Citing a desire to be part of the city’s resurgence, Elderwood Senior Care is moving the bulk of its administrative operations downtown to Buffalo’s Hydraulics District.
Elderwood signed a 10-year lease for 25,000 square feet at 500 Seneca St., where it will house management and back office services, as well as offices for its managed long-term care program, its maintenance and construction subsidiary and training functions of its Elderwood Learning Center. In all, about 70 individuals will move to the site.
Other tenants at the restored former F.N. Burt Co. include Savarino Cos., developer of the facility, as well as Leadership Buffalo and Frontier Industrial Corp. The building also houses Tommyrotter Distillery, a restaurant, a dog daycare, exercise facilities as well as 110 apartments.
Co-CEOs Jeffrey Rubin and Warren Cole have expanded transportation services and pharmacy services and added managed long-term care services. A major home-care initiative is also in the works, along with acquisitions of several additional senior-care operations, including a pending deal for the long-term care bed license at TLC Health’s Lake Shore Health Care Center.
Cole said moving closer to the downtown medical corridor allows the company to continue to grow relationships with hospitals, accountable care organizations and payers. The new space is just over two miles from the heart of the Buffalo Niagara Medical Campus.
“The evolution of post-acute services and health-care reform has created a new kind of relationship between the medical community and the post-acute services company that requires a level of collaboration that never existed before,” he said.
Samuel Savarino, owner and CEO at Savarino Cos., said Cole wanted a space to consolidate operations for the company, but saw additional opportunities as well.
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