BEVERLY, Mass. — Beacon Communities and Harborlight Homes have received financing to redevelop the former Briscoe School in Beverly into a mixed-use community centered around affordable housing for seniors. Located near the Atlantic Ocean approximately 15 miles north of Boston,…
CHICAGO and BOLINGBROOK, Ill. — Standard Communities has acquired the 145-unit Commonwealth Apartments in Chicago and 321-unit Greenleaf Apartments in Bolingbrook, both of which are affordable seniors housing communities. Standard plans to make $46 million in renovations. Standard led a…
MEDFORD, MASS. — MassHousing has provided $13.5 million in financing for Riverside Towers, a 199-unit affordable seniors housing complex in Medford, located north of Boston. Built in 1979, Riverside Towers consists of 161 one-bedroom and 38 two-bedroom units in a…
NEW RICHMOND, Wis. — Presbyterian Homes & Services (PHS) has received $2.5 million in private grant funds for the expansion of The Deerfield, a senior living community in New Richmond, approximately 40 miles east of downtown Minneapolis. One hundred percent…
MEMPHIS, Tenn. — Blueprint Healthcare Real Estate Advisors has brokered the sale of a seniors housing community in Memphis. Built in the late 1960s, the community rises 11 stories and features 110 independent living units and 55 assisted living units.…
CHARLESTOWN, Mass. — MassHousing has provided $31 million in financing for City Square Elderly Housing, a 120-unit affordable seniors housing complex in Charlestown, a northern suburb of Boston. The complex was originally constructed in 1900 and renovated in 1985. Units…
In an uncertain time for the seniors housing industry, the “What Will 2023 Hold for Seniors Housing Investment & Acquisition Activity?” webinar focused on what’s influencing the landscape now and what is likely to affect it in the near future.…
ST. PAUL, Minn. — CommonBond Communities has started construction of The Lumin, which will provide 60 units of housing for seniors in the Highland Bridge development in Saint Paul. Units will be restricted to people age 55 and older who…
TAVARES, Fla. — Greystone has provided an $11.9 million Fannie Mae Multifamily Affordable Housing (MAH) loan for the acquisition of a senior living community in Tavares, a northwestern suburb of Orlando. Carter King, managing director in Greystone’s Atlanta office, originated…
WYANDANCH, N.Y. — Selfhelp has opened 11 Park Drive, an affordable housing community for seniors in the Long Island hamlet of Wyandanch. The developer’s SHASAM service model will provide onsite social services. The property is located adjacent to a Long…
MURRAY, Utah — TWG has unveiled plans for Residences at Fireclay, a $13 million affordable seniors housing community in Murray. Construction is slated to begin this year, with the first units available in 2025. Located at 152 W. 4250 South,…
TEMPLE, Texas — Hunt Capital Partners has provided $13.6 million in Low-Income Housing Tax Credit (LIHTC) equity for Mariposa Scott & White, a 140-unit affordable seniors housing project in the Central Texas city of Temple. The development will consist of…
EAST CHICAGO, Ind. — Merchants Capital has provided a $15.5 million HUD 221(d)(4) loan for the construction of Lakeshore Manor in East Chicago. Designed to replace the former John B. Nicosia senior building, the development will consist of two four-story…
RHODE ISLAND — Nixon Peabody LLP has advised Providence Realty Investment (PRI) in seven separate transactions that refinance debt on nine affordable housing properties across Rhode Island. The portfolio totals 708 units of mostly age-restricted affordable housing. All seven of…
SWEETWATER, Fla. — CREI has received approval from the Sweetwater City Commission to construct Li’l Abner III, an affordable seniors housing expansion in Sweetwater, a suburb west of Miami. The project will rise next to its sister buildings, Li’l Abner…
RICHMOND, Va. — Cushman & Wakefield has brokered the sale of Guardian Place, a 236-unit affordable seniors housing portfolio spanning two buildings located at 1620 N. Hamilton St. in Richmond. Fairfield Residential purchased the properties, known as Guardian Place I…
GARLAND, Texas — Locally based developer Palladium USA has completed a 122-unit mixed-income seniors housing project in Garland, a northeastern suburb of Dallas. Designed by HEDK Architects, the development consists of 92 units reserved for renters age 62 and above…
WASHINGTON, D.C. — Standard Communities, a developer of affordable housing for seniors and families, has named Feras Qumseya as chief development officer. This is a new position created to lead the new-construction division, a national platform focused on leveraging 4…
TEANECK, N.J. — The Alpert Group, along with its nonprofit partner Geriatric Services Inc., has broken ground on a 40-unit affordable housing community for seniors in Teaneck, just across the Hudson River from Manhattan and The Bronx. The community will…
LOS ANGELES — Standard Communities, a Los Angeles-based investor and developer of affordable multifamily housing including seniors housing, has established three new, diversified business lines. The three dedicated business lines — acquisition/redevelopment, new construction and essential housing — aim to…
IRVINE, Calif. —Asland Capital Partners, Fairstead, iimpact Capital, Nuveen Real Estate and Innovative Housing Opportunities (IHO) have acquired Woodbridge Manor, a 165-unit affordable housing community for seniors in Irvine. Woodbridge Manor apartments are available to seniors earning up to 60…
MIAMI — Miami-Dade County and the county’s Department of Public Housing and Community Development (PHCD), together with Related Group, have completed renovations at Robert King High Community Center in Miami’s Little Havana neighborhood. First built in 1964 in response to…
MIAMI — Housing Trust Group (HTG) and AM Affordable Housing have broken ground on Tucker Tower, a $44 million affordable housing community in Miami for seniors age 62 and older. Located in the city’s Perrine neighborhood, the eight-story property’s apartments…
The Oct. 11 webinar “No Crystal Ball… But Let’s Talk About the Outlook for Seniors Housing Investment and Finance,” featured industry experts discussing market confusion and uncertainty — what is happening now and what may happen in the fourth quarter of 2022 and into 2023.…
CINCINNATI — Northsiders Engaged in Sustainable Transformation (NEST) and Pennrose have opened John Arthur Flats, Cincinnati’s first LGBTQ-friendly affordable seniors housing community. Located in the Northside neighborhood, the development adds 57 affordable units for residents age 55 or older. The…
PACIFIC, Wash. — Preservation Equity Fund Advisors (PEF Advisors) has purchased Rainier Vista, an affordable seniors housing property in Pacific. Terms of the transaction were not released. Originally developed in 2003 with low-income housing tax credits, Rainier Vista offers one…
MAYWOOD, Ill. — Skender has completed construction of Maywood Supportive Living, an adaptive reuse seniors housing project in the Chicago suburb of Maywood. The 133,000-square-foot assisted living facility for low-income seniors features 100 units. Developer Celadon Partners hired Skender as…