KCR Corporation, founded in 1980 by Jon D. Rappaport, originated as a commercial real estate brokerage and development firm in Minneapolis. Over the years, it has transformed into a versatile private holding company with a focus on various business investments, finance activities, and asset management services. The company's roots can be traced back to Mr. Rappaport's commitment to historical renovations and senior housing developments. Through partnerships and mergers with Kensington Properties, KCR made significant strides in the assisted living sector during the 1980s and 1990s, branding many of its developments under 'The Kensington' name. These initiatives included converting hotels and institutional properties into supportive senior living environments, which became prominent in numerous states across the U.S.
KCR Corporation was also pivotal in establishing standards for the assisted living industry, with Mr. Rappaport serving as a founding member and executive officer of the Assisted Living Federation of America (ALFA). His innovations in small-scale shared housing, particularly through the Kensington Cottages concept, have set benchmarks for memory disorder care.
In the late 1990s, following the sale of the company to Karrington Health, KCR shifted its focus from assisted living development to managing a diversified real estate investment portfolio. This portfolio encompasses not only commercial and multi-family residential properties but also includes unique ventures like a Luxury Residence Travel Club and a Homeowners Association Management company.
The 2000s saw further expansion into niche markets with new business initiatives led by Mr. Rappaport and his son, Fred. These ventures included a finance company for sale/leaseback transactions, a lake weed removal business, a shared housing developer, and a waste management enterprise.
Today, KCR Corporation continues to seek out innovative business and development opportunities both domestically and internationally, applying its rich heritage in real estate and investment management to adapt and thrive in a changing marketplace.
