The $73.25 million, 23-story, 325,000 square foot River Tower at Trinity Terrace in Fort Worth, Texas, is the largest of four independent living projects Pacific Retirement Services plans to develop or expand on its CCRC campuses this year.
Rendering courtesy of Pacific Retirement Services
New, expanded and renovated communities suggest market might be rebounding
By Murray W. Wolf
The continuing care retirement community (CCRC) was one of the hardest hit healthcare real estate (HRE) product types during and after the housing crash, financial crisis and Great Recession. Many seniors wanted to move to CCRCs at that time but were tied down because they were unable to sell their single-family homes.
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