According to the U.S. Census Bureau, the number of Americans 65 and older is expected to grow from 56 million in 2023 to over 95 million by 2060, a 70% increase. Advances in healthcare, better access to medicine and healthier lifestyles are contributing to longer life spans with many individuals now living into their 80’s and beyond.  The increase in the aging population has led to a surge in demand for senior living communities – a trend that we’ve monitored closely over the last decade.

In May 2017, we discovered V-Esprit (previously named Shalom Park), a 104-unit, age-qualified (55+) independent living community in Aurora, Colorado, ten miles southeast of downtown Denver. V-Esprit is situated on 14 acres and features breathtaking views of the Rocky Mountains. Residents have access to the adjacent Shalom Park amenity center, which includes a fitness center, therapeutic pool, salon and bistro.

When we purchased the property, V-Esprit consisted of 60 apartments and 44 patio homes and featured secured access, a theater room, a dining area and a library. The property was less than 40% leased and suffered from numerous operational issues.  Our business plan included rebranding the property, implementing professional management and renovating the common areas and apartment interiors.

Our common area renovations included converting four apartments into a fitness room and card room (reducing the unit count from 104 to 100) and expanding the size of the resident lounge. We also renovated the theater room, dining room, common area hallways and added an outdoor BBQ and lawn game area.

We have renovated 66 apartments and recently constructed 14 “villas” on an adjacent parcel, increasing the unit count to 114.  Each villa is 1,500 square feet and includes two bedrooms, two bathrooms, a den, laundry room, fireplace and attached garage.

Residents at the community benefit from maintenance-free living, on and off-campus transportation, concierge services and a variety of social activities.  V-Esprit is an ideal setting for those seeking an elevated and convenient lifestyle in their golden years.