Chairman of the United Church Housing Corporation (UCHC) Regina, Saskatchewan, received some information from an external consultant who was hired to evaluate the state of UCHC. This non-profit organization operated for over 50 years and has established policies for many older people who are cheap and offer personal independence. In 2005, the Board approved a new four-UCHC assisted living facility, Wascana wing, which was to be built in response to long waitlists. With this decision, the Board took UCHC of $ 3 million mortgage financing. Since the opening of the new facility, UCHC have been plagued by high vacancy rates in the new for-profit competitors have entered the market for senior housing. The combination of high vacancy rates and a highly leveraged financial position UCHC been a source of losses from 2006 to the present. Breakeven mentality board is not working. UCHC was at major intersections - the housing situation of more than 100 seniors who live in assisted living apartments and houses need to be resolved at the next meeting. The question was whether or not June, a retired nurse, would recommend to the Council to continue the elimination of UCHC or make suggestions that require major changes to the existing business model. "Hide
by Peter Frost, Edward Gamble, Stewart Thornhill, Peter Mayne Source: Richard Ivey School of Business Foundation 14 pages. Publication Date: June 8, 2012. Prod. #: W12433-PDF-ENG
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