COVINGTON, Ga. — McShane Construction Co. has completed work at Covington Crossings, a 198-unit affordable seniors housing community in Covington, approximately 35 miles east of Atlanta. Units are available in one- to three-bedroom options. Additionally, the property contains a surface-level…
DALLAS — Lument has provided $25 million in short-term bonds and a $22.1 million Freddie Mac unfunded forward loan for The Oaks, a mixed-income seniors housing development in Dallas The borrowers are co-developers DHA Housing Solutions for North Texas and…
PITTSBURGH — New Jersey-based Tryko Partners has announced plans for Cedarwood Homes, an age-restricted affordable housing project that will be located at the site of the former Fairywood School in Pittsburgh. The majority (39) of the units will be reserved…
GOSHEN, Ind. — Evergreen Real Estate Group has secured financing and started preliminary site work for Green Oaks of Goshen, a four-story, 120-unit assisted living community for low-income seniors in Goshen. Evergreen Construction Company, a division of Evergreen Real Estate…
BOSTON — Nuestra Comunidad and Preservation of Affordable Housing (POAH) have broken ground on The Kenzi at Bartlett Station, a 50-unit affordable seniors housing community in Boston. The $27 million project is part of a five-phase redevelopment at a vacant…
UNION CITY, N.J. — Berkadia has provided a $26 million permanent loan for the refinancing of an affordable seniors housing property in the Northern New Jersey community of Union City. Bella Vista Senior Apartments consists of 231 Section 8 housing…
CAMARILLO, Calif. — Kennedy Wilson (NYSE: KW) has signed a long-term ground lease for a 32-acre parcel in Camarillo owned by California State University Channel Islands (CSUCI) with plans to build a new residential community. The master-planned project will include…
SPRING VALLEY, N.Y. — Hudson Valley Property Group (HVPG) has acquired two affordable housing communities in the New York City suburb of Spring Valley $25.8 million. The properties include the 114-unit Lakeview Village, which is reserved for seniors, and the…
MONROE, N.C. — KeyBank Community Development Lending and Investment (CDLI) has provided $6.5 million of capital for an affiliate of National Church Residences (NCR). The funds will be used to rehabilitate Cotton Street Commons an affordable senior housing property in…
CORONA, Calif. — Avanath Capital Management, LLC has acquired River Run Senior, a 360-unit affordable seniors housing community in Corona, located in Riverside County. The price and seller were not disclosed. With this acquisition, Avanath now owns 11 properties in…
On Sept. 28, Seniors Housing Business and sponsor V&IG hosted the webinar “Seniors Housing Valuation Outlook — Fundamental Marketplace Drivers in Today’s Environment“. Seniors housing experts spoke candidly about factors like labor shortages and the spread of the Delta variant…
SAN ANTONIO — Cadence McShane Construction Co. has started renovations on the 12-story Granada Homes Senior Living Apartments, an age-restricted, low-income seniors housing property located on the River Walk in San Antonio. The project will involve a complete revitalization of…
DES MOINES, Iowa, and SOUTH BEND, Ind. — AHEPA Affordable Housing Management Co. (AMC) has received two HUD Section 202 Supportive Housing for the Elderly program grant awards totaling $16.7 million to support the development of two new affordable seniors…
On Sept. 22, Seniors Housing Business and sponsor ecobee hosted the webinar “Seniors Housing: Using Technology to Reduce Operational Costs & Enhance the Resident Experience.” With the need to reduce energy use and protect employee time (while limiting unnecessary interactions with…
MIRAMAR, Fla. — Catholic Health Services (CHS) and Atlantic Pacific Communities have broken ground on Casa Sant’Angelo, an affordable seniors housing community in the Miami suburb of Miramar. The mid-rise building offers 113 one- and two-bedroom units. Units are reserved…
BOSTON — Boston Financial Investment Management has closed its Boston Financial Institutional Tax Credits 55 Limited Partnership (ITC 55), a $221 million Low Income Housing Tax Credit (LIHTC) fund. ITC 55 comprises 22 tax credit investments, with plans to finance…
SALEM, Mass. — MassDevelopment has awarded $80,500 from the Brownfields Redevelopment Fund to North Shore Community Development Coalition Inc. (North Shore CDC) to perform environmental site assessments on four parcels in the Point neighborhood in Salem. North Shore CDC will…
ATLANTA — McShane Construction Co. has completed construction of True Light Haven, a 124-unit affordable seniors housing community in Atlanta Westside neighborhood. National Church Residences is the developer on the four-story project, which sits on 4.7 acres. The residence is…
SAN DIEGO — Hunt Capital Partners, in collaboration with CRP Affordable Housing and Community Development LLC and its affiliate Castellan Holdings LLC, has arranged $5.6 million in Low-Income Housing Tax Credit (LIHTC) equity financing for St. Stephen’s Retirement Center. Located…
STOCKBRIDGE, Ga. — A joint venture between TriStar Commercial Real Estate Investments, Zimmerman Properties and nonprofit Star-C has broken ground on a multifamily complex that includes seniors housing in Stockbridge, approximately 18 miles southeast of downtown Atlanta. The $76 million…
BALCH SPRINGS, Texas — JPI announced today it has received construction financing for Parmore Arcadia Trails, a 200-unit, 8.56-acre affordable senior living community in the first-ring Dallas suburb of Balch Springs. The development, created in partnership with the City of…
LA PUENTE, Calif. — RAAM Construction has completed the construction of Arboleda Apartments, an affordable seniors housing development in La Puente, approximately 20 miles east of Los Angeles Development costs for the 74-unit, 71,499-square-foot property are estimated at $29 million.…
INDIANAPOLIS — TWG has opened Line Lofts Apartments, a new affordable senior living development on the eastside of Indianapolis. The property features 63 two-bedroom units. One-fifth of the units are designed and reserved for seniors with visual impairments, as part…
ATLANTIC CITY, N.J. — Standard Communities, through a public-private partnership, has acquired New York Avenue Apartments, a 151-unit affordable seniors housing community in Atlantic City, for $35.9 million. Built in 1980, New York Avenue’s units are supported by a project-based…
LAS VEGAS — Volunteers of America National Services (VOANS) has broken ground on Phase II of Desert Oasis, an affordable seniors housing property in Las Vegas. Phase II will add 43 new units to the existing 75 units in the…
SWEETWATER, Fla. — Centennial Bank Southeast Florida has provided a $33 million loan to CREI Holdings LLC for a development of an affordable seniors housing community in Sweetwater, a suburb of Miami. CREI plans to develop an eight-story, 217,000-squarae-foot, 244-unit…
Newer senior living developments feature environmental sustainability, amenities and services far beyond the residences of the past. By Jeff Shaw The development strategy for affordable seniors housing of the past seemed to have one overarching goal: Don’t spend too much.…