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Seniors Housing

Club-Briarcliff-Manor
DevelopmentMultifamilyNew YorkNortheastSeniors Housing

Senior Lifestyle Corp. Opens The Club at Briarcliff Manor Near New York City

by Alex Patton

BRIARCLIFF MANOR, N.Y. — Senior Lifestyle Corp. has opened The Club at Briarcliff Manor, a seniors housing community in Briarcliff Manor, a village along the Hudson River located approximately 30 miles north of New York City. The property offers 167 independent living units, 87 assisted living units and 33 memory care units in two interconnected buildings. Apartments range from 605 square feet to 1,040 square feet, with monthly rents starting at $7,350. The site was formerly housed Briarcliff Lodge, a grand resort hotel built in the early 1900s.

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Solstice-Mesa-AZ
ArizonaDevelopmentMultifamilySeniors HousingWestern

Alliant Capital, Dominium Plan 237-Unit, Age-Restricted Community in Mesa, Arizona

by Amy Works

MESA, ARIZ. — Alliant Capital and Dominium have unveiled plans for Solstice of Mesa, an affordable seniors housing community in Mesa. All 237 units will be reserved for those over age 55 and earning up to 60 percent of area median income. Development is slated for completion in October 2021.

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The-Bluffs-Flagstaff-AZ
ArizonaDevelopmentMultifamilySeniors HousingWestern

Desert Land, Civitas Senior Living Break Ground on 210,572 SF Bluffs of Flagstaff in Arizona

by Amy Works

FLAGSTAFF, ARIZ. — Arizona real estate developer Desert Land Group and Texas-based senior living management company Civitas Senior Living have started construction on their newest senior living boutique project, The Bluffs of Flagstaff. Totaling approximately 210,572 square feet, the community will feature 120 independent living, 66 assisted living and 18 memory care apartments. The Bluffs of Flagstaff is scheduled for completion in fall 2021. The architect for the project is Kaas Wilson, with Greenberg Construction as general contractor. Senior By Design is providing additional design services.

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seniors-cinnaminson
DevelopmentMultifamilyNew JerseyNortheastSeniors Housing

Capitol Seniors Housing Completes New Clubhouse, Residences at Community in Cinnaminson, New Jersey

by Alex Patton

CINNAMINSON, N.J. — Capitol Seniors Housing has completed construction of a new clubhouse and two of the remaining five residential buildings at Siena, an active adult community in Cinnaminson, an eastern suburb of Philadelphia. The owner is currently working to complete the community’s master plan that will consist of 12 buildings and 204 units upon full build-out. The new residences range from 1,114 to 1,873 square feet. Capitol Seniors Housing acquired Siena in 2018, and Cove Property Management operates the community.

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DevelopmentFloridaMultifamilySeniors HousingSoutheast

Allegro Senior Living Opens 212-Unit Community in Dadeland

by Alex Tostado

KENDALL, FLA. — Allegro Dadeland has opened a 212-unit senior living community at 7400 SW 88th St. in the Miami suburb of Kendall. The high-rise, pet-friendly Dadeland complex offers one-, two- and three-bedroom layouts. Communal amenities include housekeeping, transportation, dining venues, a bar, fitness center, salon, theater, valet parking, common areas and a pool. The community is situated in mixed-use neighborhood, adjacent to restaurants and the Dadeland Mall.

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AcquisitionsMultifamilySeniors HousingTexas

Cushman & Wakefield Brokers Sale of Two Seniors Housing Assets Totaling 265 Units in Metro Dallas

by Taylor Williams

IRVING AND PLANO, TEXAS — Cushman & Wakefield has brokered the sale of two seniors housing communities totaling 265 units in the Dallas area. The communities include MacArthur Hills in Irving and Prestonwood Court in Plano. The two Class A, infill properties offer a combination of independent living, assisted living and memory care services. The Cushman & Wakefield team involved in the transaction included Richard Swartz, Jay Wagner, Jim Dooley and Chris Remeika. The buyer and sales price were not disclosed.

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encore-luxury-living
DevelopmentMultifamilyNew YorkNortheastSeniors Housing

Engel Burman Opens 102-Unit Seniors Housing Community on Long Island

by Alex Patton

JERICHO, N.Y. — Jericho-based developer Engel Burman has opened Encore Luxury Living, a 102-unit seniors housing community in the Long Island hamlet of Jericho. The 160,000-square-foot property offers active adult living with 59 one-bedroom units, 42 two-bedroom units and one three-bedroom unit. Unit sizes range from 826 to 1,500 square feet, and rents start at $8,400 per month. Encore will share a campus with Engel Burman’s existing 200,000-square-foot assisted living community, The Bristal at Jericho.

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AcquisitionsMultifamilyNortheastPennsylvaniaSeniors Housing

Blueprint Arranges Sale of 180-Unit Seniors Housing Community in Metro Philadelphia

by Alex Patton

WYNDMOOR, PA. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Wyndmoor Hills, a 180-unit rental continuing care retirement community (CCRC). The community is located on 12 acres in Wyndmoor, a northern suburb of Philadelphia. The building totals 214,288 square feet. A regional buyer acquired the property for an undisclosed price with plans to reposition it. Steve Thomes, Michael Segal and Dan Mahoney of Blueprint were the lead advisors on the transaction.

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AcquisitionsMassachusettsMultifamilyNortheastSeniors Housing

OREC Securities Brokers Sale of Pleasant Bay Nursing and Rehabilitation Center on Cape Cod

by Alex Patton

BREWSTER, MASS. — OREC Securities has brokered the sale of Pleasant Bay Nursing and Rehabilitation Center in the Cape Cod town of Brewster. The community houses 135 skilled nursing beds and 59 assisted living units. Although the original plan was to split the community into two separate sales, a regional owner-operator bought the properties as a single asset. Laca Wong-Hammond, Chad Elliott, Kevin Laidlaw and Aaron Becker led the transaction for OREC. The seller and price were not disclosed.

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FeaturesMultifamilyNortheast Feature ArchiveSeniors Housing

Aging-in-Place Technology Has Its Limits, Says a Reassuring InterFace Seniors Housing Panel

by Jeff Shaw

PHILADELPHIA — Will today’s emerging aging-in-place technologies, designed to help the elderly remain in their own home for a longer period of time, lead to significantly reduced demand for seniors housing? The question was a hot topic at the InterFace Seniors Housing Northeast conference last Thursday in Philadelphia following a recent front-page article in The Wall Street Journal under the following headline: “Boomers Want to Stay Home. Senior Housing Now Faces Budding Glut.” The piece argues that aging-in-place technology poses a challenge to builders of senior living communities, particularly at a time when developers are adding new supply at a healthy clip and occupancy rates remain relatively stagnant. Nationwide, the occupancy rate for seniors housing (assisted living and independent living combined) was 88 percent in the third quarter of 2019, up 30 basis points from the prior quarter, but down from 90.2 percent in the fourth quarter of 2014, according to the National Investment Center for Seniors Housing & Care (NIC) based in Annapolis, Maryland. Seniors housing developers added 21,332 units in 2018, more than double the number added in 2014, The Journal reported based on NIC data. Venture capitalists and other companies are expected to invest about $1 billion this year …

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