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A driving force in Artessa’s latest developments across Minnesota, and soon in the Southwest, CEO Tim Nichols sat down with Finance & Commerce to share insights on his current role and top expansion opportunities, as well as what makes our 62+ co-ops stand out from other retirement communities.
Tim, who closely collaborates with Lifestyle Communities President Dena Meyer to bring new housing options to older adults in fast-growing areas, explained why enhanced walkability, convenience and freedom for people 62 and up — who don’t require medical assistance — is an industry game-changer.
“We just don’t develop senior housing,” Tim said. “In the senior housing model…independent living is an oxymoron. Independent living attached to assisted living and memory care, is still dependent housing.”
Artessa aims to disrupt the longstanding notion of grouping older adults who can still live independently with those who need everyday care. Offering homes to own in easily commutable areas, surrounded by amenities like fitness centers, outdoor gathering space and entertainment suites, make this reality.
An established real estate lender and master developer, Tim has owned and operated several financial and development companies specializing in multifamily housing, with an acute focus on housing cooperatives, for more than three decades.