Our company is proud of its pioneering heritage. More than 60 years ago, ABHOW was one of the first organizations on the West Coast to develop the concept of continuing care retirement communities.
Today, ABHOW carries on that tradition of innovation, whether it is by creating The Grove, which utilizes new methods of providing memory support, or by adding new affordable housing communities that help seniors find a place to call home.
Pioneers are often thought of as risk-takers, but in uncertain economic times it is fair to ask if taking risks is the best course. The senior living profession has seen a marked slowdown in occupancy numbers as prospective residents, concerned about their financial security, delay their decisions to move into retirement communities. Throughout the country, businesses in all sectors of the economy have gone into survival mode, waiting and hoping for conditions to improve.
Although uncertainty can make it difficult to embrace risk and innovation, ABHOW’s management practices have provided a sound financial foundation that maintains security for current residents, offers an attractive option for prospective residents, and enables the company to pursue new opportunities for the long term.
Times are tough, but by 2014 ABHOW will have opened another new affordable housing community in Washington and made improvements to several continuing care communities in California. The company is able to do this because the board and management have developed a long-term strategic plan that anticipates future needs.
In addition to planning for the needs of current and prospective residents, ABHOW looks for sound yet creative ways to finance new communities. For example, we team with like-minded nonprofit organizations and seek grants that will enable us to achieve our goals.
Furthermore, ABHOW is focused on marketing. This spring, the company’s sales offices began a three-month campaign called Season of Savings, which offers unique move-in incentives to attract new residents at eight communities. The campuses are hosting events, answering prospective residents’ questions and providing financial information that details the benefits of moving to a CCRC. So far, the results have been very encouraging.
Navigating tough times requires a clear vision, continuous planning and, yes, a pioneering spirit to make strategic business decisions. Our company is blessed to be able to use these assets in our mission to enhance the lives of older adults.