Seattle—One Eighty, a hospitality specialist based in Seattle, has unveiled plans for a new line of seniors housing properties targeting middle-income seniors who want independent living facilities. The company says it spent about four years researching and developing the concept, which it calls Treeo, before opening the prototype in Orem, Utah, in April.
Working with architecture firm Johnson Braund Inc., who developed the Hyatt Place concept, One Eighty has now established an approach for designing and constructing the properties to enable their quick replication. According to One Eighty chairman and CEO Dan Madsen, most seniors developments begin with the site location in mind. By contrast, One Eighty researched not only demographics, but the psychographics of their ideal customers, and then sought out the markets with the highest populations of those potential residents.
The approach allows One Eighty to search for sites in concentrated markets, and then built based on strength of numbers, status of competition, land cost, and ease of doing business in those places, says Madsen. By utilizing these efficiencies, the average rent per unit comes in at about $2,600 per month—substantially less than current pricing for most retirement communities, he explains.
Treeo properties will feature 143 apartments with studio, one- and two-bedroom units from 400 square feet to 800 square feet. All Treeos will be designed for independent living, with each unit including a full kitchen with a refrigerator and range, sink, and under-mount microwave oven.
The properties’ common areas will serve as hubs for residents to socialize. Treeos will also offer restaurant-style dining, wireless Internet access throughout the building, onsite physical and occupational therapy, housekeeping and home maintenance services, a personal fitness program and other opportunities for social and cultural engagement.
The second Treeo broke ground last month in South Ogden, Utah. Other planned locations include Charlotte and Kansas City, Kan., both of which will break ground in early 2015. All Treeos will be managed and operated by Leisure Care, which specializes in operating retirement properties in North America.