Seniors Housing

Senior Living Facility, Symphony of Crown Point, Opens in Indiana

by Katie Sloan June 22, 2015

CROWN POINT, IND. — Symphony of Crown Point, a 66,598-square-foot, 100-bed senior living facility providing post-acute, short-stay rehabilitation care has opened in Crown Point, located about six miles south of Merrillville. Mainstreet and Symphony Post Acute Network developed the facility. Construction on the project began in May 2014. The complex offers a therapy gym, outdoor rehabilitation courtyard, spa, movie theater and an on-site chef. The project, which had a total investment of $16 million, has created 360 construction jobs and 100 permanent jobs at the property.

June 22, 2015

Florida Multifamily Seniors Housing Southeast

Roger B. Kennedy Inc. Breaks Ground on $8.7M Independent Living Community in Tampa

by John Nelson June 19, 2015

TAMPA, FLA. — Roger B. Kennedy Inc. has begun construction on Haley Park Apartments, an $8.7 million seniors independent living community in Tampa. The 80-unit project will be located at 13045 N. 15th St. and will feature a swimming pool, outdoor gathering areas with benches, gazebo and a dog park. Roger B. Kennedy plans to wrap up construction in May 2016. The design team includes architect BDG Architects and developer NVC Haley Park Ltd.

June 19, 2015

Aberdeen-NJ-Hudson-Ridge-Age-Restricted-Building

Multifamily New Jersey Northeast Seniors Housing

RPM to Develop Apartments and Age-Restricted Housing in Aberdeen, N.J.

by Jaime Lackey June 18, 2015

ABERDEEN TOWNSHIP, N.J. — RPM Development Group will develop a three-building affordable housing project that will include rental units for seniors and people of all ages, as well as a new senior community center, in Aberdeen Township. The project, which will feature two residential buildings, will be located on 14 acres on Church Street formerly occupied by South River Metals Corp. Hudson Ridge Senior Residence at Aberdeen will offer 67 one-bedroom and eight two-bedroom rental units of age-restricted housing for those 55 years or older. The second residential building, Hudson Ridge Residence at Aberdeen, will provide 70 one-, two- and three-bedroom rental units that will not have age restrictions. Preference on the rentals will be given to households that were impacted by Hurricane Sandy. Combined cost for constructing the two residential buildings will be $44 million. The site plan also calls for a separate 2,500-square-foot senior community center available for use by all residents of Aberdeen. Site work is anticipated to begin in the fall, with buildout expected to take two years. The project, which will strive for LEED certification, will be constructed with government assistance, including Community Development Block Grant (CDBG) Disaster Relief funding, along with 4 percent low-income housing …

June 18, 2015

Florida Multifamily Seniors Housing Southeast

Big Rock Partners Selects Balfour Beatty to Construct $60M Senior Living Community in Celebration

by John Nelson June 17, 2015

CELEBRATION, FLA. — Big Rock Partners has selected Balfour Beatty Construction as the construction manager for a resort-style, $60 million senior living rental community under development in Celebration. The new community will be Celebration’s first to offer independent living, assisted living and memory care services under one roof, with a total of 225 rental residences. Construction is projected to begin in late 2015 for an expected opening in mid-2017. The property will feature tree-lined fountains, gardens, an indoor pool, movie screening room, fitness center and a top-floor solarium for viewing nearby Disney World’s fireworks displays. Balfour Beatty is working closely from the conceptual phase with the project’s architect, Gensler. Life Care Services will operate and market the community upon completion. Sabra Health Care REIT provided Big Rock Partners with a $4.5 million acquisition loan for the land and anticipates providing additional financing for construction, according to Big Rock. Walker & Dunlop is Big Rock’s financial advisor for the project.

June 17, 2015

California Multifamily Seniors Housing Western

Fountain Square Development, HPI Architecture Complete California Community

by Nellie Day June 17, 2015

SIERRA MADRE, CALIF. — Fountain Square Development West and HPI Architecture have completed The Kensington of Sierra Madre, an assisted living and memory care community in Sierra Madre. Occupying 58,000 square feet, The Kensington comprises 75 total units, 33 of which are memory care. The facility also offers a salon and art studio that is open to the community.

June 17, 2015

Kansas Midwest Multifamily Seniors Housing

Construction Begins on The Healthcare Resort of Topeka

by Amy Works June 12, 2015

TOPEKA, KAN. — Mainstreet has broken ground on The Healthcare Resort of Topeka. Located at 6202 SW 6th Ave. in Topeka, the 69,935-square-foot facility will feature 96 beds and provide short-stay rehabilitation and therapy care, as well as assisted living. On-site amenities will include a therapy gym, an outdoor rehabilitation courtyard, movie theater, game room, spa and on-site chef. Slated to open by spring 2016, the $16 million project will bring 225 construction jobs and 90 permanent jobs to the area. Carmel, Ind.-based Mainstreet develops, finances and jointly operates transitional care centers and long-term health care properties.

June 12, 2015

Multifamily New Hampshire Northeast Seniors Housing

LCB Senior Living Breaks Ground for The Residence at Salem Woods

by Amy Works June 11, 2015

SALEM, N.H. — LCB Senior Living has broken ground for The Residence at Salem Woods, a seniors housing community in Salem. Located at 6 Sally Sweets Way, the 77,000-square-foot community will feature 84 units, including a mix of studio, one-bedroom and two-bedroom units, a memory care wing, a library, computer room, walking paths, a salon and recreation areas. Eckman Construction is serving as general contractor and Chelsea, Mass.-based The Architectural Team is architect of record. Completion is slated for early 2016.

June 11, 2015

Loans Multifamily Seniors Housing Texas

Love Funding Secures $16.4M Loan for Seniors Housing Development in Metro Dallas

by Haisten Willis June 10, 2015

MCKINNEY, TEXAS — Love Funding (LFC) has secured a $16.4 million loan for the construction and financing of a new seniors housing community in McKinney. This is the second loan LFC and its local Dallas associate, Warsaw Realty Group, have provided in this community to partners David Brooks and George Fuller. St. Paul’s Square Senior Living will open in Adriatica Village. Work began eight years ago on the initial stages of the development, which included structured parking, a chapel surrounded by water, single-family homes and condominiums, retail stores, restaurants, medical offices and a weekly farmer’s market under a 128-foot tall bell tower. The village was designed so that residents can leave their cars at home on evenings and weekends. The new apartment addition, which is being funded by FHA financing secured by Love Funding senior director Laura Saull-Smith, will be a four-story, mid-rise apartment community with 121 units, all restricted to those aged 62 and older.

June 10, 2015

Multifamily Seniors Housing Texas

Seniors Housing Community to Undergo $36 Million Renovation/Expansion in Dallas

by Haisten Willis June 10, 2015

DALLAS — Edgemere, a seniors housing community in Dallas, will soon undergo a large-scale renovation and expansion project to address the growing demand for senior living options in the local area. Financing for the project was completed through the sale of $36 million in Series 2015 bonds. When complete, the project will add between 30 and 40 new jobs to the local economy. The renovation project is designed to bridge the gap between the Italian style that Edgemere is known for and the modern luxuries that current and future retirees are seeking. A 6,000-square-foot performing arts center will be built to provide a larger abundance of entertainment options. An extensive renovation is planned for the two dining venues aimed at giving them the look and feel of authentic restaurants in Italy. The Plaza at Edgemere will also be undergoing an expansion that will add eight new assisted living apartment homes, 12 new memory support suites and 15 new skilled nursing private suites. The Plaza commons areas will also be updated with indoor/outdoor courtyards and renovated dining areas. An underground parking garage will be added.

June 10, 2015

Illinois Midwest Multifamily Seniors Housing

Providence Life Services, Ryan Companies US Develop Seniors Housing Project in Illinois

by Amy Works June 10, 2015

LISLE, ILL. — Providence Life Services and Ryan Companies US Inc. are developing Arbor Place of Lisle, an 80-unit, age-restricted affordable senior living community in Lisle, located about 25 miles west of Chicago. The $20.6 million project features 60 one-bedroom/one-bath and 20 two-bedroom/two-bath units, ranging from 756 square feet to 1,008 square feet. On-site amenities include a living room and common kitchen, a multi-purpose room, a TV/library room, on-site laundry facilities, a private courtyard with gazebo and fitness center. Additionally, the facility features 94 exterior parking spaces. Pioneer Property Management will provide on-site property management services for the property, which is slated to open in July. Residents at Arbor Place of Lisle must be 55 or older.

June 10, 2015

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