While March 8 is the day Mahoney House is planning to close its doors, Tammy Coffey, Mahoney House executive director, said the residents will come first. “We’ll be open until the very last resident has moved out,” Coffey said. “We are helping families and residents find their new homes.”
Many residents have arrangements already set up, Coffey said. “It’s gone smoother than what I expected to be,” she said. “That’s the smoothest process so far.” Coffey estimated 95% of residents had housing plans following Mahoney House’s closure.
Coffey was notified early February, and took on the difficult burden of telling staff the next day. “There are several employees that have secured jobs already,” Coffey said.
Residents and families were informed quickly as well. “I found out from a letter that was given to residents,” Kysl said. Though her 97-year-old mother has dementia, Kysl said she’s been coping with the upcoming change well. “She’s had a few tough things in her life – she has the habit of meeting tough things with a sense of humor,” Kysl said, adding: “We could not have asked Mahoney House’s staff to do as well as they did.”
Coffey cited a loss of financial backing from their investment group, LTC Properties, Inc, which finances senior housing in 27 states throughout the nation, according to its company website. A fiscal year ending Dec. 31, 2019 U.S. Securities and Exchange Commission Form 10-K, which serves as an annual overview of a company’s financial condition, states LTC Properties invests “primarily in seniors housing and health care properties through sale-leaseback transactions, mortgage financing, joint ventures and structured finance solutions including mezzanine lending.”