Avamere Announces Micro CCRC, Sans Skilled Nursing

Wilsonville, OR-headquartered Avamere Family of Cos. announced its intention to build, and open a continuing care retirement complex (CCRC) in St. George, UT. The project, unlike similar types, won’t have a skilled-nursing component, and is being dubbed a “micro CCRC.”

The project is part of the Sienna Hills master-planned community, and will offer two buildings containing 300 units of independent living, assisted living and memory care. Construction is scheduled to launch on the development in fall 2018, and Avamere indicated it is planning similar developments costing between $75 million-$100 million in western cities.

Avamere indicated that, by omitting skilled nursing, it saves on operating costs. It also saves residents from having to pay for nursing care up front. Instead of a buy-in fee, residents will pay rent somewhere in the 80th-90th percentile of the market. “The thought of putting down a $550,000 or $750,000 buy-in fee is daunting to most people in the baby boomer generation,” Avamere’s Ryan Haller told Senior Housing News.

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