UNIT RENOVATIONS AT HOLLY CREEK SENIOR LIVING
General contractor and construction partner, Global Construction, completed unit renovations at senior living facility, Holly Creek, to bring units up to date and help maintain property value. In doing so, property owner, Christian Living Communities, has been able to grow entrance fees and monthly rates to better reflect the quality of living and amenities at their Centennial, CO property.
Holly Creek Senior Retirement Community, located in Centennial, Colorado, sits on 17 acres of land and offers a wide range of living arrangements for seniors; from independent living in both apartment-style units and single-family cottages, to assisted living, and memory care. Built in 2005, the property is owned and operated by Christian Living Communities and was later expanded in 2008.
READY FOR A REFRESH
Thriving senior living and retirement communities are not known for high tenant turnover like we see in the multifamily space. Instead, seniors tend to age in place and only move when absolutely necessary. Modern senior living communities like Holly Creek are designed with this in mind and make transitioning from independent living to assisted living and memory care, when necessary, as painless as possible.
Units are seldom freed up meaning the renovation process can be drawn out. We often see units from these types of properties on a 10 to 15 year renovation cycle compared to the 3 to 5 year cycle in the multifamily space. Because of this, it can be challenging to keep these properties up to date as the design of two units can range vastly. It is key for property owners to be ready for renovations when a unit does free up to maintain property value and keep tenancy rates up.
“Coordinating independent living renovations can be a major challenge. The GC has to work together with the designer, architect, owner, executive director, resident, and more; this makes it all the more more rewarding to see a project come together in the end.”
– Erik Good, VP of Development at Kapella Group
OVERCOMING CHALLENGES WORKING IN SENIOR LIVING
Working on senior living facilities isn’t without its challenges. Safety for the residents comes first and foremost and Global Construction always makes sure to properly vet and brief any subcontractors working around seniors. A high level of care must be taken to ensure that tools are not left where they could harm a resident and airborne particulates from paint or sanding are dealt with before they could cause any harm.
At Global Construction, we always strive to go above and beyond what is required of us, so we also make sure to be as courteous as possible. This includes limiting noise when possible and explaining to residents what renovations are underway and when they should be done. Many seniors living in these communities, especially those in assisted living and memory care, are tied to a routine. Ongoing construction can disturb these routines and cause unnecessary distress. We always do our best to maintain project timelines and disturb as few residents as possible.
RENOVATIONS FROM TOP TO BOTTOM
In order to make the most of renovations, Holly Creek and Global Construction worked together to develop a scope that would update nearly every aspect of the units and create the most value in both the short and long term. Everything from cabinet boxes to floors and lighting would be updated to account for the very real possibility of a unit being lived in unrenovated for nearly a decade.
Before Global Construction even completed renovations, the unit that was being worked on was filled with new tenants. The newly renovated unit was able to close with greatly increased entrance fees compared to the previous resident. The new monthly fees for the unit are a better reflection of the market rate and provide a fair price for the quality of life and amenities being offered at Holly Creek.
WE UNDERSTAND THAT SENIOR LIVING AND MULTIFAMILY AREN’T THE SAME
Global Construction works closely with the design team, architects, and on-site staff in order to work seamlessly within occupied buildings causing minimal disruptions to residents and caregiver’s routines. We thoroughly vet our employees who are experienced working in senior communities and highly aware of their environments and safety protocols. Our team takes care to provide the utmost safety and sensitivity to both residents and caregivers throughout the entire project lifecycle. It’s our priority to ensure that we have an empathetic approach, minimizing disturbances and keeping all areas safe and clean.