Senior living operators are ramping up their expansion efforts as the a "silver tsunami" of the oldest baby boomers are beginning to need their services, according to an article on the Biz Times website.
“Over the last three years, our organization has changed a lot,” Capri Communities founder James Tarantino said. “The silver tsunami has reached us.”
Many of the facilities elderly people are moving into today have far more amenities than their grandparents would have expected.
“When we started, people thought of our buildings as a nursing home,” Tarantino said. “Now, as people in their 70s look at how they want to spend the rest of their lives, they want more.”
The idea of giving seniors more than a bed and three square meals a day has resonated with Tarantino and other operators. Today’s senior living complexes are a hybrid of luxury apartment, four-star hotel and healthcare facility.
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