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Omega: Pandemic challenges high-rise opening, development, acquisitions

Omega Healthcare Investors and Maplewood Senior Living hope to open their Manhattan high-rise assisted living and memory care community “as soon as possible,” Omega Chief Corporate Development Officer Steven Insoft said Friday on the real estate investment trust’s third-quarter earnings call.

Work on the $310 million Inspir Carnegie Hill is complete, and the building is pending licensure from the New York State Department of Health, which could come “probably sometime in the next week or so until year end-ish,” he said, noting the “tough environment” for state officials during the coronavirus pandemic.

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