​One of the things NIC’s Kramer has noticed as their data have rolled in is that freestanding memory care facilities are still getting financing for new development. “Some companies are developing small freestanding dementia care properties,” he says. “They’re licensed as assisted living but strictly provide memory care services.”

An example is Autumn Leaves, based in Dallas, whose 46-unit facilities—licensed as assisted living but providing solely Alzheimer’s and dementia care—are developed using conventional financing.

Other such providers are developing eight-unit or 16-unit pods, with two or three pods in one location. In other words, they are small developments.