by myriad factors from technological advancements to shifting demographics. However, few forces impact the real estate market as profoundly as interest rate volatility. Their rise often sends ripples of apprehension through the investor community, and for a valid reason. As a developer of commercial real estate and senior living communities, I’ve witnessed firsthand the challenges—and opportunities—that fluctuating interest rates present. Let’s dive into the impact of rising rates on real estate investments and explore strategies to navigate this turbulent terrain.

1. Understanding the Impact

Interest rates are essentially the cost of borrowing money. As they climb due to the Federal Reserve policy or market conditions, so does the cost of acquiring and refinancing debt. For real estate investors, this translates to higher mortgage rates and stricter loan covenants, which can squeeze cash flows and reduce the overall return on investment. Furthermore, properties can appear less attractive to potential buyers due to the higher borrowing costs, leading to softer demand and potential declines in property values. Moreover, in the senior living communities’ sector, where financing is critical for both development and acquisition, rising rates can impede the progress of new projects and expansions.

2. Diversify, Diversify, Diversify

One of the cardinal rules in investment is diversification, and real estate is no exception. In the face of rising interest rates, it is essential to have a diversified portfolio to spread risk. Instead of focusing solely on one property type or one geographic area, consider broadening your horizons. For instance, while I have a deep-rooted passion for developing resort-style senior living communities, I also understand the importance of exploring other real estate sectors, from commercial spaces to multifamily units. Different property types can react uniquely to interest rate fluctuations, providing a balanced reaction to market and financing risk.

3. Lock-In Favorable Terms Early

Interest rates can be unpredictable, even with the most astute market forecasts. One way to mitigate the risk of sudden spikes is to lock in favorable financing terms when the opportunity arises. This could mean refinancing existing properties at a fixed rate or securing long-term financing for new acquisitions before rates climb further. In the senior living communities’ space, with its capital-intensive nature, locking in a good rate can be the difference between a project’s success and stagnation.

4. Focus on Value-Add Opportunities

In a high-interest rate environment, pure appreciation plays might not be as lucrative. Instead, real estate investors should focus on value-add opportunities where they can actively boost a property’s value through improvements or operational efficiencies. In the realm of senior living, this could mean renovating facilities, offering new amenities, or streamlining operations to enhance resident experiences. By adding tangible value, investors can command higher rents or sales prices, offsetting the increased borrowing costs.

5. Stay Educated and Vigilant

Lastly, staying informed about current financial markets is paramount. Interest rates do not operate in a vacuum. They are influenced by broader economic indicators, central bank policies, and global events. As real estate investors, it is crucial to keep an ear to the ground, continuously educating ourselves about the macroeconomic environment. By doing so, we can anticipate potential rate hikes and strategize accordingly. Additionally, building strong relationships with financial advisors, bankers, investment sales specialists, and industry peers can provide valuable insights and opportunities.

While rising interest rates can pose challenges to the real estate investment landscape, they also present opportunities for the astute investor. By understanding the implications, diversifying portfolios, securing favorable financing, focusing on value-add strategies, and staying informed, we can not only navigate these challenges but also uncover avenues for growth and success. In the world of real estate, as with life, it is not the challenges we face but how we respond to them that defines our journey.

Q: Describe your role as Managing Partner / Director of Development at LifeCare Properties. What are your primary responsibilities and day-to-day activities?

A: My role as the Director of Development at LifeCare Properties is multifaceted and fairly dynamic. I oversee the planning, design, and execution of our senior living projects from concept to completion. This involves collaborating with various teams, including architects, contractors, and consultants, to ensure that our projects are successful.

Q: LifeCare Properties is known for its commitment to creating exceptional senior living environments. Can you elaborate on the company’s mission and values, particularly in the context of development?

A: LifeCare Properties is committed to creating exceptional senior living environments that promote wellness, comfort, and a high quality of life for our residents. Our mission revolves around providing seniors with a supportive and enriching lifestyle. We value compassion, respect, and dignity. In the context of development, we strive to incorporate these values into every aspect of our projects, ensuring that our communities are not only architecturally and functionally exceptional but also emotionally and socially enriching for our residents.

Q: Dealing with regulatory compliance is often complex in the senior living industry. How do you ensure that LifeCare Properties’ developments adhere to local zoning regulations and licensing requirements?

A: It would be impossible to be an expert on local and state regulations across the country so it’s always my preference to seek out the best consultants and experts that specialize in this.  It makes the process more efficient and helps mitigate risks and challenges that arise.

Q: How does LifeCare Properties stay at the forefront of senior living trends and continuously adapt to the changing needs and expectations of senior residents?

A: We stay in constant contact with our Operations, Interior Design, Architecture, and other partners as to what they are seeing and designing into their projects.  We also are continually researching and trying to learn what others are doing and are always striving to improve our projects.

Q: Finally, what advice would you offer to other professionals looking to pursue a career in development, based on your experience in this field?

A: There are many paths to getting into development but in my opinion, starting with a strong educational foundation and then doing whatever it takes to get a job directly into the development field to accelerate your experience is the path to take.  I would either try and work with a larger firm to see a high volume of projects to grow your skillset with volume and contacts or get on with a smaller boutique firm to be able to advance more quickly and handle every facet of development with hands on experience.  I’ve tended to enjoy working at smaller firms but see pros and cons for each path.

Q: One more thing, what fact about your life would most impress your five-year-old self?

A: Probably that grown-up me currently has two children and that one is his same age.  He is into the same things that I was growing up, so I’d like to think they would’ve been great friends.

Learn more about Adam.

Commercial real estate investors are constantly on the lookout for unique and lucrative investment opportunities. One such opportunity that has been gaining momentum in recent years is senior living communities. These communities, tailored to the needs and desires of aging individuals, have not only become essential for seniors but have also proven to be a sound investment choice for real estate investors. In this article, we will delve into the reasons why senior living communities are becoming a hotspot for commercial real estate investors.

Senior living communities are a unique sub-sector within the real estate industry. They cater to the growing population of seniors who seek a comfortable, engaging, and secure environment in their later years. With the baby boomer generation entering retirement, there is an increasing demand for these communities. This growing demand translates into a steady and often increasing revenue stream for investors.

Moreover, senior living communities offer investors multiple revenue streams. Unlike traditional residential real estate, these communities often provide rental income from a combination of residential units, along with additional fees for services such as healthcare, dining, and recreational activities. This diversity in income sources can provide investors with financial stability, even during economic downturns.

Additionally, there is a sense of social responsibility associated with investing in senior living communities. These investments not only offer financial returns but also contribute to the well-being of seniors, helping them lead fulfilling lives in their retirement years. This dual benefit of financial returns and social impact can be a compelling reason for investors to consider senior living communities.

Investors should be aware of the specific considerations and risks associated with senior living communities. These include regulations and compliance standards for healthcare services, the need for well-trained staff, and the unique design and management requirements of such communities. However, with the right partners and a well-researched investment approach, these challenges can be managed effectively.

Senior living communities represent a compelling and potentially lucrative opportunity for commercial real estate investors. The combination of a growing senior population, diverse revenue streams, and the chance to make a positive impact on the lives of seniors makes this investment sector worth serious consideration. As with any investment, due diligence and a deep understanding of the industry are essential for success. By exploring this niche within commercial real estate, investors can align their financial goals with a sense of social responsibility, creating a win-win scenario for both their portfolios and the senior residents they serve.

Our mission at LifeCare Properties is centered around four key pillars: service, growth, people & talent, and trust. These pillars guide our actions and decisions as we strive to make a positive impact on the lives of our residents, their families, the communities we serve, our associates, and our partners.

SERVICE

Service to our residents, their families, area neighborhoods, associates and partners drives everything we do. Nothing can be accomplished without this shared mission and obsession with elite customer service. LifeCare is dedicated to be of service to those in need and with whom we partner.

GROWTH

LifeCare’s mission to achieve exponential growth by forming strategic partnerships allows us to responsibly build new communities in new markets positioned for economic success due to unmet needs in senior housing and integrated healthcare services.

PEOPLE & TALENT

Nothing comes easy in senior living day to day operations. We understand fully how difficult the job is and how passionate those who serve in senior living are. LifeCare appreciates this commitment by those who work in our communities and through our operator. Our mission is to always be “a culture of people first” as we seek talent who want to join the struggle and rewards of serving seniors.

TRUST

LifeCare chooses our partners through the lens and mission of trust. We only work with leaders who mirror the standards to which we hold ourselves accountable. Life and business are both challenging already. We demand the same respect and trust of all partners and can be relied upon to reciprocate those values.

At LifeCare Properties, we are committed to fulfilling our mission and creating a beneficial impact on the lives of our associates, collaborators, and the communities we build.

Incorporating Engaging Amenities to Foster Community and Connection

As senior living developers, we aim to create a resort-style experience for our residents that fosters community and connection. Our operator, Blake Management Group (BMG), blends southern sensibilities with compassionate care.  To transform an operational building into a resort-style retreat, incorporating engaging amenities is key.

Outdoor Spaces

Visit a Blake community and immediately you will notice a difference. Outdoors, landscaping and courtyards are lush and neatly maintained. Creating inviting outdoor areas encourages social interaction and enjoyment of nature. We include landscaped courtyards, porches, and balconies with places to sit, relax, and engage with others.

Activity and Wellness Areas

Including dedicated areas for hobbies, entertainment, exercise, and wellness helps combat isolation and promotes healthy, active lifestyles. Our Blake communities incorporate activity studios, theaters, fitness centers, salons, and more. Offering daily activities and social events in these spaces, organized by dedicated lifestyle staff, gives residents opportunities to pursue interests and make meaningful connections.

Dining Venues

Providing varied, high-quality dining options in an upscale yet comfortable setting is central to a luxury experience. Our Blake communities offer restaurant-style dining with nutritious chef-prepared meals, bistros for casual fare, café bars for drinks and snacks, and private dining rooms for special events. Multiple venues and flexible meal plans suit residents’ preferences and foster community over meals.

Transportation

Socialization is crucial to a rewarding life. Convenient transportation to off-site locations enhances freedom and connectivity. Our Blake bus provides shuttle services to dining, shopping, entertainment, medical care, and more.  For those still driving, ample parking is available onsite.

Through intentional design and programmatic elements focused on engagement, community, and wellness, we create spaces where meaningful life experiences and personal growth continue as Blake residents age in place. As senior living developers, our goal is simple: to make the twilight years the highlight years.

Visit our Community Gallery

ICYMI: “From Functional to Fabulous: Elevating Senior Living” Blog Series Schedule

Part 1: Creating a Resort-Inspired Atmosphere Through Architectural Details

Part 2: Optimizing Operational Spaces for Luxury Living Experiences

Part 3: Selecting High-End Interior Finishes to Elevate the Environment

Selecting High-End Interior Finishes to Elevate the Environment

Through careful selection of materials, furnishings, and decor reflective of the region and residential living, LifeCare Properties strives to elevate utilitarian spaces into exceptional communities that nurture both the body and the spirit. Our goal is for residents and families to feel enveloped in an upscale environment from the moment they walk through the front entrance.

LifeCare has partnered with award-winning Banko Design for our Texas communities. We asked Melissa Banko, principal and founder of Banko Design, to share her team’s philosophies and intentions when designing upscale environments for seniors.

“Senior living, although it provides care, should never look institutional so the finishes and furniture must be residential in look but commercial in construction. Banko has coined the phrase “resi-mmercial” design. That’s the blend of both,” Banko explains.

“Commercial spaces can be tricky to dress as they present much more volume than a single-family residential dwelling. For a space to be inviting, cozy, and scaled appropriately it must be designed with measure in mind – right down to the size of each tile, the scale of wallcovering prints, and the size of ceiling moldings. Finishes and furniture should support and highlight the scale and geometry of the space.”

“Finishes, lighting, and furniture are all elements that residents, and their guests, engage and interact with. So, to provide a comfortable space and an environment where users can thrive – those design elements must be thoughtful, intentional, usable, and appropriate,” she continues. “Banko and LifeCare believe that each building should have its own personality, narrative, and sense of atmosphere. This can be done while maintaining a brand quality and portfolio identity. Finishes and specification of FFE, right down to the accessories and art, must support the story of the design, the area, and the resident.”

She adds, “Walls need to be designed with a mix of millwork, texture, acoustics, key design moments, and ART! These design elements drastically change the style and mood of a space. They also help drive the light level. Too much of a good thing can be bad – so walls should have a variety of looks and personality infused into them. Ceilings and walls should be “broken down” with variations in depth as well as a rhythmic undulation.”

“Ceilings should be addressed and staged, with just as much thought as any other surface (if not more in our opinion),” Banko contends. “As we age, we naturally look down to “watch our step” and guide our bodies better. Why not give our residents and guests something to look up to? Ceilings also provide a HUGE opportunity to solve acoustical issues in large spaces. As we age our hearing decreases, so our job is to provide spaces our seniors want to hang out in but are also CONFIDENT to engage with. Lighting is the jewelry to the outfit and it can make or break the look. Light levels must be appropriate and RIGHT for use and demographic, too.”

In 2022, Banko Design was awarded the Bronze Award in the Multifamily Senior Living category by the American Society of Interior Designers (ASID) for The Blake at Waco.

“The Blake at Waco was idealized for seniors seeking a 24/7 unmatched care experience with resort-style comfort and service,” said Brooks Holstein, founder and managing partner of LifeCare Properties. “The team at Banko Design far exceeded this mission. From their thorough planning to intricate detailing, they have created an unrivaled atmosphere that feels like home to residents.”

Banko says, “Luxury senior living should mirror a resort, with finishes and FFE that have a common thread, a thematic nature but each room rendering its own program and purpose. Finishes and FFE in a space, if done well, will provide rhythm, scale, texture, allure, function, and comfort – a space that residents and guests can’t wait to get back to. Create a physical space that successfully provides these key design ideals and watch and see what it does to one’s mental clarity, general mood, mindset, personality, and happiness!”

The designer concludes, “As we age our eyes change in the way we process color, we see the world in a warmer and more yellow state. That’s why it’s called “the golden years”.  In a LifeCare building – we have this in mind when we design. We want EVERYONE TO FEEL GOOD IN these spaces. Color tones, palettes, fabric patterns, layouts, and specifications of all interior finish materials are thoughtfully chosen with our guests in mind.”

 

Visit our Community Gallery

ICYMI: “From Functional to Fabulous: Elevating Senior Living” Blog Series Schedule

Part 1: Creating a Resort-Inspired Atmosphere Through Architectural Details

Part 2: Optimizing Operational Spaces For Luxury Living Experiences

Optimizing Operational Spaces for Luxury Living Experiences

In the pursuit of crafting exceptional senior living experiences, our focus has become optimizing operational spaces. The integration of design, functionality, and efficiency plays a crucial role. Meticulous attention is given to every square foot, enhancing the overall living experience, and ensuring residents a world of comfort and convenience.

Through innovative design, state-of-the-art technology, and an unwavering dedication to perfection, operational spaces are transformed into havens, consistently pushing the boundaries of senior living.

Allowing ample natural light into spaces illuminates the environment and provides a cheerful ambiance for residents and staff. Strategically placing large windows, skylights, and glass walls or doors in areas like activity rooms, dining rooms, lobbies, and hallways creates the open, airy feel of resort-style living.

While we place importance on creating a pleasant atmosphere, it is crucial to prioritize operational functionality. This involves incorporating various features such as spacious doorways and hallways, slip-resistant flooring, robust handrails, and inconspicuous emergency call systems. By doing so, we ensure that accessibility, mobility, and safety are maintained at a high level for both residents and staff members. It is essential to seamlessly integrate these crucial elements into the overall design to preserve a resort esthetic while also prioritizing practicality.

Crafting a resort-style ambiance within an operational facility requires a careful blend of luxurious living experiences and practical functionality. When we strategically optimize natural light, communal spaces, accessibility, and safety measures, we create a community that is both functional and beautiful.

 

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ICYMI: “From Functional to Fabulous: Elevating Senior Living” Blog Series Schedule

Part 1: Creating a Resort-Inspired Atmosphere Through Architectural Details

 

Creating a Resort-Inspired Atmosphere Through Architectural Details

Senior living development is evolving beyond traditional functional design to create resort-inspired atmospheres for residents. Through careful attention to architectural details, LifeCare Properties is building award-winning upscale assisted living and memory care communities.

Attention to Facades and Entryways

First impressions matter. We use striking facades and entranceways featuring stone, wood, and metal accents to convey an immediate sense of prestige upon arrival. The moment a prospective resident or their family walks through the front doors, the lobby evokes a welcoming yet upscale ambiance. From the furnishings and finishes to the vaulted ceilings, regional influences are reflected in textures and tones.

 

Premium Common Areas – Indoors and Out

We maximize natural light with expansive windows and open floor plans that feel reminiscent of a resort. Lounges, libraries, dining rooms, and other gathering areas are spacious, comfortable, and well appointed. By incorporating wide hallways, minimal interior walls, and seamless transitions between indoor and outdoor spaces, we create unobstructed sightlines. Furthermore, we integrate outdoor amenities such as porches, balconies, and landscaped courtyards.

Upscale Residences

Floor plans range from studios to two-bedroom residences. High ceilings and traditional millwork add to the sense of spaciousness, while walk-in closets and pantries offer plenty of storage options. Gourmet kitchenettes with quartz countertops, stainless steel appliances, and spacious en-suite bathrooms elevate the sensory experience. Open-concept designs with high-end finishes, lots of natural light, and balconies or patios overlooking courtyards give apartments a residential feel.

Our approach to developing senior living communities is centered around the belief that seniors deserve more than just a place to live; they deserve vibrant, inspiring, and engaging environments that meet their aspirations for independence, beauty, and leisure. By integrating natural light, openness, premium finishes, and outdoor amenities, we aim to elevate the standard of senior living and fulfill our mission of creating resort-style communities where seniors can truly thrive and enjoy their golden years.

 

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ICYMI: “From Functional to Fabulous: Elevating Senior Living” Blog Series Schedule

At LifeCare Properties, we understand the importance of transforming operationally functional building design into senior living experiences that offer a high-end lifestyle. We are pleased to introduce our four-part blog series From Functional to Fabulous: Elevating Senior Living.

In this series, we will explore the strategies and solutions we employ to transform senior living into a resort-style experience. Through creative spatial layouts, upscale finishes, state-of-the-art amenities, and a hospitality-focused service model, we craft environments that consistently exceed expectations.

To transform operationally functional buildings into luxurious, resort-style communities, we focus on several key areas.

• We evaluate how space is allocated and used. In the past, maximizing the number of units was the priority. We look for opportunities to create more open, flowing spaces that encourage social interaction and a sense of freedom. This could mean widening hallways, opening sightlines between spaces, and offering a variety of unit layouts.
• We make strategic upgrades to materials and furnishings, replacing industrial flooring, walls, and ceilings with a combination of textures and tones that reflect regional influences. High-quality yet comfortable furniture, décor, lighting fixtures and plumbing hardware makes spaces feel residential rather than institutional.
• We optimize the functional aspects of the building design, maximizing natural light and enhancing common areas while prioritizing accessibility and safety.
• We incorporate amenities and services one would find at a luxury resort. Chef-prepared meals, concierge services, transportation, courtyards, salons, fitness studios, recreation and entertainment options transform senior living communities into coveted destinations.

Our goal is simple: to create beautiful communities where people thrive.

Beginning September 20^th and running through October 11^th, a new installment will be available on  Wednesdays on our Blog, Thursdays on LinkedIn, and Fridays on Facebook as follows:

Week of September 20^th Part 1: Creating a Resort-Inspired Atmosphere Through Architectural Details

Week of September 27^th Part 2: Optimizing Operational Spaces for Luxury Living Experiences

Week of October 4^th Part 3: Selecting High-End Interior Finishes to Elevate the Environment

Week of October 11^th Part 4: Incorporating Engaging Amenities to Foster Community and Connection

We are proud to deliver spaces that inspire, invigorate, and uplift the human spirit. Be sure to bookmark our page and join us over the next several weeks for our series From Functional to Fabulous: Elevating Senior Living.

Interstate 35 is the economic heart of the Texas. This north-south artery pumps life into industries, attracting companies, talent, and investment. For entrepreneurs, recent college graduates seeking job opportunities, or established professionals ready for new challenges, the I-35 corridor is the place to be. In this article, we will explore the major metros, companies, and demographics of the economic powerhouse that is I-35.

In 2014, the 21 counties along I-35 encompassed almost 40 percent of the Texas population and over 40 percent of Texas jobs. Population and employment along the I-35 corridor are projected to increase by 82 percent and 77 percent, respectively, by 2040. Rapid and steady population growth, coupled with a highly educated workforce makes the region ideal for long term investment. The future is here, and it is happening along I-35.

The I-35 Corridor: A Vital Transportation Artery in Texas

As the central corridor running north to south through Texas, Interstate 35 is a vital transportation artery for people and commerce. Over its 778 miles spanning from Laredo to Duluth, Minnesota, I-35 moves millions of vehicles each year and serves as an economic engine for cities along its path.

In Texas, I-35 connects four of the state’s largest cities: Laredo, San Antonio, Austin, and Dallas-Fort Worth. This corridor is experiencing massive growth, with an increasing flow of trade, investment, talent, and innovation between cities. Dubbed the “NAFTA Highway” I-35 transports goods and services from Mexican and US companies alike. It is a crucial channel for Texas’ import and export activities with its largest trade partner, Mexico.

Key Cities and Regions Seeing Massive Growth Along I-35

The I-35 corridor in Texas is home to some of the fastest growing cities and regions in the U.S. Several key areas along I-35 are experiencing massive population, job, and economic growth.

According to Forbes, Joel Kotkin, who is recognized as a leading expert in geography, stated that if one were to search for the next major American urban area, the emerging San Antonio-Austin corridor would be a prime choice. Kotkin highlights the presence of universities, affordable land costs, and flourishing job opportunities as key factors contributing to the sustained growth in this region.

Austin-Round Rock

The Austin-Round Rock metro area has been one of the fastest growing in the country for decades. Major employers like Dell, IBM, Apple, and Amazon have large presences here. The area is a hub for technology, business, healthcare, education, and transportation.

San Antonio

San Antonio, home to five military bases and a large healthcare/bioscience industry, has also seen substantial growth. According to a recent U.S. Census report, the city is also the 3^rd fastest-growing city in the nation. Tourism flourishes around the Alamo and River Walk. Low costs of living and doing business have attracted major companies like Toyota, Medtronic, and Capital One.

Dallas-Fort Worth-Arlington

The Dallas-Fort Worth-Arlington metro area is an economic powerhouse and logistical hub. Major airports and highways like I-35 connect people and commerce. Growth in finance, technology, transportation, and population has earned Dallas the nickname “Silicon Prairie”. Fortune 500 companies based here include ExxonMobil, AT&T, and Southwest Airlines.

Waco

Centrally located Waco is home to Baylor University and a growing hub for manufacturing, healthcare, technology, and transportation/logistics along I-35. Waco’s lower costs of living and revitalized downtown are attracting new residents and businesses.

In short, cities and regions along I-35 in Texas are experiencing massive growth thanks to business-friendly environments, skilled workforces, lower costs of living, and location along a major transportation corridor.

Industries Driving Economic Development in the I-35 Corridor

Manufacturing has a long history in the region and continues to expand. Major manufacturing industries include aerospace, automotive, biotechnology, and telecommunications equipment. Top employers include Toyota, GM, and Lockheed Martin. These large companies also support networks of smaller suppliers and vendors.

Technology is a fast-growing sector, especially in Austin, nicknamed the “Silicon Hills”, where Tesla, Dell, IBM, Apple, Amazon, Oracle, and other tech giants have a major presence. Austin is also a hotspot for startups and entrepreneurs. The tech industry brings high-paying jobs and attracts a young, educated workforce.

Healthcare is another economic driver, with major hospitals, research centers, and healthcare companies based along I-35. Top employers include Baylor Scott & White Health, Dell Seton Medical Center, and MD Anderson Cancer Center. An aging population and increased access to insurance have fueled growth in the healthcare industry.

Warehousing and distribution have expanded rapidly to serve San Antonio, Austin, and Dallas. Major distribution hubs for companies like Amazon, UPS, and FedEx are located along the corridor. As e-commerce and same-day delivery increase, demand for warehouse space and workers will continue to rise.

In addition, education, finance, tourism, and corporate headquarters are significant contributors. Major universities like UT Austin and UT San Antonio also support economic activity.

With a strategic location, skilled workforce, pro-business environment, and variety of thriving industries, the I-35 corridor is poised for ongoing prosperity and development. By facilitating connections between cities and enabling the flow of goods, capital, and people, Interstate 35 itself has been instrumental to growth along its path through Texas.

Demographic Changes Fueling Population Growth Along I-35

The Interstate 35 corridor in Texas has experienced significant demographic changes that are fueling major population growth.

Age Distribution

The age distribution along I-35 is trending younger. The median age in cities along I-35 is 1-3 years younger than the national median age of 38.2 years. The largest age group is 25-44 years old, comprising 27-30% of the population in major metros like Austin, Dallas and San Antonio.

The younger population is attracted to the major cities along I-35 for several reasons, including job opportunities, an affordable cost of living, and an vibrant culture. The influx of young, educated workers is driving economic growth through increased productivity, innovation, and entrepreneurship.

Racial and Ethnic Diversity

The racial and ethnic makeup along I-35 is becoming increasingly diverse. The white population is declining as a percentage of the total population, while the Hispanic and Asian populations are growing significantly. In Austin and San Antonio, over 60% of the population growth from 2000 to 2010 was due to an increase in the Hispanic population.

The greater diversity brings economic benefits like increased trade, cultural exports, and human capital. However, it also brings challenges like language barriers, income inequality across groups, and cultural tensions that must be addressed to maintain social cohesion.

Educational Attainment

Educational attainment along I-35 is rising steadily. The percentage of residents with a bachelor’s degree or higher is increasing in major metros, and significantly outpacing the national average. In Austin, 43.5% of residents have at least a bachelor’s degree, compared to 31.5% nationally.

A more educated workforce is beneficial for economic growth, as workers can take on higher-skilled, higher-paying jobs. Educated populations also tend to be more entrepreneurial, with higher rates of business formation and innovation. Continued investment in schools and universities along I-35 will be crucial to developing human capital and sustaining long-term economic prosperity.

Conclusion

Approximately 86% of the total Texas population is located in counties along and to the east of I-35, forming a crucial corridor for economic activity and growth in the state. From Dallas-Fort Worth in the north to San Antonio and Austin in the south, businesses of all kinds have located along this highway to tap into the resources, talent, and opportunities it provides. The cities and towns along I-35 have cultivated diverse, thriving economies that continue to attract investment, create jobs, and support local communities.

As developers specializing in resort-style senior living, we recognize the strong correlation between social engagement and the well-being of residents. Creating physical spaces that promote social interaction is crucial for upscale senior living communities that prioritize active lifestyles. Our approach involves incorporating amenities and award-winning designs that intentionally foster interaction.

Residents want to remain vibrant and connected as they age. Thus, gathering areas are carefully crafted to encourage connection. Grand common rooms with comfortable seating, natural light, and pleasant views bring residents together in both planned activities and casual, serendipitous encounters.

Daily activities cater to a diverse range of interests, just like the environments in which they take place. State-of-the-art fitness studios offer both individual therapy sessions and group exercise classes. Theaters allows residents to attend films, performances, or relax in comfortable recliners. Private nooks provide space for intimate conversations away from the main flow. Lounges, libraries, and chapels provide areas for both solitary relaxation and social mingling.

Outdoor spaces are just as thoughtfully designed. Landscaped courtyards allow residents to socialize while taking in fresh air and scenic beauty. One courtyard features a bocce court to provide friendly competition. The other offers a customized outdoor space for memory care residents.

From fresh flowers on the tables to the menu selections, dining reinvents the traditional senior living experience. A restaurant-style dining room sets a relaxed tone over chef-prepared meals. Private dining rooms can host special events from wine tastings to family gatherings. A casual bistro offers coffee and snacks throughout the day for impromptu meetups.

The resort-style amenities provided by LifeCare Properties promote a strong sense of community and contribute to the well-being of seniors who lead an active lifestyle. The thoughtful design of our properties ensures that residents are always encouraged to participate in shared experiences within beautiful and comfortable spaces.