CINCINNATI — Gardner Capital has completed Roselawn Gardens, a LEED-certified seniors housing community in Cincinnati. The property features 50 apartments for seniors earning between 30 and 60 percent of the area median income. Construction was partially funded through the Low-Incoming Housing Tax Credit affordable housing program. Development partners included the Cincinnati Metropolitan Housing Authority, the Ohio Housing Finance Agency, Fifth Third Bank and Stratford Capital. Arco Construction served as the general contractor for the project. Wallick Communities is the operator.
Development
WEST CHESTER, Pa. — Kendal Corp. has completed construction of Preston, a 61,000-square-foot expansion of its Barclay Friends community in West Chester, approximately 25 miles west of Phialdelphia. Preston features 60 new apartments, including 20 for memory care. The building was named in honor of Dr. Ann Preston, a 19-century Quaker activist and physician who was one of the first women in America to become a medical doctor.
CENTRAL, La. — Claiborne Senior Living has opened The Claiborne at Shoe Creek in Central, a suburb of Baton Rouge. The community features 70 assisted living residences and 30 memory care apartments. Caroline Smith is executive director of the community and Jill Dupont is community relations director.
NORTH STRABANE TOWNSHIP, Pa. — HJ Sims has arranged $29.3 million in financing for the development of Encore on the Lake, an 80-unit independent living community in North Strabane Township, approximately 20 miles southwest of Pittsburgh. Presbyterian Senior Care (PSC) is developing the four-story community, which will target middle-income residents. Companies involved in the project include Senior Housing Partners, a subsidiary of Presbyterian Homes & Services. For this financing, Sims identified commercial bank financing as the preferred option for the majority or the financing. The main lender is First National Bank …
SUGAR LAND, Texas — Gardner Capital has completed construction of Gala at Four Corners, a 93-unit active adult community in the Houston suburb of Sugar Land. Gardner Capital developed Provision at Gala at Four Corners with the city of Sugar Land, partnering with RBC Capital Markets and the Fort Bend Housing Finance Corp. The general contractor was GCRE Construction and the property manager is Allied Orion Group.
COLLEGE STATION, Texas — Oldham Goodwin Group has opened The Huntington at College Station, a 120-unit affordable seniors housing community in Central Texas. The property spans five acres and offers proximity to Baylor Scott & White Medical Center and the newly developed Midtown City Center mixed-use destination, as well as Texas A&M University. Units are reserved for persons over age 62, with income restrictions for 92 of the apartments. Construction began in June 2019. Alpha-Barnes Real Estate Services manages the community.
CARY, N.C. — HJ Sims has arranged $6.6 million in financing for Samaritan Housing’s continued expansion plans at SearStone, a continuing care retirement community in Cary. Following the original Phase I development, SearStone consists of 131 independent living apartments, 38 independent living estate homes, 14 assisted living units and 25 skilled nursing beds. Sims financed the first phase of SearStone with a $117.5 million non-rated, fixed-rate bond issue in June 2012 and an expansion of the healthcare center in 2016 with an $8 million issue. Sims provided the original seed …
MOUNT SINAI, N.Y. — Engel Burman has opened The Bristal at Mount Sinai, a 120-unit assisted living community in the Long Island hamlet of Mount Sinai. The Bristal at Mount Sinai has 76 assisted living apartments and 44 additional apartments for memory care. Monthly rents begin at $5,200 for assisted living and $8,400 for memory care. This is the 20th Bristal-branded community, with 15 of those located on Long Island. Engel Burman develops, owns and operates the properties.
Despite the significant challenges of converting old buildings into seniors housing, developers roll the dice and build a more inviting product. By Jeff Shaw Because of the special needs of the sector, seniors housing developers nearly always say they prefer ground-up development rather than redevelopment projects. It allows them to build a property exactly how they want in order to meet the needs of modern seniors. But sometimes an opportunity presents itself to convert an old building into something new, often restoring a historic property to new glory. Because of …
Developers should help increase safe, welcoming options for seniors. By Charlie Adams and Aileen Montour For members of the LGBTQ community, access to safe, affordable and inclusive housing is a necessity. Research has shown that LGBTQ-identifying individuals report lower incomes, increased food insecurity, higher unemployment and increased vulnerability to homelessness. Many cities across the country have implemented initiatives over the years to combat discrimination and promote inclusivity — everything from opening LGBTQ community centers to hosting pride parades. But as “the Stonewall Generation” grows older, more can and should be …