Development

CCRCDevelopmentNewsVirginia

The Virginian Begins $56.5M Renovation project in Fairfax, Virginia

by Jeff Shaw

FAIRFAX, Va. — The undisclosed owner of The Virginian, a senior living community in the Northern Virginia city of Fairfax, will break ground this Thursday on a $56.5 million renovation project. The 18-month renovation with “completely reimagine” the seven-story, 367,000-square-foot building. Following the project, the community will include four wings featuring 155 independent living apartments, 56 assisted living units and 38 memory care residences. Located on a 32-acre wooded campus just northeast of the city’s downtown are, The Virginian is one of the only senior living communities in Northern Virginia, according …

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Affordable HousingCaliforniaDevelopmentNews

USA Properties Fund Starts Construction of $80M Vintage at Woodman Affordable Community in Los Angeles

by Jeff Shaw

LOS ANGELES — USA Properties Fund Inc. has started construction of Vintage at Woodman, a 239-unit affordable seniors housing community in the Panorama City neighborhood of Los Angeles. Units will be restricted to residents at least 55 years old that meet a range of income limits, via the California Housing Finance Agency’s Mixed-Income Program. Vintage at Woodman is the first USA Properties project to use the Mixed-Income Program. With the Mixed-Income Program, renters earning 50 percent to 80 percent of the area median income — about $45,000 to $72,000 for …

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Assisted LivingDevelopmentNewsVirginia

Silverstone, Watermark Open The Providence Luxury Community in Fairfax, Virginia

by Jeff Shaw

FAIRFAX, Va. — Silverstone Senior Living and Watermark Retirement Communities have opened The Providence, a luxury seniors housing community in the MetroWest neighborhood of Fairfax. The property features studio, one- and two-bedroom apartments offering services for assisted living, memory care and cognitive impairment. The number of units was not disclosed. Silverstone designed and developed the property, which Watermark will operate. The Providence features innovations that reduce or prevent transmission of viruses. These include an enhanced filtration and HVAC system, cold plasma bi-polar ionization, relative humidity levels of 40 to 60 …

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Affordable HousingDevelopmentMassachusettsNews

Pennrose Breaks Ground on Julia Bancroft School Adaptive Reuse Project in Auburn, Massachusetts

by Jeff Shaw

AUBURN, Mass. — Pennrose and the Town of Auburn have broken ground on the historic rehabilitation of the Julia Bancroft School, a 60-unit, mixed-income development for seniors 62 and older. The site is located in Auburn, a suburb just south of Worcester. Plans for the redevelopment include renovating the original 1920s school building, demolishing the later-built addition and replacing it with a new, four-story building. The project is slated for completion in summer 2022. Designed to meet LEED Silver sustainability standards, the community will include studio, one-, and two-bedroom apartments. …

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DevelopmentFinanceNewsOregon

CBRE Arranges $60.4M Construction Financing for The Springs at Happy Valley in Oregon

by Jeff Shaw

HAPPY VALLEY, Ore. — CBRE National Senior Housing has arranged $60.4 million in construction financing for The Springs at Happy Valley, a senior living community to be built in Happy Valley. Situated on a 6.95-acre site, the community will feature 210 units, about half of which are earmarked for independent living and the other half for assisted living and memory care. Happy Valley is an affluent suburb approximately 10 miles southeast of downtown Portland. Aron Will, Austin Sacco and Adam Mincberg of CBRE National Senior Housing arranged the financing on …

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Active AdultDevelopmentGeorgiaNews

Greystar Opens Leasing at Overture Powers Ferry Active Adult Community Near Atlanta

by Jeff Shaw

CUMBERLAND, Ga. — Overture Powers Ferry, Greystar’s newest 55+ active adult community, is now leasing with first move-ins planned for this fall. The community features 171 one- and two-bedroom apartment homes, available to individuals over the age of 55, and is located in the first-ring Atlanta suburb of Cumberland. The community is situated just north of Atlanta’s upscale Buckhead neighborhood. The property features 12,000 square feet of community space for gatherings. Apartments range from 555 to 1,405 square feet, with rents starting at $1,543 per month.

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Affordable HousingDevelopmentMarylandNews

Pennrose Opens Phase II of Residences at Glenarden Hills Affordable Community in Maryland

by Jeff Shaw

GLENARDEN, Md. — Pennrose, Redevelopment Authority of Prince George’s County, B&W Solutions and SHABACH! Ministries has opened Residences at Glenarden Hills II, an affordable housing expansion in the Washington, D.C. suburb of Glenarden. The development is the second of the six-phase Glenarden Hills master-planned community, which will include senior and family affordable apartments, market-rate and affordable rental townhomes and for-sale townhomes across 27 acres. The Residences at Glenarden Hills II extends and completes the four-story building built in Phase I, adding an additional 55 units of affordable seniors housing, a …

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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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