The residential and commercial developer tapped Nichols to help it expand development of independent living, assisted living, memory care, and active adult communities.
By Steve Lubetkin | March 08, 2019 at 04:00 AM
FAIRFIELD, NJ—Woodmont Properties, focusing on rising opportunity in the senior housing sector, has formed a new senior housing division and is naming veteran senior housing executive Stephen Nichols to lead the division.
Nichols, whose experience includes executive positions with Brightview and Atria Senior Living, will oversee strategy for the development and operations of Woodmont’s senior communities, and will focus on walkable and transit-oriented markets that are well suited for the development of independent living, assisted living, memory care and active adult properties.
“As we continue to evolve and grow our portfolio, we believe there is great opportunity to meet the immense demand for high-quality senior housing options across New Jersey, New York and Pennsylvania,” says Eric Witmondt, chief executive officer of Woodmont Properties. “We’re excited to take the experience we’ve gained through the creation of luxury apartment communities in some of the region’s best transit towns and downtown neighborhoods and applying it to the development of world-class senior housing communities.”
“Woodmont has the experience and resources to build several types of senior housing products, and I’m thrilled to be given the opportunity to lead this exciting effort,” says Nichols. “We are already targeting multiple towns that could benefit from senior housing development, and I’ll be focused on executing on Woodmont’s vision for the senior housing sector with the same level of quality that has become the Woodmont standard.”
Before joining Woodmont, Nichols was an executive director with Brightview Senior Living, where he focused on the construction, lease up and operations of new senior housing communities across the New Jersey and New York markets. He was also a regional vice president with Atria Senior Living, where he was responsible for the development of 18 communities from The Bronx, New York to Waterbury, Connecticut.