Two operators expanding into additional states
Wichita, KS-based Legend Senior Living has entered the Pennsylvania market, and Wall Township, NJ-based Springpoint Senior Living will set up shop in Delaware, under agreements the companies recently announced.
The privately held Legend has partnered with Signature Senior Living to own and manage two memory and personal care communities in the Keystone State. Signature of Lititz and Signature of Lancaster, developed by Steven Vick and Pete Russell, will join the Legend family of properties.
Russell is a partner in many of Legend's communities, and Vick was co-founder of Sterling House Corp. with Legend founder and President Tim Buchanan in the early 1990s. The three have known each other for more than 40 years, according to Legend.
“This partnership complements what has been our desire in the last few years to expand in the northeastern part of the country,” said Legend Director of Finance Matt Buchanan.
The partnership also has secured financing and land for a third Pennsylvania location, in Allentown, and plans to break ground within the next month. A fourth Pennsylvania location is in development.
Signature of Lancaster opened in January, and Signature of Lititz opened in November. Each community has 33 memory care apartments and 47 personal care apartments.
In addition to its Pennsylvania expansion, Legend is building senior living communities in Broomfield, CO; Gainesville, FL; and McKinney, TX. All of the communities are expected to open in the next year to 14 months. Legend already has communities in those states.
Meanwhile, the nonprofit Springpoint Senior Living is adding Cherry Hill, NJ-based Cadbury Senior Lifestyles as an affiliate. Springpoint plans to assume management and oversight of a continuing care retirement community in Lewes, DE, and the Cadbury Senior Lifestyles at Home program around May 1.
“This affiliation marks a historic milestone for Springpoint as we extend our service area beyond the bounds of New Jersey and expand our portfolio to include an innovative program known as ‘CCRC Without Walls,' ” said Anthony Argondizza, Springpoint's president.
Through its seven CCRCs, 19 affordable housing communities and a home care division, Springpoint currently serves almost 4,000 older adults and employs more than 2,000 people.
The Delaware community it will add has 130 independent living apartments and cottages, 45 assisted living units and 40 skilled nursing beds. Between the community and its home care program, Cadbury has almost 200 employees and 447 residents and clients who will become part of the Springpoint family.
“Being part of a multi-site organization provides resources, support and innovative programs that are becoming more difficult for smaller organizations to fund and manage,” said Victor D. Amey, president and CEO of Cadbury Senior Lifestyles.