Inside Successfully Obtaining Loans for Nursing Home Projects Amid Harsh Financing Environment

Categories: In The News, National Media Items

Knowing how community ties can help providers obtain capital, and what type of loan is most industry-friendly can be successful steps towards garnering capital for senior care projects. Taking steps to minimize risk for the lender is another huge factor in attracting capital, according to experienced lenders and those involved in nursing home projects said during a recent webinar hosted by the Green House Project.

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  • “If we’re going to elevate the resident’s voice, we’ve got to include residents,” said Laci Cornelison, interim director of the Center on Aging at Kansas State University and coalition member, during her session at Pioneer Network and The Green House Project’s 2024 Conference on Wednesday. “We really wanted to take an approach where we’re looking at things through the lens of culture change and person-centered care. We focus mostly on quality of life rather than clinical needs.”

  • “At a time when hospitals continued to push more post-surgical patients straight to home care, Londonderry Village in Palmyra, PA, decided to invest in six Green House homes with 10 beds each. ‘We believed in that culture and that quality of care,’ said President and CEO Jeff Shireman. ‘People have great experiences in that environment.'”

  • From Senator Ed Markey to select board chair Art Smadbeck, a mix of high-level politicians and local figures broke ground in Edgartown on the 70-bed, $68 million Navigator Homes elderly housing project intended to replace the Windemere Nursing & Rehabilitation Center on the Vineyard. “This is going to be a place that really helps families, and that cares for their loved ones in a way that is almost family-like,” Markey said.

  • “A small but growing group of nursing homes are already implementing these changes. Collectively called ‘household models,’ these nursing homes have generated enthusiasm among diverse stakeholders and long-term care experts. Because of its scale and consistency across homes, the Green House approach has been the most frequently studied household model.”