The 234 Apartment

Manhattan is about to become a testing ground for what could be the next luxury real estate boom . Well, maybe mini-boom, considering the rather narrow target group : frail urban seniors with fat bank accounts . Developers are spending hundreds of millions on high-end assisted- living apartment projects , one on the Upper East Side and one in Midtown, and aiming for more in the area and across the U.S. The bet is that there are sufficient numbers of the affluent and aging in big cities who won't want to leave their neighborhoods, even as they suffer cognitive decline . It is, of course, a rather small group of any age or mental ability that can handle the monthly rents these kinds of places will command. They'll start at $12,000 at the complex that Maplewood Senior Living and Omega Healthcare Investors Inc. are putting up on Second Avenue and 93rd Street. Some will top more than $20,000 at the building Welltower Inc. and Hines are about to break ground for on the corner of ...

(Bloomberg)—Manhattan is about to become a testing ground for what could be the next luxury real estate boom . Well, maybe mini-boom, considering the rather narrow target group : frail urban seniors with fat bank accounts . Developers are spending hundreds of millions on high-end assisted- living apartment projects , one on the Upper East Side and one in Midtown, and aiming for more in the area and across the U.S. The bet is that there are sufficient numbers of the affluent and aging in big cities who won’t want to leave their neighborhoods, even as they suffer cognitive decline . It is, of course, a rather small group of any age or mental ability that can handle the monthly rents these kinds of places will command. They’ll start at $12,000 at the complex that Maplewood Senior Living and Omega Healthcare Investors Inc. are putting up on Second Avenue and 93rd Street. Some will top more than $20,000 at the building Welltower Inc. and Hines are about to break ground for o...

NEW YORK – Aug. 22, 2017 – With all the talk about aging baby boomers and life- extending health care advances , it might be a bit bewildering deciding which seniors housing assets are best primed for success. Lee Everett, managing consultant at research firm CoStar Portfolio Strategy , might be able to provide some clarity. Two product types – active adult communities and continuing care retirement communities (CCRCs – will be the winners in the seniors housing race both in the short and the long term, Everett says. Everett and his CoStar colleagues are bullish about active adult communities , which are age-restricted developments that offer an independent lifestyle and relatively maintenance-free housing. Growth in this segment is "just around the corner," with more baby boomers getting older and seeking alternatives to traditional homes and apartments. "We're looking at a period where there's going to be a lot of fast and explosive growth in active a...

GREENVILLE, S.C. (AP) — A Texas real estate services provider plans to add 150 jobs in South Carolina . The Greenville News reported that RealPage plans to add the jobs at its customers-contact center in Greenville next year. RealPage offers business -to-business and business-to- customer services for the rental housing market , from senior living centers to student apartments. Company vice president Randy Johns said the business has 350 employees in Greenville now. The employees answer phone calls , emails or instant messages 24 hours a day from renters or potential renters about available properties or maintenance on properties owned by RealPage's customers. ___ Information from: The Greenville News , http://www.greenvillenews.com

At her 33rd appearance as Subject 16019 in a clinical trial of an experimental drug she hoped would fix "this little problem with my memory," Sandra Brannon sank into a medical exam room 's recliner and waited. "What's the date again?" Sandra asked me. I had escorted her to a wing at Bellevue Hospital Center in Manhattan, where the NYU Langone Medical Center was among 210 institutions worldwide conducting the trial. As a family friend, I was standing in for Sandra's only child and chief caregiver, who had business elsewhere that morning. "November 18th," I answered. I'd responded to the same question from Sandra four times during our 27- minute subway ride to a stop a few blocks from Bellevue. "Right. Got it." Sandra scribbled my reply on her cheat sheet as a nurse bounded through the door to prep her for her monthly intravenous infusion of solanezumab, which Eli Lilly developed to target mild cognitive impairment caused ...