Development

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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Assisted LivingDevelopmentMinnesotaNews

Lifespace Prepares to Open 21-Unit Expansion at Friendship Village of Bloomington in Minnesota

by Jeff Shaw

BLOOMINGTON, Minn. — Lifespace Communities plans to open a healthcare center expansion at Friendship Village of Bloomington later this month. The project adds 16 assisted living apartment homes and five memory care suites to the senior living community, bringing the total communitywide capacity to 42 assisted living apartments and 32 memory care suites. The three-story building is equipped with a secure memory care courtyard. This phase is part of a larger $114.5 million communitywide expansion and redevelopment initiative. The overall project also includes a new independent living building with 93 …

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CCRCDevelopmentNewsTexas

Legacy Senior Communities Completes $186M CCRC in North Dallas

by Jeff Shaw

DALLAS — The Legacy Senior Communities (LSC) has completed construction of The Legacy Midtown Park, a seniors housing community in North Dallas. Located on a 12-acre plot, the property features 184 rental independent living apartments, 51 assisted living apartments, 36 memory support residences and 54 private skilled nursing and rehabilitation suites. Development costs were estimated at $186 million. “The new senior community will have capacity to serve over 500 residents and will create over 300 new jobs,” says Legacy Senior Communities CEO Melissa Orth. Construction began in 2018, with the …

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