Development

SAN JOSE — Atria has completed construction of Atria Almaden, a 200-unit seniors housing community in the Almaden neighborhood of San Jose. The property is located near Almaden Lake Park, Santana Row and the San Pedro Square Market. The four-story community offers assisted living and memory care. Atria opened the community with aggressive infectious disease control measures under a health and safety initiative. The company vaccinated its first residents and staff on Dec. 21 and has now vaccinated more than 30,000 resident and staff across the U.S.

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FORT WORTH, Texas — Bellwether Enterprise Real Estate Capital LLC has arranged a $28.9 million loan for the construction of Legacy Riverside Senior Living Community in Fort Worth. Phil Melton and Jeff Bradley, both in Bellwether Enterprise’s Dallas office, originated the loan with Cindy Hannon of Bellwether’s Atlanta office on behalf of the borrowers, Legacy Multifamily Development and RISE Residential Construction. This is the sixth loan deal in which Bellwether Enterprise has partnered with RISE Residential since 2017. Legacy Riverside will provide 264 affordable units in north-central Fort Worth, using …

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SIMI VALLEY, Calif. — USA Properties Fund has commenced construction on two apartment projects in Simi Valley. Totaling $114 million, the combined communities will offer a total of 311 mixed-income, multi-generational units to the area. Situated on nearly 13 acres, the projects are The Landing at Arroyo, a market-rate community, and Vintage at Sycamore, an affordable seniors housing community for residents at least 62 years old. The project is located on the former Rancho Simi Recreation and Park District’s headquarters. Vintage at Sycamore will feature 99 apartments for seniors earning …

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MONTVALE, N.J. — Thrive Senior Living will open the welcome center on March 27 for Thrive at Montvale, a seniors housing community in Montvale. The community will feature 203 units of independent living, assisted living and memory care. The three-story building is located near Lake Tappan along the New York State border just north of Manhattan.

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NEW YORK CITY — Maplewood Senior Living and Omega Healthcare Investors Inc. (NYSE: OHI) have opened Inspīr Carnegie Hill, a high-rise seniors housing community in Manhattan’s Upper East Side neighborhood. The property is the first to open under Maplewood’s luxury Inspīr brand. Rising 23 stories, the community features 215 units of assisted living, memory care and what the company calls “enhanced care.” Claire Davenport will serve as house geriatrician through a collaboration with the Brookdale Department of Geriatrics and Palliative Medicine at the Icahn School of Medicine at Mount Sinai, …

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DENVER — Ryan Cos. US Inc. and Cadence Living have unveiled plans for Acoya Cherry Creek, a seniors housing community in the Cherry Creek neighborhood of Denver. Totaling 156,622 square feet and 137 units, the project will be the first Acoya-branded community in the Denver market and the third in Colorado. The types of care were not disclosed. According to Moore Diversified Services, the senior population in the Denver area is expected to increase by more than 26 percent over the next five years. “Not only is there a need …

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SALEM, Ore. — Live Oak Bank has provided a $28.5 million loan for the construction of a 142-unit independent living expansion in Salem, approximately 45 miles south of Portland. The borrower is Mosaic Management. The project will be Phase II of a larger campus, which already includes a 138-unit assisted living and memory care building that was completed in May 2019. The expansion will total 147,000 square feet on an 8.9-acre plot.

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DALLAS, Ga. — Phoenix Senior Living has started construction of The Phoenix at Dallas in Dallas, approximately 30 miles northwest of Atlanta. This project, scheduled for completion by March 2022, is adjacent to Phoenix’s existing memory care community, The Pearl at Dallas. Phase I of the project will add 56 independent living luxury cottages to the campus, with each totaling 1,220 square feet. Details on future phases were not disclosed.

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VIRGINIA BEACH, Va. — Pembroke Realty Group and Beth Sholom Village have announced plans for a seven-story seniors housing community in Virginia Beach. The new building, which does not yet have a name, will feature 124 independent living apartments, 20 assisted living apartments and 12 memory support units. Kahler Slater Architects and CJMW Architecture designed the property, which is scheduled to open in fall 2023.

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MYRTLE BEACH, S.C. — Liberty Senior Living has announced a grand opening celebration on April 29 for Inspire Coastal Grand, a 194-unit active adult community in Myrtle Beach. The complex features more than 600,000 square feet of residential and commercial space. Apartments range from 766 square feet to 1,400 square feet. It is located less than two miles from the Atlantic Ocean. “Properties that focus on fostering a sense of community within their neighborhood are the most successful and valued because they provide residents with wellness, vitality and happiness,” says …

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