ROYAL PALM BEACH, Fla. — Hunt Midwest and Integral Senior Living have teamed with Pi Architects to develop The Capstone at Royal Palm, a 75,000 square-foot senior living community in the South Florida village of Royal Palm Beach. Plans call for 56 assisted living apartments and 44 memory care suites. “The Capstone at Royal Palms is the first in a series of projects with Hunt Midwest, Integral Senior Living and Pi Architects,” says Pi President Greg Hunteman.
Development
Hunt Capital Partners Arranges $7.3M LIHTC Financing for Eastern Woods Senior Apartments in Findlay, Ohio
by Jeff Shaw
FINDLAY, Ohio — Hunt Capital Partners, in collaboration with Pennrose and Blanchard Valley Health System (BVHS), has arranged $7.3 million in federal low-income housing tax credit (LIHTC) equity financing for construction of Eastern Woods Senior Apartments. Located on 3.7 acres in Findlay, approximately 45 miles south of Toledo, the community will offer 50 affordable housing units. Residents must be 55 or older and earn up to 30, 50 and 60 percent of the area median income. Eastern Woods Senior will be the newest addition to BVHS’ existing Eastern Woods campus, …
FORT WORTH, Texas — Greystar Real Estate Partners has unveiled plans for Album Keller Ranch, an active adult apartment community in Forth Worth. Developed in partnership with The Carlyle Group, the 180-unit community will be the first under the Album brand. “Album was created in response to a growing demand for the freedom and convenience of modern active adult rental living at a moderate monthly cost,” says Jackie Rhone, executive director of Greystar Active Adult Apartment Homes. Album Keller Ranch is scheduled to open in spring 2021. The community is …
OLNEY, Md. — Cadence Living and Flournoy Development Group have broken ground on Cadence Olney, a 107-unit seniors housing community in the Washington, D.C. suburb of Olney. The community is situated on 37 acres that includes 31 acres of forest preserve that will serve as a natural amenity for residents. The property will include a three-story building for independent living and assisted living and a two-story building for memory care.
ATLANTA — Timshel Development Group, in collaboration with The Gateway Cos. and the Atlanta Housing Authority, has purchased 4.3 acres of vacant land in Atlanta for Harmony at Bakers Ferry, an affordable seniors housing development. Located on the west side of Atlanta, the property will feature 108 units. Atlanta Housing Authority will own the plot and lease it to the developers. Douglas Calderwood with New South Realty Associates represented the housing authority in the acquisition. Perry Hayes with Bull Realty Inc. represented the seller, Executive Real Estate. The price and …
Resort Lifestyle Communities Plans $30M Greenway Square Independent Living Community in South Carolina
by Jeff Shaw
INDIAN LAND, S.C. — Resort Lifestyle Communities (RLC) has planned an Oct. 1 groundbreaking ceremony for Greenway Square, an independent living community in Indian Land, located across the North Carolina border from Charlotte. The $30 million, 180,000-square-foot community is the fourth RLC location in South Carolina.
DCHFA Provides $78M in Financing for Development of The Residences at Kenilworth Park in Washington, D.C.
by Jeff Shaw
WASHINGTON, D.C. — The District of Columbia Housing Finance Agency (DCHFA) is funding the construction of The Residences at Kenilworth Park, an affordable assisted living community in Washington, D.C’s Ward 7. DCHFA issued $58 million in bond financing and underwrote $20 million in four percent Low Income Housing Tax Credit (LIHTC) financing for the 157-unit development. Apartments at The Residences at Kenilworth Park will be reserved for seniors age 60 and above who require assistance with two or more activities of daily living. Residents must earn 60 percent or less …
FATE, Texas — Private equity firm Gardner Capital has partnered with the City of Fate, a small city northeast of Dallas, to develop Gala at Fate, a 185-unit affordable seniors housing community. The city will lease the land to Gardner Capital, with plans for long-term ownership by the public-private partnership. CREA and Citibank are additional financial partners for the project, with Citibank providing both construction and permanent financing. “An important piece of our community’s comprehensive plan is to provide a wide range of housing choices, from first-time home buyers up …
HIGHLAND PARK, Ill. — Capitol Seniors Housing has opened Atria Highland Park, an assisted living and memory care community in the Chicago suburb of Highland Park. The three-story, 72,000-square-foot community features 86 residential apartments on a 2.6-acre site. The operator is Atria Senior Living. Mosely Architects designed the project, while StudioSIX5 handled interior design. “Overlooking Sunset Valley Golf Club and located just south of Sunset Woods Park, the new community is also near medical facilities, downtown Highland Park shops and restaurants, a post office and many more local amenities,” says …
Watercrest, United Properties Near Completion of 198-Unit Community in Sarasota, Florida
by Jeff Shaw
SARASOTA, Fla. — Watercrest Senior Living Group and United Properties have reached the final phase of construction of Watercrest Sarasota. The community features 72 independent living units, 94 assisted living units and 32 memory care residences. Walker & Co. is building the property alongside Interior Design Associates.