The latest senior living provider diving head-first into wellness-focused offerings is Monarch Communities, with the operator launching a new luxury senior living brand known as “The Current” in connection with Welltower (NYSE:WELL).
The Current will be a “person-centric, wellness-oriented” aging-in-place community in Weymouth, Mass., and be the first of The Current brand of luxury senior living, according to a news release from Monarch Communities.
The community itself was inspired by WELL Building Certification standards, Monarch Communities CEO Michael Glynn said in the release, aiming to include elements of “nourishment, air, light, water and movement,” into the community of 165 apartments. Rents start at $6,400 monthly for independent living and $6,800 starting per month for memory care.
“In essence, we’ve crafted an environment where people can enhance their daily experiences, enjoy the quality of their lives, and become more who they are in a stress-free atmosphere. We look forward to sharing our vision of community with the South Shore,” Glynn said.
The community will offer four levels of personalized health and wellness services across the traditional care continuum with added respite care. Amenities at the community include fitness and wellness spaces with group classes, personal massages and more. Other amenities include a salon. In terms of dining, the community will offer four restaurants from “locally sourced meals with an international flare,” the release states.
In June 2021, Welltower invested in Monarch Communities, with Welltower CEO Shankh Mitra at the time calling the operator “an ideal fit to our long-term vision in senior living” thanks to the company’s “turnkey business model,” Mitra added.
The first community developed by Monarch on behalf of Welltower was Monarch Cooper’s Corner in New Rochelle, New York, with Monarch also repositioning additional Welltower-owned communities.
Monarch Communities currently have six properties in their portfolio, according to the company’s website.
Operators in recent years have tried to remain competitive in their local markets through highlighting wellness and lifestyle offerings—with success to prove it—as middle market providers and luxury senior living operators alike vie for showcasing wellness-forward services and amenities. Operators like Juniper Mather and Watermark Retirement Communities are just a few of the operators that have all taken steps to address resident wellness head-on.
With wellness seemingly a key component of any new community or sub-brand, a recent industry report demonstrating the benefits of congregate living was published by the Mather Institute, the life plan community operator’s research wing in partnership with Northwestern University.
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