The LaSalle Group's Lock on Memory Care
We connected with The LaSalle Group regional director of development Matt Krummick when he wrote in telling us what he jams out to at work (keep reading for the reveal). LaSalle has been in Chicago since 2006, operating seven suburban seniors living facilities focused on memory care (Alzheimer's and dementia) under the Autumn Leaves brand. Two more sites (Arlington Heights, rendering below, and Glen Ellyn) are in the entitlement phase, each with around 40 units and costing about $12M to build, he tells us. All facilities are private pay ($3,800 to $7,000 per month depending on room type). Competition is slim in LaSalle's specialized arena, Matt says, as most other facilities have (at most) one floor solely dedicated to memory care.
The challenges: entitlement (all properties require a rezone) and finding development opportunities in the city. Few sites could affordably accommodate Autumn Leaves' current 30k SF floor plan, strategically sectioned into small "neighborhoods" to be more manageable for the memory impaired, Matt tells us. Solving the city issue is a top priority, as many urbanites have to place elderly parents in far flung suburban facilities, making visiting difficult, he adds. Ok, you earned it. On Matt's XM radio: '90s grunge (Soundgarden, Mother Love Bone, the Singles soundtrack), old school hip hop (nothing like NWA to wash away a hectic day), and '80s metal. (The seniors must love him.)