LONDONDERRY, N.H. — Edgewood Senior Solutions Group has acquired land in Londonderry’s Woodmont Commons, where the group plans to build senior living community called The Baldwin. Project plans call for 190 independent living apartments. Several of the community’s amenities, including a spa and salon, a convenience store and multiple dining venues, will be open to the public. “Our location in Woodmont Commons — and the mixed-use aspect being built into The Baldwin — adds a valuable intergenerational dimension you don’t find in most senior living communities,” says Marlene Rotering, CEO …
Development
SUGAR HILL, Ga. — Holbrook Life has unveiled plans for a new seniors housing community in Sugar Hill, approximately 35 miles northeast of downtown Atlanta. Plans call for 102 assisted living units and 28 memory care units at the community. Partners on the project include Holbrook Life Management, Choate Construction, Harrison Design Architect and Abbey Hall Interiors. The City of Sugar Hill Downtown Development Authority has offered an eight year, $5 million dollar tax abatement incentive for the project.
GEORGETOWN, Texas — MedCore Partners and The National Realty Group (TNRG) have started construction of The Hacienda at Georgetown, a 230-unit senior living community in Georgetown, a suburb of Austin. The community sits on a 13.2-acre tract situated at the south entrance to Sun City Texas, an extensive master-planned active adult community. The resort-style senior living campus will offer 125 independent living residences, 81 assisted living apartments and 24 memory care units. The $85 million project is the first part of a two-phase, $115 million campus. The second phase will …
KENT, Wash. — Cadence Living and Flournoy Development Group have broken ground on Cadence at Kent-Meridian in the Seattle suburb of Kent. The five-acre property is an infill location located adjacent to restaurants and other amenities, with views of Mount Rainier and contains a forest. The three-story building will feature 128 units for both independent and assisted living. Santé Development Group aided in the site selection process. “It is very rare to find a site that combines urban walkability with a natural preserve,” says Rob Leinbach, Cadence principal. “Combine that …
Allied Group Holdings Plans to Redevelop Mall Near Tampa as 154-Unit Assisted Living Facility
by Jeff Shaw
ST. PETERSBURG, Fla. — Allied Group Holdings has completed the acquisition of two retail buildings in St. Petersburg, with plans to redevelop the site into a seniors housing-anchored mixed-use project. The buyer acquired Maximo Mall, a 2.8-acre, 39,000-square-foot retail center, and the adjacent Maximo Plaza, a 2.5-acre, 10,600-square-foot, single-tenant retail building occupied by Ace Hardware. Local private lender LV Lending provided $3.6 million in financing for the transactions. Camilo Niño, Ricardo Uribe and Alen Hernandez of LV Lending led the financing. Allied Group Holdings plans to redevelop the site into …
Solutions Advisors Group Opens Sales Center at 132-Unit Aspire at East Beach in Virginia
by Jeff Shaw
NORFOLK, Va. — Solutions Advisors Group (SAG) has opened the sales center at Aspire at East Beach, a waterfront seniors housing community in Norfolk. The four-story building features 132 units of independent living. The community is slated to open in summer 2021. Solvere Living, the operations division of Florida-based SAG, will operate the community upon completion. The developer of the community is Arlington-based Bonaventure. East Beach marks the third of its Aspire-branded communities.
HJ Sims Arranges $38.2M Financing for Presbyterian Villages of Michigan Independent Living Expansion
by Jeff Shaw
CHESTERFIELD, Mich. — HJ Sims has arranged $38.2 million in bond financing for Presbyterian Villages of Michigan (PVM), a nonprofit network of seniors housing communities. In 2002, PVM acquired land immediately adjacent to its Village of East Harbor campus in Chesterfield, a suburb of Detroit, for an expansion project. In 2018, a new health and wellness center was completed. The current project being financed comprises the final phase of the expansion with a new independent living area known as Harbor Inn. The Harbor Inn campus will include 12 rental single-level …
Boston Capital Finance Arranges $21.5M Bond Financing to Rehabilitate Affordable High-Rise in Orlando
by Jeff Shaw
ORLANDO — Boston Capital Finance (BCF) has arranged $21.5 million in bond financing for the rehabilitation of Baptist Terrace, a 14-story affordable seniors housing community in downtown Orlando. The 197-unit community was built in 1969 and is fully leased. The rehabilitation will help preserve the property as affordable housing well into the future, according to BCF. The developer is the Orlando Neighborhood Improvement Corp., a nonprofit developer/manager.
Kayne Anderson, Watermark, Tishman Speyer Open $330M Seniors Housing Community in Brooklyn
by Jeff Shaw
NEW YORK CITY — A development team consisting of Kayne Anderson Real Estate, Watermark Retirement Communities and Tishman Speyer has opened the $330 million Watermark at Brooklyn Heights seniors housing community at 21 Clark St. The project is a redevelopment of the Leverich Towers Hotel, a 310,000-square-foot hotel built in 1928 that served as the pre-game home of the Brooklyn Dodgers baseball team in the 1930s and 1940s. The building’s 275 apartments include 145 for independent living, 88 for assisted living and 42 for memory care. Watermark at Brooklyn Heights …
MAPLE HEIGHTS and WEST UNION, Ohio — The Sohm America Integrations Group (SAI) has opened two Alpine House-branded communities in Ohio. Both are historical buildings that were extensively renovated. The property in the Cleveland suburb of Maple Heights once housed a hotel that hosted Elvis Presley and Johnny Cash before its conversion to independent living and assisted living. The property in West Union, approximately 65 miles east of Cincinnati, was the site of the former Adams County Hospital. The SAI Group is an umbrella group for multiple independent companies committed …