By Becky Trybus, CHID, EDAC, RID, IIDA Senior living design is now squarely focused on the already-here and not-yet-peaked baby boomer generation. This generation grew up with higher household incomes and in a blossoming consumer-based society. Living longer with money to spend, boomers make up the largest demographic in the United States. Health, wealth and quality experiences embody this segment of our population, so it’s no wonder why they’ll expect this to continue in their later years. Let’s explore how these key generational traits translate into the built environment, practical …
Development
How can the owner of an older property improve the ‘wow’ factor to better compete in the marketplace? Play to your strengths By Megan Longley Vice President, Sales Acts Retirement-Life Communities The most important way to “wow” is always in the human element of the first impression. That is what prospects are really registering and making the decision against: Warm greetings, staff introducing themselves in the hallways, happy and engaged residents. To compete, all of us must pay routine attention to curb appeal — that means signage, landscaping, easy car-to-curb …
PEMBROKE PINES, Fla. — ANF Group Inc. has completed construction of Providence Living at Pembroke Pines, a new assisted living facility and memory care facility in Pembroke Pines, Florida. The 114,003-square-foot community features 81 units of assisted living and 40 units of memory care. The project is located on 3.15 acres at the entrance to the Pembroke Pines City Center, approximately 20 miles north of Miami. Providence One Development and ANF Real Estate Group developed the property. ANF Group was the general contractor, while Providence Senior Living will manage the …
EBSC Lending Provides $51.8M in Financing for Community Expansion in Garfield Heights, Ohio
GARFIELD HEIGHTS, Ohio — EBSC Lending has provided a $51.8 million loan for the expansion of a senior living and skilled nursing community located in Garfield Heights, a suburb of Cleveland. The 294,083 square-foot project will add a four-story independent and assisted living building featuring 86 units. The expansion also includes a two-story skilled nursing building and a two-story health center with a physical and occupational therapy gym and memory care suites. Construction began in June 2021, and the new expanded spaces are slated to open in January 2025. The …
By Julie Ferguson, executive vice president, senior living, Ryan Cos. In less than a year, the oldest baby boomers will begin turning 80. By 2030, the youngest will be 65 or older. Not only are baby boomers the largest generation, but they are projected to cause seniors to outnumber children under the age of 18 for the first time in U.S. history by 2034, according to the U.S. Census Bureau. As time drives forward, the need for seniors housing rises. The National Investment Center for Seniors Housing & Care (NIC) …
HARRISBURG, Pa. — Marquis Health Consulting Services has started a multi-million-dollar renovation at The Terraces at Capitol Village and Capitol Rehabilitation & Healthcare Center, a senior living and skilled nursing campus. The properties are located in Harrisburg, the state capital on the Susquehanna River in Central Pennsylvania. Work is set to begin this month at The Terraces at Capitol Village, a 64-unit personal care community. The undertaking will include a complete refresh of the lobby and hallways as well as the main dining room, activity room, theater and private dining …
LCS Development Plans $90M Cypress Glen Expansion Project in Greenville, North Carolina
GREENVILLE, N.C. — LCS Development, An LCS Company, has received an undisclosed amount of financing for the community expansion and remodeling project at Cypress Glen, a senior living community in Greenville. The $90 million project will add 57 independent living residences and include a new auditorium, expo kitchen, wine bar and remodeled amenities. LCS Development has led the planning, development and design, and will oversee the construction services. The expansion is slated for completion by November 2025. Cypress Glen sits on over 95 scenic acres and is the only continuing …
PARKER, Colo. — Health Dimensions Group (HDG), along with co-owners Ellipsis and Invesque, has opened Terra Bluffs, an assisted living and memory care community in Parker. The property is located southeast of Denver. Details such as the number of units were not disclosed. HDG provides oversight of the community’s day-to-day operations. Ellipsis is the project developer for the care community and Invesque is the project’s investment partner.
JACKSONVILLE, Fla. — Pearlmark has provided a $33 million mezzanine loan for the development of RISE @ Glen Kernan Park, a 308-unit active adult development in Jacksonville’s Southside neighborhood. Pearlmark closed the financing via its Pearlmark Mezzanine Realty Partners V LP investment vehicle. Benefit Street Partners provided the senior debt piece, the amount of which was not disclosed. Taylor Williams of Walker & Dunlop arranged the project capitalization on behalf of the borrower, RISE, a locally based multifamily development firm with five other projects in the Jacksonville market. RISE @ …
MassDevelopment Issues $39.9M Bond Financing for Affordable Project in Brookline, Massachusetts
BROOKLINE, Mass. — MassDevelopment has issued a $39.9 million tax-exempt bond on behalf of 32 Marion Apartments LLC, an affiliate of Brookline Housing Authority, which will use proceeds to build 115 units of affordable housing for seniors and individuals with disabilities in Brookline’s Coolidge Corner neighborhood. The new one-bedroom units in the Boston suburbs will be rented to households earning no more than 60 percent of area median income ($62,340 for a one-person household) and will replace 60 outdated existing public housing units on the property. Bond proceeds will also …