Friendship Village Tempe senior living community will feature hundreds of Bollente Companies’ whole-home, electric tankless water heaters in 2018
Bollente Companies, Inc. (otcqb:BOLC) today announced that its trutankless line of smart water heaters has been chosen for both a retrofit project and new construction of townhomes at Friendship Village, a retirement community touted as “senior living for the young-at-heart,” located in Tempe, Ariz.
Developed in 1980 by The Weitz Company as one of the nation’s first Continuing Care Retirement Communities, Friendship Village has undertaken an aggressive retrofit project to cut utility costs and extend the replacement cycle of water heating equipment by replacing traditional tank water heaters in its 300+ cottages with energy-efficient, space- saving tankless units. The project is expected to be completed in 2018 with the first phase of around 100 trutankless water heaters already installed.
“Energy, water, and space savings for existing construction are hard enough to come by on their own, but trutankless offers all three,” said Brian Scott, Assistant Director at the Mesa, Arizona Friendship Village property. “Operators, investors, and developers in this industry should recognize trutankless as a long-term benefit to the bottom line. It’s a perfect fit for us as we expand, and for literally thousands of other communities to be built around the US in the coming years, because trutankless is an easy improvement to resident safety and lifestyle.”
The property is owned by Life Care Services Corporation, a leading senior living management and development company, which has begun construction of larger, upscale townhomes at Friendship Village for which trutankless is the water heating solution of choice.
“Continuing care communities are now one of the dominant areas for commercial real estate development,” said Ben Bunge, a Project Manager at The Weitz Company. “Demographics are driving the demand. The new wave of retirees want the freedom of independent living in a fun environment as well as the ability to remain in the same community as they age.”
By 2025, the number of senior living communities in the country is expected to rise by 21%, according to a report by Argentum, the largest national association exclusively dedicated to resident-centered senior living communities. Their focus on active lifestyles is taking advantage of the demographic shifts to attract Baby-Boomers looking for recreational amenities like yoga studios, healthy cooking classes, golf and tennis.
“With its small footprint, energy savings and inherent longevity, trutankless is an ideal solution for the senior living industry which is expected to continue to outpace the overall economy,” said Michael Stebbins of Bollente Companies. “Besides all the other benefits, trutankless has smart technology that makes it possible for maintenance crews to easily monitor hundreds of water heaters for usage data and safety compliance which means trutankless is uniquely poised for growth within the segment.”
Bollente Companies launched its first-generation trutankless unit at the IBS show in 2014, where it was named “Best Home Technology Product.” trutankless also took home the Governor’s Award of Merit for Energy and Technology Innovation at Arizona Forward’s Environmental Excellence Awards in the same year. Since then, the product has garnered a multitude of accolades for its forward-thinking technology and energy efficiency, including a silver award in the Appliance Design Excellence in Design contest, a Special Mention in the Architizer A+ Awards, and was named a Hot Product by the editors of Green Builder Magazine. Featured as a water saving device in Consumer Reports’ Top 5 Remodeling Trends for 2016 write-up, trutankless was also named “Best of Houzz” in January 2017 for the third consecutive year representing continued success among Houzz.com’s 40,000,000 homeowners.