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Assisted LivingCaliforniaDevelopmentIndependent LivingMemory CareNews

CCI to Develop 236-Unit Senior Living Community in Southern California

by Hayden Spiess

WOODLAND HILLS, Calif. — CCI has announced plans for the development of a 236-unit luxury senior living community in Woodland Hills, roughly 25 miles northwest of Los Angeles.  Upon completion, Livelle Mulholland will feature 200 independent living units, seven villas, 16 assisted living apartments and 13 memory care units. LCS will manage the community.  Amenities at the property will include a wellness center with therapy pools, nature trails and outdoor game courts, underground and attached garage parking, a restaurant, wine bar and rooftop lounge, indoor and outdoor theaters and classrooms.  Construction …

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Affordable HousingDevelopmentFinanceGeorgiaNews

Columbia Residential Secures Financing for $28.4M Renovation Project at Affordable Community in Atlanta

by Hayden Spiess

ATLANTA — Columbia Residential has secured financing for a $28.4 million renovation and preservation project at Columbia Senior at MLK Village, an affordable seniors housing community located in Atlanta.  Originally developed in 2007 in partnership with Ebenezer Building Foundation, Columbia Senior at MLK Village features 121 units for residents age 62 and older. The preservation project will rehabilitate the community and upgrade amenities at the property.  Atlanta Housing has committed 121 HomeFlex vouchers for 20 years to the community. Funding for the renovation includes tax-exempt bond financing issued by Invest Atlanta, …

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Affordable HousingDevelopmentFinanceMarylandNews

Walker & Dunlop Arranges $40M Financing for New Affordable Seniors Housing Development in Metro D.C. 

by Hayden Spiess

HYATTSVILLE, Md. — Walker & Dunlop has arranged $40.5 million in debt and equity for a new affordable seniors housing development in Hyattsville, roughly seven miles east of downtown Washington, D.C. Community Housing Initiative, which is developing the project in partnership with First Baptist Church of Highland Park, is the borrower.  Upon completion, The Highlands will total 137 units for residents age 62 and older. Five of the residences will be reserved for seniors earning at or below 50 percent of the area median income (AMI), with the remaining 132 apartments …

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HarborChase-Beachwalk_St.Johns-Fla
Assisted LivingDevelopmentFinanceFloridaIndependent LivingMemory CareNews

Protea Capital Partners Receives $34.5M Construction Financing for Seniors Housing Community in Florida

by Hayden Spiess

ST. JOHN’S, Fla. — Protea Capital Partners has received a $34.5 million loan for the construction of a new seniors housing community in St. John’s. Olga Walsh, Aaron Rosenzweig and Dan Baker of JLL Capital Markets arranged the five-year financing on behalf of Protea.  Situated within the Beachwalk master-planned community, HarborChase of Beachwalk will feature 172 units, with 82 independent living, 66 assisted living and 24 memory care residences across multiple buildings. Amenities at the property will include a bar, bistro, beauty salon, arts and crafts room, theater, billiards room, fitness …

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Affordable HousingDevelopmentIowaNews

Woda Cooper Cos., Parallel Housing Break Ground on 52-Unit Affordable Housing Development in Iowa

by Hayden Spiess

DAVENPORT, Iowa — Woda Cooper Cos. Inc. and nonprofit Parallel Housing Inc. have broken ground on a new 52-unit affordable housing development located in Davenport.  Units at the community, dubbed Timber Ridge, will be reserved for seniors age 62 and older earning at or below 40 and 60 percent of the area median income. Monthly rental rates for the one- and two-bedroom apartments are expected to range from $565 to $975.  Financing for the project includes a HOME loan from the City of Davenport and the allocation of nine percent housing …

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ArizonaCCRCDevelopmentNews

LCS Development Underway on Third Phase of Renovation at 50-Acre CCRC in Tempe, Arizona

by Hayden Spiess

TEMPE, Ariz. — LCS Development is underway on the third phase of a master planned renovation at Friendship Village Tempe, a 50-acre continuing care retirement community located in Tempe.  Construction has begun on the phase, which will include the removal of an existing structure and the addition of a new, five-story building. Upon completion, which is planned for the fourth quarter of 2027, the building will total 175,900 square feet with 69 independent living apartments, two guest suites and below-grade parking. Units in the building will range in size from 909 …

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Affordable HousingDevelopmentFloridaNews

McDowell Housing Partners Begins Development of $64.7M Affordable Seniors Housing Project in Florida

by Hayden Spiess

PEMBROKE PARK, Fla. — McDowell Housing Partners has begun construction of Ekos at Pembroke Park, a new affordable seniors housing development located in Pembroke Park.  Upon completion, the $64.7 million project will total 150 units reserved for seniors earning up to 80 percent of the area median income. This marks the 16th affordable housing project in the state of Florida for McDowell.  Amenities at the community will include a clubroom, fitness center, package lockers, bike storage and six electric vehicle charging stations. Nonprofit organization Area Agency on Aging of Broward County …

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Wellspring-Apartments
Affordable HousingDevelopmentFloridaNews

ANF Completes 99-Unit Affordable Seniors Housing Community Near Miami

by Hayden Spiess

OPA-LOCKA, Fla.  — Construction and development firm ANF has completed the construction of Wellspring Apartments, a new affordable seniors housing community located in Opa-locka, roughly 15 miles northwest of Miami. The Integral Group was the developer.  Totaling 99 units, Wellspring Apartments features studio, one- and two-bedroom apartments. Residences are reserved for seniors earning at or below 60 and 50 percent of the area median income (AMI), with 67 units reserved for residents earning at or below 50 percent of the AMI and 32 units reserved for residents earning at or below …

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Affordable HousingDevelopmentHawaiiNews

EAH Housing Completes $58M Affordable Seniors Housing Development in Hawaii

by Hayden Spiess

HILO, Hawaii — EAH Housing has opened Hale Nā Koa ‘O Hanakahi, a newly developed affordable seniors housing development in Hilo.  Residences are reserved for seniors age 62 and older earning at or below 80 percent of the area median income, with preference given to veterans and surviving spouses. This marks the first affordable senior living development for veterans in Hawaii.  EAH Housing developed the $58 million project in partnership with Hawaii Island Veterans Memorial Inc.   The property totals 91 one-bedroom apartments across three two-story buildings, with an additional unit for …

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DevelopmentFinanceFloridaNews

CFG Provides $179.8M Construction Loan to Erickson Senior Living

by Hayden Spiess

SARASOTA COUNTY, Fla. — Capital Funding Group has provided a $179.8 million construction loan to Erickson Senior Living. Erickson will use the financing for the first phase of development of Emerson Lakes, a continuing care retirement community (CCRC) currently underway in Sarasota County.  Situated within the Lakewood Ranch community, the first phase of Emerson Lakes will comprise four buildings — three residential buildings and one community building. Together, the three residential buildings will total 319 independent living units. Upon completion, Emerson Lakes will span 87 acres with 1,015 independent living residences …

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