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DevelopmentNewsWashington

Spellman Brady Completes Interior Redesign for Touchmark at Fairway Village in Vancouver, Washington

by Jeff Shaw

VANCOUVER, Wash. — Spellman Brady & Co. (SBC) has completed the comprehensive interior design for the renovation of Touchmark at Fairway Village in Vancouver. In addition to developing the overall interior design concept, Spellman Brady was responsible for managing product selections, specifications, procurement and installation of furniture, window treatments, artwork and accessories. Spellman Brady’s scope of work for Touchmark at Fairway Village consisted of a full interior renovation of 78,580 square feet of public corridors, resident amenity spaces and operational office areas. The full-service community includes 123 independent living, 86 …

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Affordable HousingDevelopmentFinanceIllinoisNews

Merchants Capital Provides Development Financing for Montclare Senior Residences of Calumet Heights in Chicago

by Jeff Shaw

CHICAGO — Merchants Capital has provided funding for the development of Montclare Senior Residences of Calumet Heights, a 134-unit affordable seniors housing project in Chicago. Financing for the project was obtained through the United States Department of Housing and Urban Development (HUD) 221(d)(4) program. The funding was completed in partnership with MR Properties LLC and Patti Ann Charitable Services. Located on a formerly vacant, five-acre lot in the historic Pill Hill neighborhood on Chicago’s South Side, the majority of units are reserved for extremely-low, very-low and low-income seniors earning no …

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ArizonaCCRCDevelopmentNews

McCarthy Completes $252M Mirabella at ASU Continuing Care Retirement Community in Tempe, Arizona

by Jeff Shaw

TEMPE, Ariz. — McCarthy Building Cos., a St. Louis-based construction firm, has completed construction of Mirabella at ASU, a $252 million continuing care retirement community in Tempe. Pacific Retirement Services and University Realty were the developers for the project. Mirabella at ASU is located at the corner of University Drive and Mill Avenue on the campus of Arizona State University (ASU), 4.5 miles from the Phoenix Sky Harbor International Airport. The community features a 20-story, 613,992-square-foot tower with 252 apartment units ranging from 751 square feet to 2,665 square feet. …

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ColoradoDevelopmentNews

Solterra Breaks Ground on $38M Bridgewater Living in Castle Rock, Colorado

by Jeff Shaw

CASTLE ROCK, Colo. — Solterra Cos. has broken ground on Bridgewater Living, a 142-unit seniors housing community in Castle Rock, approximately 30 miles south of Denver. The property is located on a 6.6-acre site. Although the type of care was not disclosed, Solterra describes the development as a “health and wellness campus for those looking to live a longer and healthier life.” Development costs were estimated at $38 million. Funding was in partnership with the Douglas County Housing Authority and Multi-Family Housing Revenue Bonds. The community is scheduled to open …

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Assisted LivingDevelopmentFloridaNews

Watercrest, St. Joe Company Open 107-Unit Community in Santa Rosa Beach, Florida

by Jeff Shaw

SANTA ROSA BEACH, Fla. — Watercrest Senior Living Group and The St. Joe Company have welcomed its first residents to Watercrest Santa Rosa Beach Assisted Living and Memory Care. Located on the Florida Panhandle, the property features 75 assisted living units and 32 memory care units in a 92,000-square-foot building.

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Active AdultDevelopmentNew YorkNews

Chelsea Living Opens Residences at Plainview Active Adult Community in New York

by Jeff Shaw

PLAINVIEW, N.Y. — Chelsea Living has opened The Residences at Plainview, an active adult community in the Long Island hamlet of Plainview. The community features newly renovated studio, one-bedroom and two-bedroom apartments with full kitchens, a custom wellness program and a host of amenities reminiscent of a luxury hotel. Chelsea operates a full-service assisted living and memory care community, Somerset Gardens, in Plainview less than a mile from the new property. The number of units at the property was not disclosed.

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DevelopmentIndependent LivingNewsWashington

Revel Communities Opens 146-Unit Independent Living Property in Issaquah, Washington

by Jeff Shaw

ISSAQUAH, Wash. — Revel Communities, a division of The Wolff Co., has opened Revel Issaquah, a 146-unit independent living community in the Seattle suburb of Issaquah. As Revel’s third community in Washington State, the property is located less than 20 miles outside Seattle and just outside of downtown Issaquah across from Lake Sammamish, providing residents with easy access to art galleries, shopping and entertainment.

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Active AdultDevelopmentFrom The Magazine

Active Adult Faces Major ‘Stress Test’

by Jeff Shaw

Despite increased competition and delays in construction and lease-up due to COVID-19, developers remain bullish on the sector. By Jeff Shaw The relatively new segment of rental active adult housing has many developers interested, but hesitant.  The sector targets baby boomers in early retirement who are often looking to downsize from their homes but are still years away from needing independent living or assisted living services. The concept is to offer relaxing, maintenance-free living to empty nesters who still lead active lives. It differs from independent living in that it …

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DevelopmentFinanceNewsTexas

HJ Sims Arranges $2.8M PACE Financing for Redevelopment Project in Houston

by Jeff Shaw

HOUSTON — HJ Simshas arranged $2.8 million PACE financing, a government program that funds energy efficiency and renewable energy improvements on private property, on behalf of StoneCreek Real Estate Partners. The financing will help fund construction of The StoneCreek of Copperfield, a 104-unit redevelopment of the Copperfield Racquet and Health Club, a longtime landmark of Northwest Houston for more than 30 years. The 104-unit independent living, assisted living and memory care project was announced in January. The operator will be Civitas. While assisting StoneCreek in its search for financing alternatives, …

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DevelopmentNewsTexas

Civitas, Journey Capital Break Ground on Harvest of Aledo in Texas

by Jeff Shaw

ALEDO, Texas — Civitas Senior Living, a senior living management company, and Journey Capital, a senior housing development company, have broken ground on the Harvest of Aledo Senior Living, a luxury independent living, assisted living and memory care community in Aledo, approximately 20 miles west of Fort Worth. The development marks the third collaboration between Civitas and Journey Capital and the second Harvest Senior Living development. The new, 68,000-square-foot community will be situated on 7.5 acres featuring 20 independent living villas as well as 67 assisted living and 24 memory …

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