{"id":1004091022,"date":"2014-02-07T07:13:25","date_gmt":"2014-02-07T15:13:25","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=238310"},"modified":"2020-05-10T23:03:16","modified_gmt":"2020-05-11T07:03:16","slug":"private-sector-to-take-over-nashvilles-senior-housing-assets","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/private-sector-to-take-over-nashvilles-senior-housing-assets\/","title":{"rendered":"Private Sector to Take Over Nashville\u2019s Senior Housing Assets"},"content":{"rendered":"<p><em>By Eliza Theiss, Associate Editor<\/em><\/p>\n<p><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/02\/Bordeaux-Long-Term-Care1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-238312\" title=\"Bordeaux Long Term Care\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/02\/Bordeaux-Long-Term-Care1.jpg\" alt=\"\" width=\"300\" height=\"201\" \/><\/a>Metro Nashville is looking to get out of the senior housing business, giving its two senior housing facilities over to private operators in a move that would result in a third private-sector senior living community. According to <a href=\"https:\/\/www.tennessean.com\/article\/20140130\/BUSINESS05\/301300087\/Mayor-Dean-proposes-privatizing-Bordeaux-Knowles-homes\" rel=\"nofollow\" ><em>The Tennessean<\/em><\/a>, Mayor Karl Dean\u2019s plan would see Louisville-based Signature Healthcare take over the 419-bed Bordeaux Long Term Care located on County Hospital Road, while Vision Real Estate Investment Corp. affiliate Assisted Living Partners would take over the 100-bed Knowles Home Assisted Living on Camilla Caldwell Lane. If approved by Metro Council, the move would save $10.5 million in city subsidies.<\/p>\n<p>Signature Healthcare will take over the management and operation of Bordeaux for a 10-year term, receiving a $1.3 million payment from Nashville. According to the <a href=\"https:\/\/nashvillepost.com\/news\/2014\/1\/30\/dean_to_transition_citys_senior_care_sites_to_private_ownership\" rel=\"nofollow\" ><em>Nashville Post<\/em><\/a>, the company would operate 260 licensed beds at Bordeaux, where it would invest $250,000 in capital improvements. Signature will also operate a 168-bed skilled nursing home set to be developed near Skyline Medical Center. The $18 million facility will be developed by Ed. Street Co. and is expected to have a three-year development period, due to state certification requirements.<\/p>\n<p>Assisted Living Partners would also enter a 10-year lease agreement with the city, but would end up purchasing the facility for $500,000, and spend $300,000 on renovations, reports <em>The Tennessean<\/em>. Vision will also have the option to acquire 44.6 acres from the Bordeaux grounds, developing several other housing options worth over $34 million, such as senior apartments, nursing facilities, town homes and affordable housing.  A further 400 acres of the Bordeaux campus could be turned into public park space.<\/p>\n<p><em>Image courtesy of Bordeaux Long term Care<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Metro Nashville is looking to get out of the senior housing business, giving its two senior housing facilities over to private operators in a move that would result in a third private-sector senior living community.<\/p>\n","protected":false},"author":49,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[36077,21742],"tags":[1598,1815],"class_list":["post-1004091022","post","type-post","status-publish","format-standard","hentry","category-nashville-knoxville","category-latest","tag-nashville","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Private Sector to Take Over Nashville\u2019s Senior Housing Assets - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/private-sector-to-take-over-nashvilles-senior-housing-assets\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Private Sector to Take Over Nashville\u2019s Senior Housing Assets\" \/>\n<meta property=\"og:description\" content=\"Metro Nashville is looking to get out of the senior housing business, giving its two senior housing facilities over to private operators in a move that would result in a third private-sector senior living community.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/private-sector-to-take-over-nashvilles-senior-housing-assets\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2014-02-07T15:13:25+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-11T07:03:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/02\/Bordeaux-Long-Term-Care1.jpg\" \/>\n<meta name=\"author\" content=\"Eliza Theiss\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/private-sector-to-take-over-nashvilles-senior-housing-assets\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/private-sector-to-take-over-nashvilles-senior-housing-assets\\\/\"},\"author\":{\"name\":\"Eliza Theiss\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/de1353a5de72f96494054df3ecca7de4\"},\"headline\":\"Private Sector to Take Over Nashville\u2019s Senior Housing Assets\",\"datePublished\":\"2014-02-07T15:13:25+00:00\",\"dateModified\":\"2020-05-11T07:03:16+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/private-sector-to-take-over-nashvilles-senior-housing-assets\\\/\"},\"wordCount\":276,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/private-sector-to-take-over-nashvilles-senior-housing-assets\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2014\\\/02\\\/Bordeaux-Long-Term-Care1.jpg\",\"keywords\":[\"Nashnville-Knoxville\",\"National\"],\"articleSection\":[\"Nashville - 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