News: Owners Developers & Managers

Breton and DuRoss named co-CEO’s at LCB Senior Living

Norwood, MA According to LCB Senior Living, LLC, CEO Michael Stoller will be stepping down effective October 1 and that current chief investment officer Danielle Breton and chief operating officer Timothy DuRoss have been named co-CEO’s moving forward. Stoller will remain active in the company as chairman of its board.

The move comes as LCB maintains a strong growth pattern, having acquired five new management contracts over the past year, while completing construction and opening its newest community, The Residence at Bedford. Founded in 2012, LCB owns and/or operates 41 senior living communities across Mass., Conn., VT, N.H., R.I., N.J. and Penn.

“It is a bittersweet thing to step down from a role that I have loved every minute of,” said Stoller. “It gives me great peace, however, to know that I’m leaving day-to-day management in the hands of the industry’s strongest team, including an executive group that has been essentially intact from LCB’s inception. I’m looking forward to staying involved through my role on the Board, both in governance and as a presence in our communities, which is something that I love.”

In a joint statement, Breton and DuRoss said, “It is a true honor and equally humbling to follow Michael Stoller in the co-CEO role. He is an industry pioneer, innovator and legend, and we owe him a huge debt as a company to honor his legacy. These are very large shoes to fill, but this is a team of enormous depth, experience and continuity, and we are well-positioned for continued success.”

MORE FROM Owners Developers & Managers
ODM

Elm Grove Companies breaks ground on $20 million - The Rapids On Cocheco

Rochester, NH Real estate development firm, Elm Grove Companies, has started construction of The Rapids On Cocheco, an approved 52-unit workforce housing community at 29 Wadleigh Rd. This will be the company’s ninth venture in the affordable housing arena with other affordable properties in the state totaling 430 apartments
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Selecting the right façade installation firm - by Steven Powell

Selecting the right façade installation firm - by Steven Powell

As the owner of a major new property being developed, or an existing large building preparing for major renovation, you want your design and construction team to have the right experience, capabilities, and expertise to match the project demands. A critical member of this team will be the façade installation specialty firm, since the quality of this installation will impact
Recently passed legislation creates opportunities to meet CT’s changing energy needs - by Klein and Feinn

Recently passed legislation creates opportunities to meet CT’s changing energy needs - by Klein and Feinn

For decades, New England has had a summer-peaking power system, where the greatest energy use occurs on the hottest and most humid days, due to widespread use of air conditioning. But by the mid-2030s, electrification of the heating sector likely will result in a winter peak that’s higher than the summer peak.
IREM President’s Message: Fostering community connections during the holiday season

IREM President’s Message: Fostering community connections during the holiday season

The holidays are again taking center stage, and with them comes an opportunity for multifamily communities to connect with the businesses and organizations in their cities and towns, fostering a sense of unity and generosity during this giving season