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Webinar: Resident-Focused Renovation — A Seniors Housing Success Story

by Sarah Daniels

The June 4 webinar Resident-Focused Renovation — A Seniors Housing Success Story explored a case study in renovation and elaborated on what this project reveals about key trends in seniors housing renovations. The discussion also covered best practices for renovating a senior living community with minimal disruption to residents as well as maximum energy and cost savings for owners and operators. Occupied renovation in the senior living space can be challenging, but all three panelists assert that keeping residents in place while upgrading technology can be a viable, cost-efficient option …

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Active AdultFinanceFloridaNews

Aztec Group Arranges $55.6M Financing for Arcadia Gardens Active Adult Community in Palm Beach Gardens, Florida

by Jeff Shaw

PALM BEACH GARDENS, Fla. — Aztec Group has arranged $55.6 million in bridge financing for Arcadia Gardens, an active adult community located in Palm Beach Gardens.  MetLife provided the loan to the borrowers, affiliates of the United Group of Cos. and Sina Cos. United Group also manages the property, which was developed in 2021. Situated on 10.6 acres, the age-restricted apartment community comprises 220 units reserved for residents age 55 and older.

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Active AdultDevelopmentNewsTexas

Grace Management Opens The Lakes at Woodhaven Village Active Adult Community in Conroe, Texas

by Jeff Shaw

CONROE, Texas — Grace Management Inc., a subsidiary of CPF Living Communities, has opened The Lakes at Woodhaven Village, an active adult community in the Houston suburb of Conroe. This is Grace’s first active adult community, as the company traditionally focused on seniors housing. The 130,000-square-foot community is situated on approximately five acres and totals 115 units. Padua Realty Co. is developer on the project, and its affiliated construction company Dorado Builders was the general contractor. Other project partners include Investwell Architects, Lizabeth Jones Interior Design, and Jordan and Skala …

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Active AdultDevelopmentNewsSouth Dakota

GSI Opens 133-Unit The Parkwood Active Adult Community in Sioux Falls, South Dakota

by Jeff Shaw

SIOUX FALL, S.D. — GSI has opened The Parkwood, a 133-unit active adult community in Sioux Falls, near both the Iowa and Minnesota borders. GSI began preleasing units at The Parkwood in 2023. GSI and its stakeholder team serve as The Parkwood’s developer, property manager and co-owners in partnership with financial partners. GSI is a an affiliate of Transforming Age, a national nonprofit organization serving older adults. Omaha-based Ronco Construction was the builder on the project.

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Active AdultFeaturesInvestmentNews

InterFace Panel: Active Adult Investors Love the Sector, Even As it Stays Niche

by Jeff Shaw

DALLAS — While active adult has certainly gained a much higher profile in the last decade, it’s still seen by most as a niche — and perhaps mysterious — segment of commercial real estate.  Many multifamily investors may be scared off by the slow lease-up and smaller potential resident pool, while private-pay seniors housing owners scoff at the comparatively lower rents. As the 55-plus rental model is one of the newest types of real estate, many of active adult’s advocates on the investment side say educating potential buyers is an …

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Active AdultFeaturesNewsOperations

Effective Marketing is Key to Success in Active Adult Operations

by Jeff Shaw

DALLAS — The rental active adult segment of commercial real estate faces an array of unique challenges, largely caused by the greater public not being aware of or understanding the sector. For active adult operators, this means that powerful marketing strategies are the cornerstone of success because there is no organic customer growth. That’s the message of a group of operators who gathered at InterFace Active Adult, held April 18 at The Westin Las Colinas in Dallas. The executives participated in a panel titled “Operating Active Adult: What Works and …

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Active AdultCaliforniaDevelopmentNews

Belmont Village, Greystar Plan Active Adult Community in Rancho Santa Fe, California

by Jeff Shaw

RANCHO SANTA FE, Calif. — Belmont Village Senior Living and Greystar Real Estate Partners have unveiled plans for Belmont Village Rancho Santa Fe, a luxury active adult community in Rancho Santa Fe, approximately 25 miles north of San Diego. Groundbreaking is scheduled to occur before the end of the year. The project will feature over 185 apartments including 15 freestanding cottages. The leaders of both Greystar and Belmont Village, Jerry Brand and Patricia Will, are long-term residents of Rancho Santa Fe. Belmont Village Rancho Santa Fe will be Belmont Village’s …

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Active AdultDevelopmentIndustry Voices

The SHB Interview: Ben Burke, Managing Partner, Headwaters Group

by Jeff Shaw

Seniors housing veteran launches active adult development firm in the Southwest. By Jeff Shaw Ben Burke cut his teeth as an executive at two major seniors housing owner-operators, Spectrum Retirement Communities and Anthology Senior Living, the latter of which is the seniors housing arm of developer CA Ventures. But, as so often happens with individuals who possess an entrepreneurial spirit, he got the itch to run his own company. At the end of 2021, he left Anthology and launched active adult developer Headwaters Group in early 2022. “I felt like …

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Active AdultFeaturesNews

CEO Panel: Active Adult Hits Adolescence as Baby Boomers Move In

by Jeff Shaw

DALLAS — The active adult subsector of seniors housing has officially emerged from its infancy as a commercial real estate market, but the specifics of the product type are still evolving as owners discover more and more about the incoming baby boomer residents. That was the message from CEOs in the sector, who spoke on a CEO panel titled, “Where the Active Adult Space Is Now, and What Comes Next?” at InterFace Active Adult, held April 18 at The Westin Las Colinas in Dallas. Panelists included Ben Burke, managing partner, …

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Active AdultAffordable HousingDevelopmentMinnesotaNews

Lupe Development Completes 200-Unit Wirth on the Woods Mixed-Income Community in Minneapolis

by Jeff Shaw

MINNEAPOLIS — Lupe Development has opened Wirth on the Woods, a 200-unit mixed-income seniors housing community in the Bryn Mawr neighborhood of Minneapolis. The campus includes 100 units of affordable seniors housing in a six-story building (The Theodore) and 100 units of market-rate active adult housing (The Eloise) in a second six-story building. The development includes a new regional storm pond, outdoor classroom and play area for the adjacent Anwatin Middle and Bryn Mawr Elementary schools, as well as shared amenities for the senior campus. The affordable housing at The …

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