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Affordable HousingDevelopmentNew JerseyNews

Walters Starts Construction of Cornerstone at Greentree Affordable Community in Marlton, New Jersey

by Jeff Shaw

MARLTON, N.J. — Walters has started construction of Cornerstone at Greentree, an affordable seniors housing community in Marlton, approximately 15 miles east of Philadelphia. The 68-unit project, which is being built on 2.3 acres, is slated for completion in the first quarter of 2021. The four-story building consists of one- and two-bedroom residences leased exclusively to residents over age 55 whose incomes are at or below 60 percent of the area median income. Rental rates are based on the renter’s gross annual income, according to the rent/income requirements chart. Designed …

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Assisted LivingDevelopmentNewsVirginia

Watercrest, Harbert Break Ground on 98-Unit Community in Richmond, Virginia

by Jeff Shaw

RICHMOND, Va. — Watercrest Senior Living Group and joint venture partner Harbert Seniors Housing Fund II have broken ground on Watercrest Richmond Assisted Living and Memory Care in Richmond. Trustmark Bank provided financing and EMJ Corp. is providing construction services for the 98-unit luxury senior living community. Completion is scheduled for summer 2022. Watercrest Richmond will feature 76 assisted living and 22 memory care apartments.

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DevelopmentFinanceMinnesotaNews

Axial Receives Financing for Willows Bend Redevelopment Project in Fridley, Minnesota

by Jeff Shaw

FRIDLEY, Minn. — Axial Real Estate Advisors, in partnership with United Properties and Ivy Properties, has received acquisition and development financing for Willows Bend Senior Living, a seniors housing project in Fridley, a northern suburb of Minneapolis. Willows Bend will be a 136-unit, four-story building with underground parking. Ebenezer Management Services, a division of Fairview Health System, will operate the community upon completion. Groundbreaking is scheduled for later this month, with an anticipated opening in summer 2022. The site, measuring 2.67 acres, is the former home of Fridley City Hall, …

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CCRCDevelopmentNewsSouth Carolina

The Woodlands at Furman Completes $4.5M Expansion in Greenville, South Carolina

by Jeff Shaw

GREENVILLE, S.C. — The Woodlands at Furman, a nonprofit continuing care retirement community in Greenville, has completed its 13,000-square-foot expansion. The project added Community Village, which features a multipurpose room and a wellness center that includes cardio equipment, therapy pool, massage room, day spa, gym, locker rooms. Development costs were estimated at $4.5 million. “The Community Village reminds me of a town square – providing a hub for activities ranging from lectures to exercise classes to spa services,” said Mary Lou Merkt, president and CEO at The Woodlands at Furman. …

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Assisted LivingDevelopmentFinanceMassachusettsNews

Cushman & Wakefield Arranges $29.8M Construction Financing for Benchmark Community in Hanover, Massachusetts

by Jeff Shaw

HANOVER, Mass. — Cushman & Wakefield’s Senior Housing Capital Markets team has arranged a $29.8 million loan for the construction of Benchmark of Hanover, approximately 20 miles south of Boston. The borrower is a joint venture between Benchmark Senior Living and Iron Point Partners LLC. The property will feature 97 units of assisted living and memory care. The Cushman & Wakefield team involved in the transaction includes Rick Swartz, Jay Wagner, Sam Dylag, Jack Griffin and Joseph Carbone. “Hanover is a quintessential South Shore Boston suburb with excellent access to …

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DevelopmentMassachusettsMemory CareNews

Nauset, Anthemion Break Ground on 54-Unit Cordwainer Memory Care Community in Norwell, Massachusetts

by Jeff Shaw

NORWELL, Mass. — Nauset Construction and Anthemion Senior Lifestyles LLC have broken ground on The Cordwainer, a memory care community in Norwell, approximately 20 miles south of Boston. The community will feature 54 units in a 50,000-square-foot building. “The Town of Norwell is an ideal location for our expansion into the South Shore area,” says Tamilyn Liesenfeld, president and CEO at Anthemion Senior Lifestyles. “There is a strong demand for lifestyle communities for adults with Alzheimer’s and dementia who need personal supportive services that provide safe, independent living.” Designed by …

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Affordable HousingDevelopmentNewsTexas

Gardner Capital Breaks Ground on Gala at Central Park Affordable community in Hurst, Texas

by Jeff Shaw

HURST, Texas — Gardner Capital has broken ground on Gala at Central Park, an affordable seniors housing community in the Fort Worth suburb of Hurst. The 94-unit senior complex, with a mix of one- and two-bedroom apartments, will include a three-story residential building and a two-story clubhouse with a variety of resident amenities. Construction in slated for completion in early 2022. Treymore Construction will serve as general contractor for the project. Hurst Public Facility Corp. is the development partner, while NDC Corporate and Redstone are the financial partners for the …

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Active AdultDevelopmentNewsTennessee

McShane to Build 138-Unit Avenida Hendersonville Near Nashville

by Jeff Shaw

HENDERSONVILLE, Tenn. — Avenida Partners has selected McShane Construction Co. to build Avenida Hendersonville, a 138-unit active adult community in the Nashville suburb of Hendersonville. The three-story building will be positioned on a five-acre site. The community will offer 6,000 square feet of amenities. Completion of Avenida Hendersonville is slated for May 2022. This will be Avenida’s third active adult community in Tennessee. The architect of record is Poole & Poole Architecture.

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DevelopmentNewsTexas

Civitas, StoneCreek Plan 104-Unit Redevelopment Project in Houston

by Jeff Shaw

HOUSTON — Civitas Senior Living, a senior living operator, and StoneCreek Real Estate Partners, a seniors housing developer, have announced plans for StoneCreek of Copperfield in Houston. The project will be a redevelopment of the Copperfield Racquet and Health Club, a longtime landmark of Northwest Houston for more than 30 years. The 98,000-square-foot community will be situated on 6.6 acres featuring 12 independent living villas as well as 74 assisted living and 18 memory care units. Other project partners include Pi Architects and interior design firm Senior By Design. Ground-up …

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