United Properties announced Monday that it will triple the number of senior living communities that it owns and develops over the next three years and will bring three types of senior housing communities under a new brand, Amira.
The Minneapolis-based developer said it expects to average approximately six groundbreakings per year. The expansion will increase the number of housing units from 1,100 open today to 3,800 over the next few years in Colorado, Florida and Texas in addition to its home state.
“Amira delivers a lifestyle that seniors — especially baby boomers — are looking for; namely, caring relationships and activities with people at similar stages of life, sharing similar interests and experiencing life together,” said Matt Van Slooten, co-president and chief investment officer for United Properties Investment. He is leading the rebranding initiative.
The Amira rebranding will include Amira, 55-plus independent living rental communities (formerly known as ThePOINTE); Amira Choice, 62-plus integrated independent living, assisted living and memory care communities (formerly known as Cherrywood Pointe); and Applewood Pointe, for-purchase cooperative communities owned by older adults.
Van Slooten said the decision to expand the company’s senior living portfolio is rooted in demographic trends that project that the number of people in the United States aged 75 or more years is expected to nearly double over the next two decades — from 23 million in 2020 to 45 million in 2040. The oldest baby boomers are turning 75 this year, and the youngest are turning 57.
United Properties, he added, has 17 years of experience with senior living developments in 30 locations.
