Critical Housing Need is Most Acute for Older Residents
The campus for Jewish Living’s 270,000 square feet comprises Frank Residences (113 assisted-living apartments and 77 memory care support suites) and a community center.
SAN FRANCISCO—A new campus is underway for older adults in a city where there is still a critical need for housing. The San Francisco campus for Jewish Living is nearing the midway mark on the construction of a $140 million expansion, including 190 new apartments and a community center, Byers Square, with new amenities including retail, a fitness center, library, café, pool, cinema and a performance center.
“By providing much-needed new residential housing for older adults in San Francisco as well as creating a downtown on our very own campus, we hope to offer more residents the fulfilling lifestyle they are seeking,” said Daniel Ruth, San Francisco campus for Jewish Living president and CEO. “It’s one more way we are showing our commitment to the community to provide the very best, most state-of-the-art care for older adults.”
The owner is Jewish Senior Living Group. Designed by Ankrom Mosian Architecture and built by San Francisco-based Cahill Contractors, the 270,000 square feet of new construction due late 2019 comprises Frank Residences (113 assisted-living apartments and 77 memory care support suites) and the community center.
Construction began in mid-2017. The cost per square foot is $519, GlobeSt.com learns.
“The San Francisco Campus for Jewish Living has embarked on a large-scale construction project, aspiring to bring a level of care to older adults never before possible,” Ruth tells GlobeSt.com.
In addition to the new construction, the development includes renovating the existing 257 beds for long-term care, 105 for short-stay rehabilitation and 12 for behavioral health. The campus expansion will allow San Francisco campus for Jewish Living to grow from serving 374 residents and short-term stay patients daily to more than 600 when complete. Disciplines include an integrative healthcare clinic, healthy aging and wellness programs, lifelong learning and engagement programs as well as on-site clinics offering a wide range of medical care including physical and occupational therapy.
“Our goal is to thoughtfully respond to the changing needs of older adults, their families and caregivers,” said Ruth. “We want to develop a continuum of care that will be economically sustainable, viable for generations to come and serve a broader range of individuals than we do currently.”
As part of the construction and renovations, the San Francisco campus for Jewish Living will also improve public infrastructure along the campus borders with street and sidewalk landscaping along the Mission Street frontage, the corner of Mission and Silver Avenue, and the corner of Mission Street and Avalon Avenue. Beautification will include the addition of new trees and sidewalk widening along with small plaza areas.
Nursing care communities, also known as skilled nursing properties or facilities, account for the largest share of the seniors housing industry. Operators at these properties treat both long-stay custodial care patients as well as short-stay post-acute care patients. Unlike other seniors housing property types, the segment is highly dependent on Medicaid and Medicare reimbursement programs, deriving 71% of revenue from these sources. National and state healthcare policies have a more direct impact on the property sector, and expanded managed-care and value-based care policies must be navigated by operators to maximize returns, according to a second-half 2018 report by Marcus & Millichap.