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.
Development
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 …
RANCHO BERNARDO, Calif. — Ryan Cos. has completed construction of Silvergate Rancho Bernardo, an 11-acre seniors housing campus in Rancho Bernardo, approximately 25 miles north of San Diego. AmeriCare Health & Retirement developed the community, which Ryan Cos. built. The development features of 20 cottages, 108 apartments, six penthouse units and 48 memory care units, and was 90 percent pre-leased. The apartments range from 400 square feet to 1,200 square feet, while the cottages run between 1,400 square feet and 1,600 square feet. Silvergate Rancho Bernardo is AmeriCare’s third development …
LA GRANGE, Ill. — Pathway to Living has opened Aspired Living of La Grange, a 117-unit assisted living and memory care community in La Grange, approximately 13 miles southwest of downtown Chicago. Totaling five stories and 118,583 square feet, the community features 85 assisted living and 32 memory care units. Pathway to Living is a Chicago-based developer, owner and operator of seniors housing communities and the seniors housing arm of Chicago-based real estate investor and operator Waterton. This is the company’s 23rdcommunity in Chicagoland. Thoma Holec provided interior design services, …
ST. PAUL, Minn. — Ryan Cos. has broken ground on the redevelopment of a 122-acre former Ford plant in St. Paul’s Highland Park neighborhood. Named Highland Bridge, the project has a focus on residential, featuring seniors housing, market-rate multifamily housing and 760 units of affordable housing, as well as for-sale row homes. In addition to the project’s 3,800 housing units, Highland Bridge is slated to include 150,000 square feet of retail space, 265,000 square feet of office space and 50,000 square feet of civic or institutional spaces. More than 55 …
DENTON, Texas — Investcor has completed the renovation of Fairhaven Assisted Living, a historic senior living building in Denton, approximately 35 miles north of Fort Worth. The development team for the 47-unit project included Pi Architects, Coastal Reconstruction, Allison Engineering, TDi Engineering, MEP Associates Design Groups and Architexas. The original building was designed by Texas architect O’Neil Ford, whose designs blended the surrounding environment into the building and featured the use of natural elements and materials. The original Fairhaven was originally developed in the 1950s, but closed in 2007 and …