MISSOURI CITY, TEXAS — The LaSalle Group will break ground May 12 on the Autumn Leaves at Riverstone assisted living facility. Located at 20313 S. University Blvd. in Missouri City, the property will focus on caring for patients stricken by Alzheimer's and other diseases that impair memory. Constant Care Management Co. will oversee day-to-day operations of the property once construction is completed.
UNION CITY, GA. — Ambling Development Partners has arranged $18.7 million in funding for the 150-unit Woodbridge at Parkway Village senior housing facility and will break ground on the project this month. The 146,000-square-foot Union City property will be located on 6.67 acres of land and will feature a movie theater, a cyber café, a library and a fitness center. Funding was obtained through low income housing tax credits, the Hope VI Redevelopment Plan and other state and county sources. Rockport Mortgage Corp., Red Mortgage Capital Group and Merchant Capital helped arrange the financing. Delivery is slated for June 2011.
RIVERDALE, ILL. — Turnstone Development Corp. has selected McShane Construction Co. to complete the renovation of Riverdale Senior Apartments, which is located at 335 W. 138th St. in Riverdale. The five-story, 52-unit multifamily project will offer public and affordable housing options, including 43 one-bedroom apartments and nine two-bedroom apartments; a community room; on-site laundry; two elevators and a social services office. Additionally, the property will feature three ADA accessible units and eight ADA adaptable units. The project is receiving funding from the American Reinvestment and Recovery Act through the U.S. Department of Housing and Urban Development, the Housing Authority of the County of Cook and the County of Cook’s Department of Planning and Development. Piekarz Associates is providing architectural services for the project, which is scheduled for completion in December.
CAMBRIDGE, MASS. — The Cambridge Housing Authority (CHA) has selected Skanska USA to complete a $23.5 million modernization of the Lyndon B. Johnson Apartments in Cambridge. The 180-unit senior housing project opened in 1973 and is located at 150 Erie St. The modernization will focus on increasing energy efficiency at the property. Energy use will be reduced 50 percent through the installation of rooftop solar panels, co-generation systems and energy recovery units. A layer of insulation will be added to the building exterior. Energy-efficient windows, lighting and low-flow fixtures will also be installed. The building's electric baseboard heating system will also be replaced with gas-fired hydronic heating. The renovated building will meet the standards for HUD's Green Communities Program for Substantial Renovations. Funding is coming, in part, from a $10 million grant awarded to the CHA as part of the American Recovery and Reinvestment Act. Construction will begin in August and is expected to last approximately 18 months.
SUPERIOR, WIS. — New Perspective Senior Living has broken ground for the development of The Lighthouse of Superior, a senior housing community in Superior. The state-of-the-art facility will offer assisted-living and memory-care residences. Ryan Companies US is serving as general contractor on the project, which is scheduled for completion this fall.
HASTINGS, NEB. — NorthMarq Capital has arranged a $6.5 million first mortgage loan on behalf of College View Assisted Living LLC for College View in Hastings. The assisted-living facility offers 58 residential units. Financing was based on a 35-year term with a 35-year amortization schedule. Gary Rifkin of NorthMarq arranged the loan through the company’s relationship with Johnson Capital FHA.
CHICAGO — McShane Construction Co. is nearing the completion of Casa Maravilla, a five-story, 70,000-square-foot senior-living project in the Pilsen neighborhood of Chicago. Located at 2021 S. Morgan St., the 73-unit complex will offer studio, one- and two-bedroom affordable rental units, a dining area, a community room, a therapy room, a library and a recreation room. Weese Langley Weese provided architectural services for the project, which is slated for completion in June. The Resurrection Project is developing the property.
TUSCALOOSA, ALA. — Capstone Village Inc. has sold the 159-unit Capstone Village retirement community to a private party for an undisclosed price. The property, which was completed in 2006, is located on 24 acres on the University of Alabama campus in Tuscaloosa. Capstone Village encompasses 22 independent living homes, a 29-unit health center and 108 apartments. CLW Health Care Services Group represented the seller.
WHEATON, ILL. — Des Moines, Iowa-based Life Care Services (LCS) has purchased Wyndemere Senior Living Community in Wheaton. The property’s former owner, Central DuPage Hospital, selected LCS to purchase and improve the community. Located at 200 Wyndemere Circle, the property serves adults in Chicago’s western suburbs. Terms of the acquisition were not disclosed.
CORPUS CHRISTI, TEXAS — Senior Quality Lifestyles Corp. and Greystone Communities have gathered $79.04 million in financing for the 17-acre Mirador senior housing community. The money was obtained through a bond sale. The property, which will open in 2011, is located in Corpus Christi. Mirador will feature 125 apartment homes, 44 assisted-living suites, 41 private nursing care rooms and 18 private memory-support residences. Andres Construction will employ more than 300 workers to build the property.