Unisen Senior Living, previously known as University Village, is a senior living facility located near the University of South Florida in Tampa. The facility recently filed for Chapter 11 bankruptcy protection, leading to the displacement of over 100 residents. The previous owners of University Village faced accusations of fraudulent behavior, including filing false information and failing to pay over $4 million in refunds to residents. As a result of these allegations, the facility underwent a rebranding as Unisen Senior Living.
Residents of Unisen Senior Living are currently in the process of finding new places to live as the facility seeks to sell the site to a buyer who will repurpose it for residential or student housing. The not-for-profit owner, Tampa Life Plan Village Inc., expressed their inability to sustain the current occupancy rate of only 106 out of 491 units. The company's bankruptcy filing indicates plans to spend between $10,000 and $30,000 per resident to assist with their relocation.
Despite the efforts of the new management to keep the community viable, residents are mourning the loss of their longtime home and friends. Many of the residents at Unisen Senior Living are owed significant amounts of money, with some creditors owed between $300,000 and $485,000. The bankruptcy of Unisen Senior Living marks the first instance in the last 30 years where residents of a continuing care retirement community have been forced to move due to financial troubles.
As Florida insurance regulators oversee the situation, the Office of Insurance Regulation is prioritizing the protection of Unisen Senior Living residents during this challenging time. The facility had previously invested $25 million in remodeling its apartments and shared spaces in an effort to enhance the living environment for residents. However, despite these efforts, the financial difficulties faced by Unisen Senior Living have led to a significant upheaval for its elderly residents, both financially and emotionally.