GREENVILLE, S.C. — Ziegler has arranged a total of $35.7 million in bond financing for The Woodlands at Furman, a nonprofit continuing care retirement community (CCRC) in Greenville. The community opened in 2009 adjacent to Furman University on land leased by The Furman University Foundation. The property currently features 132 independent living apartments, 28 independent living villas (some of which are under construction), 32 assisted living apartments, 16 memory care units and 30 private skilled nursing units. The bond financing will fund an expansion at the property, adding 44 independent …
Development
BRIDGEWATER, N.J. — LCS has unveiled plans for an $8 million revitalization of Laurel Circle, an independent living community in Bridgewater, approximately 40 miles southwest of Manhattan. The community’s wellness center will see some of the most dramatic changes, according to LCS, including new gym equipment. In addition, LCS will add a new outpatient clinic to provide more health services. The plan also calls for upgrades to the community’s salon and lobby.
WIMBERLEY, Texas — Civitas Senior Living has opened the doors on Alexis Pointe Senior Living in Wimberley, a small city between Austin and San Antonio. Totaling 55,000 square feet, the property features 10 independent living cottages, 49 assisted living apartments and 24 memory care suites. The community is located a quarter mile from the Wimberley Senior Center and a half mile from Wimberley Town Square. Civitas now owns and operates 40 seniors housing communities, with 15 more under development.
ELGIN, Ill. — New Perspective Senior Living has unveiled plans for New Perspective – Elgin, a seniors housing community in Elgin, approximately 25 miles northwest of downtown Chicago. The four-story structure will offer independent living, assisted living and memory care. The number of units was not disclosed.
UPPER ARLINGTON, Ohio — HJ Sims has arranged a total of $55 million in bond financing for First Community Village, a continuing care retirement community (CCRC) in Upper Arlington, a suburb of Columbus. National Church Residences manages the community. The bonds will be used to fund an independent living expansion at the property, called The Fairfax Project. The Fairfax Project includes the demolition of 30 existing independent living units, and construction of a four-story independent living building totaling 70 units. The expansion will also add a heated underground parking garage.
Phoenix Senior Living, Whitehall Development Group Building 43-Unit Community in South Carolina
by Jeff Shaw
CAMDEN, S.C. — Phoenix Senior Living has formed a joint venture with Whitehall Development Group to construct The Colonial at Old Camden. The community will feature 43 units of assisted living and memory care in a 31,000-square-foot building. Camden is located approximately 35 miles northeast of Columbia. Construction is nearly complete, with residents expected to start moving in in March.
GRAND RAPIDS, Mich. — BB&T Capital Markets has closed on $70.2 million in bond financing to fund the expansion of Clark Retirement Community’s Keller Lake campus in Grand Rapids. The financing consists of $64.5 million in tax-exempt bonds and $5.7 million in taxable bonds, all at a fixed rate. The Keller Lake expansion is currently under construction. The project will add 53 independent living units to the community to the continuing care retirement community. Upon completion, Clark Retirement Community’s two campuses will total 185 independent living units, 230 assisted living …
LOS ANGELES — South Bay Partners, through a joint venture with LAMB Properties and Columbia Pacific Advisors, has started construction of The Variel in the Woodland Hills neighborhood of Los Angeles. The eight-story, mid-rise building will feature 215 independent living units, 94 assisted living units and 27 memory care units. The leasing office is scheduled to open this fall, with occupancy planned for winter of 2021. VTBS Architects and Rodrigo Vargas Design are the design team for the project. W.E. O’Neil Construction will serve as general contractor. West Bay Senior …
Resort Lifestyle Communities Plans Groundbreaking for $30M Independent Living Community Near Salt Lake City
by Jeff Shaw
SOUTH JORDAN, Utah — Resort Lifestyle Communities (RLC) plans to break ground Wednesday, Feb. 19, on South Jordan View, an independent living community in South Jordan, a suburb of Salt Lake City. Units will be available in studio, one-, two- and three-bedroom options. The community will total 180,000 square feet and development costs are estimated at $30 million. The total number of units and timeline for completion were not released.
Resort Lifestyle Communities Opens Deerfield Springs Independent Living Near Cincinnati
by Jeff Shaw
LOVELAND, Ohio. — Resort Lifestyle Communities has opened Deerfield Springs, an independent living community in the Cincinnati suburb of Loveland. The property features 128 apartments in studio, one-, two- and three-bedroom layouts. “From our research, we found that Cincinnati’s metro was in great need of additional independent senior living options,” says Phil Benjamson, COO of Resort Lifestyle Communities.