SAN DIEGO — R.D. Olson, an Irvine, California-based general contractor, has completed the construction of Kettner Crossing, a $30 million affordable housing community situated in San Diego’s Little Italy neighborhood. Bridge Housing Corp. was the developer. Totaling 64 units, the residences are reserved for seniors age 62 and older earning no more than 30 to 60 percent of area median income. The building also features 2,200 square feet of commercial office space available for lease. Amenities at the community include a rooftop overlooking North San Diego Bay, an open-air turf …
Affordable Housing
PHOENIX — Pennrose is currently underway on the second phase of Garfield Terrace, a $57 million affordable seniors housing development in downtown Phoenix. Pennrose recently opened Phase I of the development and commenced construction on Phase II. Project partners include Butler Housing Co., CBC Financial Corp., the City of Phoenix and the Arizona Department of Housing (ADOH). Garfield Terrace I totals 60 studio and one-bedroom apartments for residents age 55 and older. Twelve units are reserved for seniors earning at or below 30 percent of the area median income (AMI), with …
LOS ANGELES — A partnership between John Stanley Inc. and Concerned Citizens Community Involvement known as Southside LA Housing Partners has opened a new affordable seniors housing development in South Los Angeles. John Stanley Inc. and Concerned Citizens Community Involvement co-developed the community, Serenity Apartments, which totals 50 units reserved for residents age 62 and older with incomes at or below 30 to 60 percent of the area median income. Nine units are reserved for individuals who require mobility accommodations, with five designed for residents with hearing and vision disabilities and …
NEW YORK CITY — A joint venture partnership between Foxy Development and Selfhelp Realty Group has begun construction on a new intergenerational affordable housing development located in Queens in New York City. Dubbed The Perennial, the property will comprise145 units and will also house the Forest Hills Jewish Center. Upon completion, which is scheduled for the end of 2027, the 156,133-square-foot development will feature 124 units of seniors housing, including 44 units for formerly unhoused seniors, as well as 20 family units. All residences will be reserved for households earning at …
ATLANTA — Columbia Residential, in partnership with Atlanta Housing and other public and private stakeholders, has completed a $35 million redevelopment at Legacy at East Lake in Atlanta and reopened the community. Originally built in the 1970s, the property features 149 studio and one-bedroom apartments across eight stories. Units are reserved for residents age 55 and older and households earning at or below 30, 50 and 60 percent of the area median income. Rents are capped at 30 percent of household income through project-based vouchers. Financing for the redevelopment included $12.4 …
Housing Trust Group, HFH Supportive Housing Plan 80-Unit Affordable Seniors Community in Titusville, Florida
TITUSVILLE, Fla. — Housing Trust Group (HTG) has secured financing and began construction on Forest Glen, an. 80-unit, $28 million affordable seniors housing community in Titusville. The project is HTG’s second in Titusville and third development built in partnership with HFH Supportive Housing, a nonprofit dedicated to providing affordable housing and support services in Brevard County. Forest Glen will have 72 one-bedroom units and eight two-bedroom units with rents ranging from $750 to $1,350 per month for income qualifying residents who earn at or below 40 percent and 60 percent …
BROWNSVILLE, Texas — Hunt Capital Partners has transferred its interests in Sunset Haven Apartments, a 100-unit affordable housing community in Brownsville, to the Brownsville Housing Management Corp. (BHMC), an affiliate of the Housing Authority of the City of Brownsville (HACB). Since its development in 2008, Sunset Haven has served seniors earning up to 30 and 60 percent of area median income (AMI). HACB’s goal is to acquire full ownership of the tax credit properties within city limits. Once a compliance period is reached, transference of ownership to a city or …
GAINESVILLE, Fla. — KeyBank Community Development Lending and Investment has provided a $13 million construction loan to National CORE, a nonprofit developer, to finance Hawthorne Heights, an 86-unit affordable seniors housing project in Gainesville. KeyBank Commercial Mortgage Group also arranged a $6.5 million Freddie Mac permanent loan for the project. Hawthorne Heights will serve seniors aged 62 and older with five units specifically set aside for individuals with special needs. The five-story building will be constructed on a 3-acre site, and, in addition to the special-needs units, will offer three …
GAINESVILLE, Fla. — Nonprofit developer National CORE has received $19.5 million in construction financing to fund the development of Hawthorne Heights, a new affordable seniors housing project in Gainesville. KeyBank Community Development Lending and Investment provided a $13 million loan and secured a $6.5 million Freddie Mac permanent loan on behalf of the borrower. National CORE received additional funding from Red Stone, which provided low-income housing tax credit equity and bonds from the Florida Housing Finance Corp., for the project. The project also qualifies for real estate tax abatement. Upon completion, …
How Tech-Forward Entertainment Drives Resident Satisfaction, Revenue
The next generation of residents entering senior living communities is more digitally native than ever before. Many have embraced mobile devices, smart technology and digital streaming, and they expect the same convenience and technology in their seniors housing environments. According to a recent AARP survey, nearly two-thirds of respondents say technology enriches their lives by making daily life and aging easier. They’re increasingly using digital services to manage their finances, social lives and health and wellness. AARP research also found that among adults aged 50 and over, 91 percent own …