MANSFIELD, Texas — Greystar has started pre-leasing at Album Mansfield, an active adult community in the Dallas suburb of Mansfield, with plans to start move-ins this June. Apartments come in one- and two-bedroom layouts. The number of units was not disclosed. Album Mansfield is part of a larger project that also includes conventional multifamily apartments, retail and for-sale single-family homes in a neighborhood called Watson Branch.
PHILADELPHIA — Operators in the seniors housing industry have long been awaiting the incoming demographic wave of baby boomers reaching retirement age. Every day in the U.S., 10,000 people turn 65, and the number of older adults will more than double over the next several decades to top 88 million people and represent over 20 percent of the population by 2050. The oldest boomers are now 76. But this wave of customers will have very different desires than existing seniors housing residents, according to Tod Petty, chief operations officer at …
COLUMBUS, Ohio — Treplus Communities, a Columbus-based developer of active adult communities, has hired James Lipnos as senior vice president of development and construction. Lipnos has nearly three decades of executive leadership expertise in development and construction that includes specializations in land acquisition and zoning. As an active member and immediate past president of the Building Industry Association (BIA) of Central Ohio, he is a champion for driving economic growth and forging partnerships with government and municipalities. Prior to joining Treplus Communities, Jim served as the president of Homewood Corp. …
ATLANTA — Greystar has opened Overture Powers Ferry, an active adult community in Atlanta. The property is located near The Battery, a popular development surrounding the new Atlanta Braves baseball stadium. The number of units was not disclosed. “Overture Powers Ferry provides the perfect location for someone seeking to become a member of an active community located in the heart of Cumberland near shopping, dining and entertainment with easy access to the main freeways,” says Malcolm Bemba-Kaye, regional property manager said. Floorplans come in one- and two-bedroom options.
RICHMOND, Va. — Resort Lifestyle Communities (RLC) has opened Tuckahoe Pines Retirement Community, a seniors housing property in Richmond. Development costs were estimated at $30 million for the 180,000-square-foot community. Floor plans include studio, one-, two- and three-bedroom options. The type of care was not disclosed. This is the first RLC location in Virginia.
HENDERSONVILLE, Tenn. — Greystar has been awarded management of Album Indian Lake in the Nashville suburb of Hendersonville. Avenida is currently developing the property. “Album Indian Lake is an active adult community, providing an active lifestyle for likeminded adults in a similar life stage; this doesn’t exist in Hendersonville currently,” says Ally Hackney, senior regional property manager. “There is a need for this type of housing as we see more and more active adults looking to right-size their living environment, live a maintenance-free lifestyle and meet new friends within a …
ROCKLEDGE, Fla. — Resort Lifestyle Communities (RLC) has opened Shell Harbor Retirement Community, a 180,000-square-foot seniors housing property in Rockledge, located along the Atlantic Coast east of Orlando. Development costs were estimated at $30 million. The number of units was not disclosed, but they will be available in studio, one-, two- and three-bedroom floor plans. Shell Harbor Retirement Community is the fifth RLC location in Florida.
CARROLLTON, Texas — An affiliate of Livingston Street Capital, a private equity firm, has acquired Atlas Point at Prestonwood, a 183-unit active adult community in Carrollton, located in the Dallas-Fort Worth Metroplex This asset brings Livingston’s overall investment in the Dallas-Fort Worth active adult market to $150 million within six months, according to Peter Scola, founder, president and co-CEO of the company. “The Dallas Fort-Worth area appeals across demographics, as it offers an abundance of outdoor amenities, retail destinations, metropolitan conveniences and a great climate,” says Scola. “The population for …
MELBOURNE, Fla. — Adëlon Capital has broken ground on its first senior living property, Parasol Melbourne in Melbourne. Cimbra Partners is the principal co-investor on the project. United Plus Property Management will operate the community, which Certified General Contractors will build. The four-story luxury community will feature 159 one- and two-bedroom units ranging from 742 to 1,067 square feet.
PALM BEACH GARDENS, Fla. — United Group of Companies, along with ownership partners Sina Cos. and Mayan Properties, has opened Arcadia Gardens, an active adult community in Palm Beach Gardens. Development costs were estimated at $53 million. Mayan Properties is an affiliate of Miami-based Aztec Group. Arcadia Gardens features 220 one- and two-bedroom apartments, plus a 15,210-square-foot clubhouse, for adults ages 55 and older. Floor plans range in size from 726 to 2,322 square feet with monthly rents beginning at $2,575.
