FORT WAYNE, IND. — BRT Realty Trust has completed the disposition of Fort Wayne Hotel and Conference Center. Located at 300 E. Washington Blvd. in Fort Wayne, the 14-story, 208-room property will be converted into a senior living facility. Additional details about the conversion were not released. Walker Geyer and Brent Clemens of Paramount Lodging Advisors represented the seller in the transaction. The buyer and acquisition price were not disclosed.
SOUTH CAROLINA — Royal Senior Care has brought on Cornerstone Healthcare Plus REIT as an 80 percent partner in two assisted living properties in a deal worth $27 million. The developments are located in South Carolina and total 180 units. Royal Senior Care will continue managing the properties. CLW Health Care Services Group represented Royal Senior Care in the transaction.
DOUGLASVILLE, GA. — Batson-Cook has finished the construction of the 39,000-square-foot Benton House senior housing facility in Douglasville. The $3.7 million project has 59 units and can house 130 residents. Amenities include an activity kitchen and a hair salon. Marietta, Ga.-based Lamas Architects designed Benton House.
OAKLAND, CALIF. — BRIDGE Housing Corp. has begun redevelopment for the 84-unit St. Joseph's Senior Apartments property located at 2647 International Blvd. in Oakland. Slated for completion in June 2011, the multifamily property will offer affordable apartments for very-low-income seniors, age 62 and older, within the main building of the Oakland historic landmark, “St. Joseph's Home for the Aged,” which closed in 1979. On-site amenities will include a spacious, ground-floor community room opening onto a senior garden and approximately 3,200 square feet of commercial office space.
COOK, MINN. — Ryan Companies US has completed the construction of Carefree Living – Cook, a senior housing project in Cook. Owned by Spectrum Health Co., the 20,000-square-foot property features 16 assisted-living suites and 13 memory-care units. DJR Architects provided architectural services for the $3.1 million project.
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.