MARCO ISLAND, FLA. — Chancey Development, in partnership with BRW Development and Watermark Retirement Communities, has delivered The Watermark at Marco Island, a new, 86-unit seniors housing community on Marco Island in southwest Florida. This marks the first senior living community on the island. Totaling 103,000 square feet, the property features 66 assisted living and 20 memory care units. Chancey Architecture & Design designed the community, with Wichman Construction serving as the general contractor. Chancey also partnered with the City of Marco Island to create a public park adjacent to the property, which is located with proximity to an urgent care facility.
Seniors Housing
NORTH RICHLAND HILLS, TEXAS — Cambridge Realty Capital has provided a HUD-insured loan for Ashwood Court, a 120-bed assisted living facility in North Richland Hills, located north of Fort Worth. The loan amount was not disclosed, but Cambridge originated the debt through as part of a $19.3 million package that also includes financing for Northland Rehabilitation & Healthcare Center, a 118-bed skilled nursing facility in Kansas City. Brent Holman-Gomez of Cambridge Realty Capital secured the debt through HUD’s 223(f) program. The borrower was not disclosed.
NEWTON, MASS. — MassDevelopment has provided $134.8 million in tax-exempt bond financing for Lasell Village, a seniors housing community located in the western Boston suburb of Newton. The owner, an entity doing business as Lasell Village Inc., will use the proceeds to renovate and expand the property. Regarding the renovation aspect of the deal, ownership plans to revamp its main building by adding seven supported living units and modernizing its skilled nursing program to include all-private rooms. Regarding the expansion, ownership has purchased a 1.4-acre tract with plans to construct a new building with 42 independent living units, a bistro, fitness and wellness centers, a multi-purpose room and common spaces.
BohlerContent PartnerDevelopmentFeaturesMidwestMultifamilyNortheastSeniors HousingSoutheastTexasWestern
Innovative Design Can Promote Positive Outcomes for Continuum of Care Residents
As the demand for senior living communities continues to rise, so does the complexity of designing environments that meet the evolving needs of residents across the entire continuum of care. Facilities that seek to cater to independent living, assisted living, memory care, skilled nursing and rehabilitation needs must strike a balance: fulfilling stringent functional and regulatory requirements while remaining inviting, promoting connection to nature and others and offering comfort for people of all ages and abilities. The biggest challenge, according to designers and seniors housing experts alike, is “seamlessly weaving protective elements, like perimeter security or grade changes, into a design that feels warm and inclusive, not institutional,” explains Adam Alexander, director of planning, landscape architecture and design at Bohler, a land development design and consulting firm. “Features like fences or bollards don’t need to be emphasized as one-note safety features. They should be invisible contributors to a resident’s experience of comfort and care.” An overall trend toward smaller sites for seniors housing means that continuum of care communities are innovators in inclusive and multi-purpose space use. They may also serve to address increasing calls for solutions to the loneliness epidemic ongoing in the lives of many adults. While less square …
Greystar to Develop 175-Unit Active Adult Project at Annapolis Town Center in Maryland
by John Nelson
ANNAPOLIS, MD. — Greystar has announced plans to develop a new active adult project in Annapolis. Upon completion, the unnamed community will total 175 units, with a mix of one-, two- and three-bedroom residences. Amenities at the five-story development will include a library, club room, kitchen, fitness studio, pet spa, swimming pool and an exterior courtyard. Greystar recently acquired a 2.2-acre development site within Annapolis Town Center for the project. Construction is currently underway, and leasing is scheduled to begin in spring 2026. Annapolis Town Center features more than 50 retail stores and restaurants. The new community’s location will provide access to more than 557,000 square feet of retail, as well as connectivity to Washington, D.C., downtown Baltimore and Bethesda, Md.
MARANA, ARIZ. — Stellar Senior Living has acquired La Sonora at Dove Mountain, a seniors housing community located in Marana, roughly 20 miles northwest of Tucson. Totaling 152 units, the property features independent living, assisted living and memory care residences. The seller and sales price were not disclosed. Stellar Senior Living, which was founded in 2011, is headquartered in Salt Lake City.
BEVERLY, MASS. — A partnership between two nonprofit owner-operators, Beacon Communities ad Harborlight Homes, has completed a multifamily adaptive reuse project in Beverly, a northeastern suburb of Boston. Beverly Village for Living & The Arts is a redevelopment of the former Briscoe School, which was originally built in 1923 and closed in 2018, into an affordable seniors housing complex. Of the complex’s 91 units, 85 are subject to income restrictions, while the other six units will be rented as live-work studios at market rates. The conversion involved preserving historic elements of the building, such as the windows and façade, while also installing sustainable utility systems.
EAH Housing Opens 140-Unit Aloha lā Halewilikō Affordable Seniors Housing Property in Hawaii
by Amy Works
‘AIEA, HAWAII — EAH Housing has started leasing at Aloha lā Halewilikō, a $62 million affordable rental community for older adults in ‘Aiea. Located at the former site of the ‘Aiea Sugar Mill at 99-385 Pōhai Place, Aloha lā Halewilikō offers 83 studio apartments, 56 one-bedroom apartments and a manager’s unit. The rents are set at affordable rates for households earning 30 percent, 50 percent and 60 percent of the area median income. The community features a multipurpose room, walking paths, fitness facilities, community gardens and digital literacy programs. Lanakila Pacific, a local nonprofit partner, will provide onsite services, including Meals on Wheels and wellness programming to support aging in place.
NEW YORK CITY — MonticelloAM has provided $218 million in financing for a skilled nursing portfolio in Kentucky. Comprising 18 facilities, the portfolio totals 1,500 beds across the commonwealth. In addition to a $179.3 million senior bridge loan and a $29 million mezzanine loan, which the undisclosed borrower plans to use to restructure and upsize existing debt, the financing includes a $10 million working capital line of credit that will be used to cover the day-to-day operational needs of the facilities. New York City-based MonticelloAM originally financed the portfolio in May 2024.
Meta Housing Corp. Sells Coventry Court Seniors Housing Community in Tustin, California for $83M
by Amy Works
TUSTIN, CALIF. — Los Angeles-based Meta Housing Corp. has completed the sale of Coventry Court, a mixed-income seniors housing property in Tustin, to Jonathan Rose Cos. for $83 million. Completed in 2012, Coventry Court offers 240 market-rate and income-restricted apartments for residents age 55 or older. Of the 240 units, 153 are designated as affordable at 50, 60 and 110 percent of area median income (AMI), qualifying the property for a 40 percent tax abatement. The remaining 87 units are rented at market rates. Jim Fisher, Vince Norris, Mike Smith and Tommy Yates of Northmarq represented the seller in the deal.