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Active Adult

Active AdultDevelopmentFloridaNews

Origin Construction to Build $75M America Walks Community in Port St. Lucie, Florida

by Jeff Shaw

PORT ST. LUCIE, Fla. — Miami-based Origin Construction has unveiled plans for America Walks, an active adult rental community in Port St. Lucie spanning 60 acres and more than 400 residences. The project is expected to cost $75 million to develop and is slated for completion in the third quarter of 2023. Ohio-based America Walks is the developer for the gated community. America Walks will feature both a residential and recreational component, including two four-story apartment buildings with 115 units, as well as 300 villas in 60 buildings surrounding four lakes …

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Active AdultDevelopmentNewsOhio

Homestead Senior Living Breaks Ground on 131-Unit Active Adult Community in Blacklick, Ohio

by Jeff Shaw

BLACKLICK, Ohio — Homestead Senior Living has broken ground on Homestead Village, a 131-unit active adult community in Blacklick, approximately 10 miles east of Columbus. The property will span 122,275 square feet and is scheduled to open in October 2022. Development costs were estimated at $14.5 million, with Homestead Construction as the contractor. Homestead’s “active senior” designation is marketed toward people 55 and older, are just retired and do not require any form of assisted living. The average resident age is between 60 and 75.

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Active AdultDevelopmentFeaturesNews

Design of Active Adult Properties Must Appeal to Multiple Generations, Say InterFace Panelists

by Jeff Shaw

As a concept, the term “active adult” supports the notion that age is just a number. As an evolving subcategory of seniors housing, active adult is a property type that means different things to different people. For that reason, designers and builders of this asset class face the unique challenge of visualizing and delivering communities that appeal to a broad range of renter profiles. Effective, consistent branding is one of the biggest challenges within the active adult sector, which is very much in its infancy relative to other commercial property …

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Active AdultDevelopmentNevadaNews

Sparrow Partners to Build Two Active Adult Communities in Henderson, Nevada

by Jeff Shaw

HENDERSON, Nev. — Sparrow Partners has unveiled plans for its first two active adult communities in the Las Vegas area: the 173-unit Mera Rhodes Ranch and 189-unit Mera Henderson. Both located in the first-ring suburb of Henderson, the communities are under construction and scheduled to open in mid-2022. “Las Vegas has one of the fastest growing populations of older adults in the nation, including many healthy seniors who no longer want to own a high-maintenance home but don’t yet need expensive support services,” says Jeff Patterson, co-founder of Sparrow Partners. …

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Active AdultDevelopmentFloridaNews

BCC Construction to Build $30M AVIVA at Port St. Lucie Project in Florida

by Jeff Shaw

PORT ST. LUCIE, Fla. — BCC Construction, a Prospect Real Estate Development Group company, has been awarded the contract to build AVIVA at Port St. Lucie, a $30 million senior living center in the South Florida city of Port St. Lucie. Miami-based developer Lloyd Jones is leading the project. The age-restricted residential complex will feature 159 units. Construction is expected to begin in early August 2021 and for completion in early 2023.

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Active AdultNews

Despite Brand Ambiguity, Active Adult Properties Gain Favor With Investors, Says InterFace Panel

by Kristin Hiller

While the product’s definition and brand identity can be obscure and subjective and the amount of data available on it is limited, the asset class known as active adult is experiencing healthy growth in development and resident demand. In turn, those positive vital signs are making both institutional and private investors increasingly comfortable with the property type. This is particularly the case among investors with significant allocations of capital to the multifamily sector and who are seeking yield within that highly competitive space. While the available data on the asset …

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Active AdultDevelopmentFloridaIndependent LivingNews

CanAm Capital Provides $10M Construction Loan for South Florida Senior Living Facility

by Kristin Hiller

PORT ST. LUCIE, Fla. — CanAm Capital Partners, an affiliate of New York City-based investment bank CanAm Enterprises, has provided a $10 million mezzanine loan for the construction of a 159-unit active adult and independent living community in South Florida. The property will be situated on a 10-acre site in Port St. Lucie, located on the east coast of the Sunshine State. The borrower, Lloyd Jones LLC, will operate the property under its Aviva brand. An expected completion date was not disclosed.

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Webinar: Invigorating the Seniors Housing Workforce

by Sarah Daniels

  In a July 22 Seniors Housing Business webinar titled “Invigorating the Seniors Housing Workforce: Strategies to Inspire, Engage, and Retain Talent,” panelists discussed challenges in finding and motivating employees in the senior living industry. Seniors housing communities struggled to find staff prior to COVID-19, but a combination of factors is currently exacerbating the difficulties in communities. These components include competing opportunities, government unemployment programs and safety concerns related to the pandemic. Lisa Lacy, Discovery Senior Living, explains “We are competing with organizations that we didn’t typically compete with. It’s not …

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Pipitone M&T seniors housing industry
Active AdultAffordable HousingAssisted LivingContent PartnersFeaturesFinanceIndependent LivingIndustry ContentInvestmentM&T Realty Capital Corporation

In the Seniors Housing Sector, a Sense of Recovery is Growing

by Sarah Daniels

For more than a year, seniors housing operators have battled rising vacancy, pressure on net operating income and uncertainty about the future as potential residents steered clear from property tours and lease commitments. Those difficulties have created a tough financing environment for the segment. But a growing number of seniors housing discussions today are centered on how operators and the industry are recovering, according to Christopher Callaghan, head of healthcare banking at M&T Bank. To what degree a recovery is occurring, however, depends on several variables. “There is still a …

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Active AdultDevelopmentFinanceFloridaIndependent LivingNews

United Group Receives $48M Construction Financing for The Alloro at University Groves in Sarasota, Florida

by Jeff Shaw

SARASOTA, Fla. — The United Group of Companies has received a $48 million construction loan from Trez Capital, with the funds used to build The Alloro at University Groves. Located in the coastal Tampa suburb of Sarasota, the community will feature 183 units of what the developer calls “independent living lite,” a bridge between active adult and independent living. Units are restricted to those age 55 and older. Units will vary in size between 708 and 2,232 square feet. A 15,210-square-foot clubhouse will serve as the center of the community. …

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