Development

All-Seasons-Delray_Delray-Beach-Fla
Assisted LivingDevelopmentFloridaIndependent LivingNews

ANF Tops Out Luxury Community in South Florida

by Hayden Spiess

DELRAY BEACH, Fla. — Construction and development firm ANF has completed the topping out of All Seasons Delray, a luxury senior living community currently underway in Delray Beach.  Beztak is the developer.  Upon completion, the property will feature 153 units, with 92 independent living apartments and 61 assisted living residences. Amenities at the community will include a swimming pool, landscaped courtyard, pub, theater, library, game room, fitness center, pottery and arts studios, multipurpose activity spaces and an onsite medical center.  Completion of All Seasons Delray is scheduled for the first quarter …

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DevelopmentFinanceNew JerseyNews

Joint Venture Receives $84.7M Bond Financing for Development West of New York City

by Hayden Spiess

PEAPACK-GLADSTONE, N.J. — Peapack Partners LLC — a joint venture between Distinctive Living Development, Melillo Equities and Pointsfive — has received $84.7 million in bond financing for the development of a seniors housing community in the New Jersey borough of Peapack-Gladstone, approximately 50 miles west of New York City.  Ziegler arranged the financing on behalf of the joint venture.  The project is an adaptive reuse of the former Pfizer Pharmaceuticals corporate headquarters. The financing will support the development of 66 assisted living units and 30 memory care units. Dubbed CopperWood Senior …

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SDSU-Mission-Valley_San-Diego
CaliforniaDevelopmentNews

PMB, Pillar Properties to Develop 295,000 SF Community at San Diego State University

by Hayden Spiess

SAN DIEGO — PMB and Pillar Properties will develop a new senior living community at San Diego State University.  Dubbed SDSU Mission Valley, the project will total 295,000 square feet across seven stories and will feature 224 independent and assisted living units, as well as 26 memory care residences. Amenities at the property will include a restaurant and bistro, community room, fitness center, rooftop deck, swimming pool and outdoor courtyard. Urbal Architecture is serving as the architect. Construction is scheduled to begin at the end of 2027, with completion expected in …

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Park-Pointe-Expansion_Rock-Hill-S.C
CCRCDevelopmentNewsSouth Carolina

Acts Retirement-Life Underway on 109-Acre Expansion at South Carolina Community

by Hayden Spiess

ROCK HILL, S.C. — Nonprofit senior living organization Acts Retirement-Life Communities is currently underway on a 109-acre expansion project at Park Pointe Village, a continuing care retirement community located in Rock Hill.  Spiezle Architectural Group led the master planning and design process for the expansion.  Upon completion, the expansion will add 130 new independent living residences, as well as 20 assisted living units, a memory care neighborhood and an 18,000-square-foot clubhouse. New amenities will include walking trails, pickleball courts, new restaurants and gathering spaces. A construction timeline was not disclosed.  “This …

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DevelopmentIndianaNews

Varcity to Develop Retirement Community at Purdue University 

by Hayden Spiess

WEST LAFAYETTE, Ind. — Varcity has announced plans for the development of a new university retirement community (URC) at Purdue University in West Lafayette.  Upon completion, Varcity at Purdue will feature 239 rental residences situated on a 13.5-acre property. Carter will co-develop the project. Developed in partnership with the university and the Purdue for Life Foundation, the community will open in summer 2028. Western States Lodging will manage the community once open.  Reach Architects and Gensler designed the property.  Founded in 2021, Varcity is a senior living company focused exclusively on …

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DelawareDevelopmentNews

REDICO, Ciel Form Joint Venture to Develop Community in Coastal Delaware

by Hayden Spiess

REHOBOTH BEACH, Del. — REDICO and Ciel Senior Living have formed a joint venture to develop a new senior living community in Rehoboth Beach.  REDICO will lead the development and investment strategy for the project, and Ciel will serve as the operating partner when the community opens.  “Our involvement in this project and our ability to attract the financing necessary to make it possible reflects renewed investor interest in this industry,” says Dale Watchowski, CEO of REDICO and American House Senior Living. “This project also reflects REDICO’s broader senior living development …

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Fairview_Groton-Conn
CCRCConnecticutDevelopmentFinanceNews

Ziegler Underwrites $304.2M Bond Financing for Campus Expansion in Connecticut

by Hayden Spiess

GROTON, Conn. — Specialty investment bank Ziegler has closed a $304.2 million bond financing to fund a senior living campus expansion in Groton in southeastern Connecticut. Ziegler served as the underwriter for the financing.  Non-profit senior living organization Fairview is the borrower. Fairview owns and operates a continuing care retirement community situated on 70 acres and will use the proceeds for an expansion project, dubbed Vista Point at Fairview.  Upon completion, the expansion will add 193 independent living units, 44 assisted living units and 28 memory care units. The development will …

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Viva-L.A.-Warner-Center_Los-Angeles
Affordable HousingCaliforniaDevelopmentNews

Wellpointe to Develop $2B Affordable Seniors Housing Campus in Los Angeles

by Hayden Spiess

LOS ANGELES — Wellpointe has announced plans for the development of a new affordable seniors housing campus within the Warner Center master-planned district in Los Angeles.  Wellpointe estimates a total investment of $2 billion in the project, which will be developed in four phases. A property-holding affiliate of Wellpointe acquired the 4.7-acre development site late last year from Parkview Financial.  Upon completion, Viva L.A. Warner Center will comprise four high-rise towers ranging from 34 to 42 stories. The 2.2 million-square-foot development will total 3,192 units, as well as 61,450 square feet …

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Affordable HousingDevelopmentMarylandNews

Enterprise Community Development to Redevelop Springvale Terrace in Maryland

by Hayden Spiess

SILVER SPRING, Md. — Enterprise Community Development has announced plans to redevelop Springvale Terrace, a community in Silver Spring, in partnership with Seabury Resources for Aging.  Originally built in the 1960s, the property features 146 units. The community was one of the first to be developed under the U.S. Department of Housing and Urban Development’s (HUD’s) Section 202 program in the Washington, D.C. region.  Redevelopment plans include the demolition of the existing structure and the construction of a new 236-unit property, which will be branded as The Springvale. Residences will be …

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AcquisitionsAssisted LivingDevelopmentMemory CareNew YorkNews

Sunrise Acquires Development Site on Long Island for $7.5M

by Hayden Spiess

OCEANSIDE, N.Y. — Sunrise Senior Living has acquired a development site situated on Long Island in Oceanside for $7.5 million.  Kelly Koukou of Lee & Associates represented Sunrise in the acquisition. Marlon Matza of Strategic Realty Advisors represented the sellers, Grossman Nurseries and Breslin Development. The parties originally signed a purchase contract in 2017, but entitlement complications delayed the closing of the acquisition.  Sunrise plans to develop a 77,400-square-foot assisted living and memory care community on the property. Upon completion, the community will feature 84 units. A construction timeline was not …

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