Local Nonprofits Benefit from Ramada Purchase

Imagine purchasing a hotel that is to be repurposed and having to figure out what to do with the contents of its 150 fully furnished rooms, lobby and restaurant.

Wallick contemplated hiring a company to take everything away but then devised a more creative solution: donate these items to area nonprofits.

This week and next, Wallick will distribute hundreds of items—beds, linens, towels, furniture, appliances and more—to four local charities.

Wallick’s Heart of Service Committee coordinated the effort. Heart of Service is an associate-led group tasked with engaging the company’s associates in giving through service.

Wallick Communities — Finalist for Business First Best Places to Work Award

Two of Wallick Communities’ most important, ongoing business goals are to be a great place to live for our residents and a great place to work for our associates.

We are proud to be named a finalist for Business First newspaper’s “Best Places to Work” in the mid-size business category for the third year in a row. This recognizes the top companies in Central Ohio based on confidential employee satisfaction surveys.

Wallick Forges New Ground in Assisted Living

Wallick Communities is one step closer to introducing an assisted living product designed for seniors of all income levels—a revolutionary idea in the marketplace.

The company recently acquired the 50-year-old Ramada Columbus Airport hotel located at the corner of Broad Street and Hamilton Road in Whitehall, Ohio. It plans to transform the hotel property into 131 assisted living suites, with space for dining, activities and resident care.

Wallick purchased the hotel for $2.1 million and will invest nearly $10 million in improvements. Construction is expected to begin in early February.

“This project is clearly unique because it’s one of the very few assisted living communities designed to serve this specific market segment,” said CEO Tom Feusse. “It’s also quite timely, considering that well over 50 percent of seniors today cannot afford assisted living.”

“This new product addresses that large and significantly underserved market,” said Feusse. “Wallick is uniquely positioned to do so, given our experience in both assisted living and affordable housing.”

The new community will be named Laurel Woods on Broad and is slated to open in the spring of 2016.

Developing innovative new products to serve emerging needs. Another answer to the question, “Why Wallick?”

Wallick’s Newest Business Unit Brings Value to Owners

Since its creation in late 2012, Wallick’s Asset Management team has already created economic value for third-party property owners and for the company. Acting as the owners’ representative, this team has:

  • Acquired four new properties and limited partnership interests in more than 35 properties
  • Sold two non-core properties
  • Raised new capital through a private placement transaction
  • Re-financed 11 properties through various financing programs
  • Applied for and received a Multi-Family Housing Preservation and Revitalization (MPR) award from USDA Rural Development
  • Worked with Property Management to improve operations, including optimizing rents and reducing real estate taxes
  • Established a system of key metrics to quickly identify property performance issues
  • Turned around troubled assets

“This past year was a mix of offense and defense, as well as some home runs,” said Wallick Senior Vice President of Asset Management Sharon Shaffer. “Looking ahead, we intend to continue to enhance the value of our portfolio, with the ultimate goal of having every community one that any of us would be proud to call home.”

This value added service benefits residents, community owners and Wallick. Another answer to the question, “Why Wallick?”

Wallick Does it Again — Redefining Senior Living

Nearly 30 years ago Wallick redefined and raised the bar for senior living with the development of its assisted living communities, Oakleaf Village of Toledo and Oakleaf Village of Columbus. Those communities continue to thrive today, providing valued care and services to over 250 senior residents.

Now, Wallick Communities is extending its reach into the senior living market with a new value-driven product. Wallick is creating assisted living communities for seniors, regardless of their level of income.

“There is a significant, growing need for assisted living communities for seniors at all income levels. While the market is generally meeting the needs for seniors with means, there is a significant unmet need for most other seniors. We’re looking to fill that need,” said CEO Tom Feusse.

Wallick is already working on new developments around the Midwest to address this market. Look for more news in the near-term as these plans become reality.

Leading the demographic wave. Another answer to the question, “Why Wallick?”

Hotel furniture in charities’ hands

New Team Drives Development Activity Well Above Expectations

Wallick Raises Equity via Opportunity Zone Fund

Wallick Acquires Affordable Housing Portfolio

Wallick Works to Shape Industry Through Advocacy and Education

Wallick Leverages Internal Social Media to Drive Affordable Housing Occupancy

Year in Review: The Best of Wallick’s 2018

Wallick Completes New, Innovative Memory Care Community

Wallick Continues to Rehabilitate Affordable Communities Across Kentucky

Wallick Builds Management Team to Support Growth

Year in Review: Wallick’s Top Stories from 2017

Wallick Breaks Ground on Third Ashford Community