Emerald Communities Completes $145M CCRC Near Seattle
GIG HARBOR, WASH. — Emerald Communities has opened Heron’s Key, an 18-acre continuing care retirement community (CCRC) in the Seattle suburb of Gig Harbor.
Development costs were estimated at $145 million. Ziegler provided bond financing for the project and construction began in June 2016.
The community offers a total of 275 units: 184 independent living apartments, 10 independent living cottage homes, 36 assisted living apartments and 45 private skilled nursing beds. Independent living homes range from 729 to 1,800 square feet.
Heron’s Key offers an financing plan that includes a one-time, 75 percent-refundable entrance fee.
This will be the first CCRC in the county, and the largest project ever built in Gig Harbor, according to Emerald Communities, a Seattle-based operator.