Industry Trend - Senior living communities are increasingly partnering with colleges, with at least 85 such communities in the US [1] - These partnerships represent a small fraction of the total senior living facilities in the US, but are gaining momentum [5] Financial Implications - Broadview pays Purchase College $2 million annually for land rental [3] - 75% of the rental income is earmarked for student scholarships, and 25% for faculty and staff support [3] - College enrollment has declined due to lower birth rates since the 2008 financial crisis, leading to a 15% decline between 2010 and 2021 and the closure of at least 40 schools since 2020 [4] - Universities are exploring partnerships with senior living facilities as a way to generate new revenue [4] Partnership Considerations - Successful partnerships require genuine collaboration, not just a focus on filling budget gaps [5] - These arrangements can create a "win-win" situation, fostering lifelong learning and intergenerational engagement [5][6]