Duffy Quoted in Puget Sound Business Journal About Senior Housing in a Downturn Economy
Lane Powell Shareholder Barb Duffy was quoted in the September 9 issue of Puget Sound Business Journal in an article titled “Innovators Expand Senior Housing Even in a Downturn.” In the article, Duffy discussed Washington state’s growing 65-plus age group, and how the real estate and health care industries have introduced an array of housing, ranging from nursing homes to golf course communities, to accommodate this increasing population in the United States’ current downturn economy.
‘All this Yankee innovation, of course, doesn’t bring immunity from economic trends. It’s the non-medical end of the spectrum — independent-living communities — that got bashed hardest by the real estate slump of recent years,’ said Barb Duffy, who heads Seattle law firm Lane Powell’s senior housing practice. … ‘Assisted living, being needs-based, hasn’t taken the hit that independent living has. Many of today’s assisted living residents suffer from the kinds of acute disabilities that in previous days would have required nursing home care. Companies in that arena, such as Seattle-based Emeritus Senior Living, often also provide care for people living with Alzheimer’s and other memory-loss afflictions. … I think we will see a loosening up of capital markets for senior living.’
The article goes on to say:
The mere fact that Duffy’s firm, Lane Powell, maintains a 22-lawyer practice in senior living says something about the sector’s economic clout. High above Seattle’s Fifth Avenue and Pike Place Street, these attorneys handle real estate transactions, applications to open new nursing homes, compliance with the federal Fair Housing Act, Medicare regulations, hourly worker employment disputes, ripple effects from last year’s health reform law, injury liability and much more.