This non-profit organization had built a lot of seniors that were both affordable and offered private freedom lodgings and had managed for over 50 years. In 2005, the UCHC board approved a new four- assisted living facility, Wascana Wing, which was to be constructed in response to long waitlists.
With this particular decision, the UCHC board had taken out a $3 million mortgage to fund the project. Since starting the newest facility, high vacancy rates had blighted UCHC as new for-profit competitors entered the market for senior accommodations. The mix of high vacancy rates and UCHC's highly leveraged financial position were the source of losses from 2006 to present date. The board's break even attitude was not working. UCHC was at a major crossroads - the home scenario of over 100 seniors residing in assisted living apartments and bungalows would have to be determined upon at the following meeting. The question was whether or not a retired nurse, June, would advocate that the board continue with winding up UCHC or make suggestions that would call for major developments to the current business model.
United Church Housing Corporation Case Study Solution
PUBLICATION DATE: June 08, 2012 PRODUCT #: W12433-HCB-ENG
This is just an excerpt. This case is about STRATEGY & EXECUTION
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