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CEO Jim Coughlin of Northbridge Companies is focused on enhancing the company’s affordable senior living model and expanding it further north. The provider has seen growth in margin and revenue this year, with a rental rate increase and a focus on expense management to drive sustainability.
Northbridge is also working on new development projects, including a partnership with Amazon in the Washington D.C. area to offer affordable rates for residents using Medicaid waivers. The company is committed to providing affordable senior living options in various markets to meet the growing demand.
Growing the affordable assisted living model
Northbridge’s successful affordable senior housing projects in Washington, D.C. and other areas, including a partnership with Amazon, have led to plans for further expansion in Northern Virginia and Massachusetts. The company aims to solve the affordability issue in senior living by coordinating programs and building partnerships.
Coughlin emphasizes the importance of shifting mindsets and seeking guidance from experts to develop successful affordable housing models. Northbridge continues to explore new opportunities for growth, including potential acquisitions and development projects in Massachusetts.
Building a ‘pipeline of potential candidates’
With a focus on staffing and employee development, Northbridge has implemented training programs and career advancement opportunities to attract and retain talent. The company’s data-driven approach to managing staff hours and reducing turnover is gaining recognition from capital partners and investors.
