MIAMI — Integra Investments, through its affordable housing development affiliate Interurban, has broken ground on Mosaico, a 271-unit affordable seniors housing project in Miami’s Allapattah neighborhood. Interurban is developing Mosaico in partnership with Elderly Housing Development & Operations Corp. (EHDOC), an affordable seniors housing nonprofit. Slated for delivery in 18 months, Mosaico is situated on a 1.2-acre site. The 13-story project will include 179 one-bedroom units and 92 oversized studio units, with four townhome units lining the southern perimeter. CC Hodgson Architectural Group designed the project. The development was financed …
Development
CHARLOTTE, N.C. — Bridgewood Property Co. has acquired 727 E. Morehead St. in Charlotte with plans to construct a luxury senior living community, The Village on Morehead, on the site. Bridgewood received rezoning approval for the site in July 2020 and plans to break ground in the spring of 2021. Bridgewood has selected Charlotte-based BB+M as the architects, LandDesign as the civil engineers and Choate Construction as the general contractor. Bridgewood’s long-standing operating partner, Retirement Center Management, will handle operations of the community upon completion.
Woda Cooper Starts Construction of 50-Unit Center Crossing Affordable Community in Hickory, North Carolina
by Jeff Shaw
HICKORY, N.C. — Woda Cooper Cos. has started construction of Center Crossing, a 50-unit affordable housing community for seniors in Hickory, 50 miles northwest of Charlotte. The property will be near the city’s downtown Union Square and close to many shopping, dining and cultural opportunities, plus various medical facilities and public offices. Center Crossing will serve seniors age 55 and older who earn up to 80 percent of area median income (AMI) with some units reserved for those at 40 percent, 50 percent and 60 percent AMI. The four-story, elevator-serviced …
SAN DIEGO — HJ Sims has arranged $77 million in financing for Casa de las Campanas, a continuing care retirement community (CCRC) in San Diego. Life Care Services operates the community, which LCS Development built. The community is in the middle of a multi-phase master plan that includes renovation and expansion of its facilities, including new skilled nursing, independent living and memory care areas. In 2014, Sims secured bank financing through City National Bank (CNB) for Phase I of the plan. Sims negotiated the Phase II financing terms with CNB …
Ryan Cos., Cadence, Starwood Complete Construction of Acoya Scottsdale at Troon in Arizona
by Jeff Shaw
SCOTTSDALE, Ariz. — The joint venture team of Ryan Cos. US, Cadence Living and a controlled affiliate of Starwood Capital Group has completed construction of Acoya Scottsdale at Troon in Scottsdale. The community features 135 independent living and assisted living units in 22 floor plans ranging from 585 square feet to 2,385 square feet. The new community is situated on six acres of land between Pinnacle Peak and Troon Mountain. Thoma-Holec Design handled the interior design. This is the second Acoya-branded community in Arizona, and several more are planned according …
Story Senior, MPH Partners Underway on 140-Unit Luxe at Las Colinas Project in Irving, Texas
by Jeff Shaw
IRVING, Texas — A partnership between Story Senior Ltd. and MPH Partners LLC is underway on construction of The Luxe at Las Colinas, a 140-unit active adult project in Irving. The community will span approximately 149,000 square feet and offer one- and two-bedroom units ranging in size from 644 to 1,112 square feet. Moss Construction is the general contractor for the project, which is scheduled for completion in November 2021.
Seasons Living Starts Construction of 130-Unit Broadwell Senior Living in Plymouth, Minnesota
by Jeff Shaw
PLYMOUTH, Minn. — Seasons Living has started construction of Broadwell Senior Living in Plymouth, a suburb of Minneapolis. The community will feature 34 independent living units, 72 assisted living units and 24 memory care units in a 160,000-square-foot building. Set to open in summer 2021, Seasons Living will oversee management. The development is a partnership with Goldenrod Cos.
Eden Housing Opens Corsair Flats Affordable Community as Part of $1B Mixed-Use Project in Alameda, California
by Jeff Shaw
ALAMEDA, Calif. — Eden Housing, along with the City of Alameda and Alameda Point Partners, has opened Corsair Flats in Alameda, a suburb of Oakland. The new affordable residential community features 60 residential units for low-income seniors age 62 and up. It is the first of two affordable residential communities to be completed by Eden Housing at Alameda Point’s Site A. The $1 billion, mixed-use, transit-oriented, waterfront development is located on the site of the former Naval Air Station Alameda, which closed over 20 years ago. KTGY Architecture + Planning …
Plymouth, Bellwether Break Ground on $150.7M The Rise on Madison Affordable Multifamily Project in Seattle
by Jeff Shaw
SEATTLE — A joint venture between Plymouth Housing and Bellwether Housing has broken ground for the development of The Rise on Madison, a 17-story affordable apartment community in Seattle’s First Hill neighborhood. Plymouth will operate 115 studio units, with on-site supportive services, for formerly homeless seniors on floors one through six. Bellwether will operate 253 affordable, studio, one-, two- and three-bedroom apartments on floors seven through 16. Located at 1400 Madison St., The Rise on Madison will feature a large community room, roof deck and ground-floor retail space, as well …
Associated Bank Provides $29M Construction Loan for Senior Living Development in Bloomington, Minnesota
by Jeff Shaw
BLOOMINGTON, Minn. — Associated Bank has provided a $29 million loan for the construction of a 133-unit senior living development in Bloomington. Dubbed ThePOINTE Bloomington, the independent living community is the second of a two-phase project on a 7.5-acre site. Phase I, currently under construction, is the 118-unit Cherrywood Pointe community that features assisted living and memory care. ThePOINTE will rise five stories. United Properties is the developer. Jim Vitt of Associated Bank handled the loan closing.