Author: Cece

Mather Secures $300M in Construction Financing

Evanston, IL (October 14, 2021) – Mather, an award-winning senior living provider,
announces that it has secured $300 million in construction financing for The Mather, a luxury
Life Plan Community being constructed in Tysons, Virginia, with the syndicated transaction led by The Huntington National Bank.

Expected to open in 2024, The Mather is a $500 million development. A 50/50 equity
partnership between Mather and real estate investment manager Westminster Capital, the
project is also being funded with equity from Mather and Westminster, as well as a portion
through a 10-year taxable green bond issuance from Mather Foundation.

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The Mather launches second phase of pre-sales for upcoming residential towers

After a successful first phase pre-sale, The Mather announced today (Tuesday) that it is launching a pre-sales for a second phase of apartments.

Located at 7929 Westpark Drive near Tysons Galleria, The Mather is a Life Plan Community complex of two residential towers with a total of 300 apartments for seniors. It is part of the 19.4-acre Arbor Row mixed-use development that will also include a high-rise condominium tower called The Monarch.

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The Mather Launches Phase Two Presales

Evanston, IL (June 15, 2021) – Mather announces that the South Building (Phase 2) of The Mather, a Life Plan Community, has begun pre-sales. The Mather will be comprised of two, connected high rise buildings with nearly three acres of outdoor space located at 7929 Westpark Drive, Tysons, Virginia.

The Mather will include two residential buildings, one with 186 apartment homes (Phase 1 projected to open in 2023) and Phase 2 (projected opening in 2024) with 114 apartment homes, which will be connected by a multi-story concourse with amenity spaces. These spaces include a fitness center, spa, indoor pool, multiple restaurants, outdoor terraces, art studio, and more.

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May Is Older Americans’ Month and a Great Time to Engage this Savvy and Vibrant Demographic

This May marks the 58th anniversary of Older American’s Month and the launch of this year’s theme: Communities of Strength. Those age 60 and better are a vibrant, engaged demographic that has built strength and resilience through successes, failures, joys, and challenges. They are active, valued leaders and mentors within our business community and a force within society. And even as COVID-19 impacted this generation most adversely, the group’s important connections within their communities have played a vital role in their health and well-being. This older demographic commands attention and is changing the status quo.

When Older Americans Month was established in 1963 by President Kennedy, only 17 million Americans were 65 years and older. Today, there are an estimated 73 million baby boomers. And while many businesses mistakenly discount the economic impact of this group, they command purchasing power of more than $2 trillion, according to market research, and a net worth that’s nearly twice the national average, according to SuddenlySenior.com.

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Paving the Way for Senior Housing in Tysons

As baby boomers continue to age, the senior population (those above 65 years of age) is increasing at a rapid rate. Given this shift in demographics and as baby boomers look to downsize, the demand for senior housing is at an all-time high with many looking for senior housing communities focused on active and engaging lifestyles. As Tysons continues its steadfast efforts to grow and thrive as an urban epicenter where all ages can live, work and play, developing and innovating senior housing is a priority. Tysons is an optimal location for future senior housing developments due to its location at the gateway to the nation’s capital and because of its expansive amenities in the retail and entertainment arenas. The Mather, a new “life plan” community and Silverstone Senior Living complexes in Tysons each provide the lifestyle active seniors are looking for. Mary Leary, President and CEO of The Mather stated, “We are excited about our plan to build a forward-thinking Life Plan Community in Tysons and are thrilled by the interest from leading-edge boomers. Future residents are engaged in their local communities and want to stay connected. They are looking for an urban, walkable lifestyle in a location they love, with culture, sports, arts, and entertainment options that are easily accessible.”

These two unique senior housing developments in Tysons are well underway and illustrate a modern take on senior housing and why Tysons is an ideal location for each development.

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Mather Institute Announces New Findings on Happiness in Residents of Life Plan Communities, in Year 3 of Landmark Study

Evanston, IL (January 13, 2021) – What factors are related to the happiness and life satisfaction of Life Plan Community residents? This question was explored in great depth in the landmark, five-year Age Well Study being conducted by Mather Institute and Northwestern University. Year 3 findings of the study are being issued today in a free report available for download by Mather Institute at TheAgeWellStudy.com

The Age Well Study is the only national longitudinal study to evaluate the impact of living in a Life Plan Community on residents’ health and well-being. In its first year, findings from the Age Well Study showed that Life Plan Community residents’ health and wellness compared favorably to that of a demographically similar sample of community-dwelling older adults. Year 2 of the study focused on factors that contribute to residents’ physical health and well-being.

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Mather launches customized training program designed to support front-of-house culinary staff at its senior living communities

Evanston, IL-based Mather is taking a page out of the luxury hotel/hospitality book with the launch of a customized training program designed to support front-of-house culinary staff at three of its senior living communities.

“At Mather, we operate restaurants, not dining rooms,” said Thad Parton, Mather’s director of culinary operations. “Our residents are sophisticated and well-traveled; they expect the best service, and this training supports our team members in providing it.”

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Mather CEO: We Adapted $475M Highrise Project to Pandemic, Are 70% Pre-Sold

Mather was not planning for a global pandemic when the organization embarked on the creation of a $475 million-plus life plan community near Washington, D.C. But after Covid-19 struck, Mather listened to consumers, adapted the project design and reached the 70% pre-sold mark in September.

That’s three months ahead of the schedule that was set before Covid-19 struck, Mather President and CEO Mary Leary told Senior Housing News. An Evanston, Illinois-based nonprofit, Mather operates senior living communities in the greater Chicago market and in Tucson, Arizona.

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3 Of The Best Apartments In Washington DC

The past six months have shown us the strength, resilience and creativity of DC, Maryland and Virginia’s real estate industry. They also revealed something else about our post-pandemic market: Washingtonians want to stretch their real estate dreams with new amenities in even more dynamic properties—and real estate pros are delivering in nearly every corner of the region.

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The Mather Life Plan Community in Tysons, VA, Continues Forward Despite Pandemic

Evanston, IL (October 6, 2020) – Mather announces that the first phase of The Mather, a $475-million-plus Life Plan Community located in Tysons, VA is 70% pre-sold, a significant milestone in the project. Despite the pandemic having impacted senior living in many ways, achieving this benchmark indicates strong interest in the project. Phase 1 of The Mather is projected to open in 2023.

“We are excited about our plan to build a forward-thinking Life Plan Community in Tysons and are thrilled by the interest from leading-edge Boomers.” said Mary Leary, president and CEO of Mather. “Future residents are engaged in their local communities and want to stay connected. They are looking for an urban, walkable lifestyle in a location they love, with culture, sports, arts and entertainment options that are easily accessible.”

Read the press release here

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