SAN ANTONIO — Aspen Heights Partners has broken ground on its first active adult community, Dolce Vita at Cibolo Canyon in San Antonio. The property will feature 150 age-restricted apartments and 208 parking spaces in a four-story building. “The Cibolo Canyons area is an ideal locale for a community such as Dolce Vita, which we are developing in response to the specific needs of the area’s population,” says Greg Henry, founder and CEO of Aspen Heights Partners. The neighborhood surrounding Dolce Vita is within a few miles of a wide …
Active Adult
NAPERVILLE, Ill. — McShane Construction Co. has completed construction of Avenida Naperville, an active adult community in Naperville, a western suburb of Chicago. The apartments are reserved for those age 62 and older. The community features 13,000 square feet of amenity space. Designed by Meeks + Partners, the property incorporates a total of 146 apartments across six two- and three-story buildings.
CHARLOTTE, N.C. — Caring.com, a senior living referral and review service has acquired SeniorHousingNet.com, a senior living and active adult lifestyle website that was formerly part of the realtor.com network. In addition to active adult properties, SeniorHousingNet.com includes information and directory listings for senior living, in-home care, adult day care, respite care and skilled nursing. “Acquiring SeniorHousingNet.com enables us to expand digital marketing opportunities for our partner network of senior living communities and in-home care agencies, as well as SeniorHousingNet.com’s current advertisers,” says Caring.com CEO Jim Rosenthal.
InterFace Active Adult Conference to be Rescheduled — New Event Date to be Announced Soon
by Jeff Shaw
DALLAS — Due to the coronavirus outbreak and because Seniors Housing Business and the InterFace Conference Group value the health and safety of our attendees and the industry, the inaugural InterFace Active Adult conference, which had been set for May 12 in Dallas, will be rescheduled. The full day conference, the industry’s first event devoted entirely to the red-hot active adult/55+ market niche, will still take place in Dallas at the Omni Las Colinas, the original location. InterFace is actively working to secure a new date to make sure the event …
Collaborations with builders and designers could help developers achieve profitability in this growing sector. By Drew Blaylock, Director of Preconstruction, ARCO Living Group As developers work to stay in front of the changing seniors housing market, the development of active adult rental communities continues to increase, but not without challenges. For seniors housing developers, there is a high amount of risk associated with creating a new product type that is similar to traditional seniors housing facilities but charges rent rates more in line with a standard multifamily product. There are …
VENICE, Fla. — Pensam has provided $56 million in financing for the Floridian Club of Sarasota, an active adult community in Venice, located on the Gulf Coast approximately 70 miles south of Tampa. The loan replaces the construction financing on the property and provide capital for the lease-up of the newly built, 309-unit property. The floating-rate loan has a term of three years with extension options. The community is made up of for-rent, single-story villas and poolside bungalows. The property comprises one- and two-bedroom units with rents ranging from $1,600 …
Resort Lifestyle Communities Plans $30M Active Adult Community in Columbia, South Carolina
by Jeff Shaw
COLUMBIA, S.C. — Resort Lifestyle Communities (RLC) has unveiled plans for Lakeview Retirement Community, an active adult property in Columbia. The 180,000-square-foot property will offer units ranging from studios to three-bedroom apartments. A groundbreaking ceremony is scheduled for Feb. 11. Development costs are estimated at $30 million. Although services will not be offered directly, residents needing care are free to contract with a home health provider, according to RLC.
Insiders weigh the odds of success for this emerging product type. By Jane Adler Win or lose, investors and developers are placing big bets on the newly emerging product category of active adult rental communities. Aimed at the huge cohort of 74 million aging baby boomers, the projects are amenity-rich but lack many of the services found in traditional senior living communities, such as housekeeping, meals and assistance. The bet is that a certain segment of baby boomers will sell their homes and opt for a worry-free lifestyle that comes …
WATERSOUND, Fla. — Master developer Minto Communities USA, global lifestyle brand Margaritaville Holdings and The St. Joe Company (NYSE: JOE) have started land development activities for Latitude Margaritaville Watersound. The site for the active adult community is located in Florida’s Panhandle region in Bay County near Panama City Beach. An official groundbreaking is planned for spring 2020. The project will total approximately 3,500 for-sale homes with a sales center, model homes and resort-style amenities for those 55 and older. The sales center and models are projected to open early 2021. …
Hudson Capital Properties Plans 194-Unit Active Adult Community in Myrtle Beach, South Carolina
by Jeff Shaw
MYRTLE BEACH, S.C. — Hudson Capital Properties, a multifamily real estate investment and development firm focused on value-added acquisitions in the Southeast, has unveiled plans for The Retreat at Coastal Grand in Myrtle Beach. The high-end community, designed for 55-and-older residents, will feature 194 one-and two-bedroom residences. Construction is currently underway, but a timeline for completion was not released. Hudson is partnering with GHK Cape Fear Development and C&S Commercial Properties on the project. “With the combination of low taxes, reduced cost of living and warm weather, Myrtle Beach is …