SARATOGA, Calif. — Specialty investment bank Ziegler has completed the closing of Odd Fellows Home of California’s $101.7 million Series 2026AB bonds through the California Statewide Communities Development Authority. The borrower is a nonprofit public benefit corporation that owns and operates two senior living communities, located in Napa and Saratoga. The borrower’s original senior living community, situated on a 37-acre site in Saratoga, has been in operation since 1912. The property comprises 141 independent living units, 85 assisted living apartments, a 94-bed skilled nursing facility and 15 memory care beds. Proceeds …
LAS VEGAS — Kisco Senior Living has announced plans to develop a new community in Summerlin, a master-planned community located in Las Vegas. Upon completion, the property will feature independent living, assisted living and memory care units. “Summerlin is one of the most compelling senior living markets in the country, and frankly, one of the most underserved when it comes to truly elevated options,” said Andy Kohlberg, president and CEO of Kisco Senior Living, in a statement. “We’re building something that reflects how today’s older adults want to live: beautifully designed …
MUKWONAGO, Wis. — Azura Living has completed the development of a new assisted living and memory care community in Mukwonago, roughly 30 miles southwest of Milwaukee. The property, Azura Mukwonago, totals 72 units. McShane Construction Co. acted as the general contractor on behalf of the developer. EUA designed the community, which features two assisted living buildings and one memory care building situated on a 6.4-acre site. Amenities at the property include community rooms, dining rooms, kitchens, sunrooms, a fitness center, spa, salon, community garden, putting green, walking paths and bocce ball …
By Hayden Spiess Just as one swallow does not make a summer, the development projects currently underway do not equate to an overall recovery in activity. Similarly, strong demographic trends don’t ensure favorable market conditions for the construction of new communities. These points have been amply proven by the current dynamic in the seniors housing sector. Baby boomers are aging in robust numbers, and the need for seniors housing units is increasing, but development activity remains depressed. According to sources, a number of headwinds — including stubbornly elevated interest rates, …
AVENTURA, Fla. — Owner and operator Belmont Village Senior Living has opened Belmont Village Aventura, a new luxury community in South Florida. Belmont Village Aventura totals 153 residences across 11 stories, with two floors of penthouse units. Amenities at the property include a chef-led restaurant, full-service bistro and bar, fitness center, screening room, art studio, salon and swimming pool. Belmont Village partnered with Turnberry — a developer, owner and operator of luxury assets across the hospitality, restaurant, residential, retail and mixed-use sectors — on the development. “We chose to partner with …
RIVERVIEW, Fla. — A partnership between Smith & Henzy Affordable Group, Mt. Zion AME Church of Riverview, Adonai’s Second Chances, The Tampa Housing Authority and Hillsborough County has completed the development of a new affordable seniors housing community located in Riverview, a city situated on Tampa Bay. FK Architecture designed the community, which totals 75 units reserved for residents earning at or below 30 to 70 percent of the area median income. Amenities at the property, dubbed Zion Village, include a clubroom, gathering areas, an outdoor pavilion, fitness center, library, movie …
CORCORAN, Minn. — United Properties has broken ground on a new active adult community in Corcoran, roughly 22 miles northwest of downtown Minneapolis. Upon completion, the development, Amira Corcoran, will feature 143 units for residents age 55 and older. Residences will include apartments in one-, two- and three-bedroom floorplans. Planned amenities include a club room, fitness and yoga spaces, an arts-and-crafts studio, golf simulator lounge, secure parking, walking trails, and a swimming pool and hot tub situated on an outdoor amenity patio. Move-ins at the community, which will be operated by …
CARMEL, Ind. — Avenue Development has announced plans for a new active adult project in Carmel, a suburb roughly 20 miles north of Indianapolis. Development costs are expected to total roughly $50 million. Upon completion, the community — Viva Bene Carmel — will total 170 units for residents age 55 and older. The community is being developed through a public-private partnership with the Carmel Redevelopment Commission (CRC) and is supported by the City of Carmel’s tax increment financing (TIF) district. Avenue Construction will serve as the general contractor. Viva Bene Carmel …
CLARKSVILLE, Md. — Erickson Senior Living has broken ground on a new independent living community on 62 acres in Clarksville, roughly 30 miles southwest of downtown Baltimore. Dubbed Oxford Hills, the development is approved for more than 1,000 units upon full build-out. Amenities at the property will include multiple dining venues, under-building parking, an indoor pool, fitness center, outdoor gathering areas, classrooms and social spaces. Erickson plans to open Oxford Hills in late 2028. Future additional phases will include assisted living and continuing care neighborhoods.
BRADENTON, Fla. — Chancey Development has announced plans for a new community located in Bradenton, roughly 13 miles north of Sarasota. The Arbor Co. will operate the community, which is scheduled to open in early 2028. Upon completion, the development — The Arbor at Watercolor Place — will total 196 residences across four stories. In addition to 96 independent living apartments, the community will feature 76 assisted living and 24 memory care units. Residences will range in size from 400 to 1,350 square feet. Amenities at the property will include a …
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