Worcester Business Journal

16 Worcester Business Journal • September 28, 2015 www.wbjournal.com n The Creative Underground, an artisan gift gallery, is open at 43 Broad St., Hudson, in the Hudson Mill Building. It is owned by Doreen Moscillo-Howes and Kristin Sumner. n Worcester Community Cable Access, WCCA TV, with support from The George F. and Sybil H. Fuller Foundation, is refurbishing its 415 Main St. façade. The building's concrete accents will be painted, with the station's call letters put on them. The landmark building was built in 1890. n Sturbridge-based Venture Community Services, which serves those with disabilities, has partnered with Wayside Youth & Family Support Network of Framingham to offer home-based services to Southern Worcester County. n Laurel Learning Services is opening at 27 Forbush Mill Rd., in Bolton. Owner Audra Marie Guimond provides tutoring, SAT prep and professional development for educators. n Gorman Richardson Lewis Architects moved its Hopkinton offices from 77 Main Street to 239 South Street. The firm occupies the fourth floor of the building, allowing more room for expansion. n Floor Source opens a new, 7,200-square-foot designer showroom Oct. 8, at 65 West St., in Auburn. 905 Hartford Turnpike, Shrewsbury, MA 01545 tel. 508.842.1213 • www.elevationee.com Before After Before After CUSTOM RENTAL GLOBAL GRAPHICS EVENTS PORTABLES UPGRADE YOUR SPACE • CORPORATE OFFICE DESIGN & INSTALL Ryan knows how to help Worcester County. At Home Here for Government Banking Worcester INC. 1722 Ryan Stolle ESB Government Banking Member FDIC Member DIF bankesb.com | 844.ESB.GOVT (372.4688) We are pleased to announce a new member to the ESB Government Banking division. Ryan Stolle is solely dedicated to meeting the banking needs of the municipalities of Worcester County. Ryan brings over seven years of local Government Finance experience to Easthampton Savings Bank. FRESH BEGINNINGS pects in the 2008 recession and CCRCs saw a dip in community unit sales. Home prices have since picked up. As for CCRCs, current market trends indicate that people choose to move to CCRCs in their late 70s and early 80s, says Paul Bowler, president and CEO at Worcester-based Briarwood, a CCRC with that offers independent living, assisted living, and a short- and long- term nursing and rehab affiliate, Knollwood Nursing. "So, the prognosis is that the 'age wave' will not significantly impact [CCRCs] for several more years," he said in an email. The driver of admission to many CCRCs is the entrance fee, he said. Entrance fees support a community's capital needs; the monthly fee covers daily operating expenses. In Briarwood's case, this includes its assisted living cen- ter and the operation of Knollwood. Some communities offer a full return of the entry fee when the resident dies or leaves, but these are rare, he said. In most cases, communities refund the entry fee less an amortized portion, which differs by facility, and that ranges from 90 per- cent to 50 percent. The next step may be no stairs What happens when seniors need a higher level of services, such as assisted living or skilled nursing facilities? For CCRCs, that's part of the mission. Bowler said more than 90 percent of the CCRC customer base anticipates eventually liv- ing on a single floor. CCRCs' provision of a continuum of service — assisted living and skilled nursing — provides a clear path of tran- sition as residents' needs change. While contracts are community-specific, the general appeal of a CCRC is a guarantee that residents will get priority when assisted living is required, Bowler says. The alternative for those in facilities that do not offer a continuum of care is either to move to a nursing home or to bring equivalent skilled service into the housing unit on a 24/7 basis, at a signifi- cant additional expense. n Seniors have more choices than ever for housing >> Continued from Page 9

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