BOSTON — Beacon Communities Development has unveiled plans for a 55-unit expansion of The Anne M. Lynch Homes at Old Colony, an affordable housing property in South Boston. Designed by The Architectural Team (TAT), units in the expansion will be reserved for low-income seniors. The property is also being built the Passive House energy-saving standards. “Leading developers of affordable and workforce housing are employing Passive House standards to benefit from their lower ongoing operating costs, healthier interior environments for residents, and a growing number of incentives from states and cities,” …
Development
LEBANON, Ohio — Leo Brown Group, a developer, owner and operator of senior living properties in the Midwest, has started construction of Traditions of Lebanon, located in the northeastern suburbs of Cincinnati. The community will feature 146 units in a mix of independent living, assisted living and memory care options. Development costs are estimated at $35 million. Traditions Management, an affiliate of the developer, will operate the community upon completion. “We are excited to get started on this project, which we feel is a much-needed senior living option for the …
Walker & Dunlop Arranges $10.1M in Financing for Affordable Redevelopment Project in Washington, D.C.
by Jeff Shaw
WASHINGTON, D.C. — Walker & Dunlop has structured $10.1 million in construction and permanent financing for Spring Flats. The project calls for the redevelopment of a historic property known as The Hebrew Home, located in the Petworth neighborhood of Northwest Washington, D.C. The development caters primarily to seniors and low-income residents. Development costs are estimated at $59 million. Originally constructed in 1925, The Hebrew Home served as a nursing home until 1968, when the city purchased the property and converted it into a community health center. The asset has been vacant …
NEW YORK CITY — Home Street Partners has completed construction of Home Street Residences, an affordable housing community in the Bronx The 75,000-square-foot building rises eight stories in the Foxhurst neighborhood. Of the 63 apartments, 30 percent are reserved for homeless seniors. Units average 550 square feet. Body Lawson Associates designed the property. Bronx Pro Group is the operator, and DreamYard designed the programming. Approximately 50,000 people have already applied for an apartment, according to Body Lawson Associates.
SHREWSBURY, Mass. — Massachusetts-based Casa Builders and Developers has started construction of Wyman Farms, a 26-unit senior living community in Shrewsbury, an eastern suburb of Worcester. The property will feature 13 duplex-style residences with two bedrooms each that will be restricted to residents age 55 and older. The property is located near UMass Memorial Medical Center University Campus, multiple golf courses and retailers such as Wegmans, Walmart and Whole Foods Market. The project is slated for completion in 2022.
LOS ANGELES — Panorama Senior Housing has released plans for an assisted living and memory care community on Holt Avenue, 200 feet south of Los Angeles’ Beverly Hills neighborhood. KTGY Architecture + Planning designed the 61,000-square-foot project. Construction is slated to start in early 2021, with delivery planned for late 2022. The community will have a total of 80 resident rooms, 62 for assisted living and 18 for memory care. The memory care units will be on the second floor of the five-story building, with a dedicated common area, dining …
Michigan Strategic Fund Approves $256M Mixed-Use Development in Lansing to Include Seniors Housing
by Jeff Shaw
LANSING, Mich. — The Michigan Strategic Fund (MSF) has voted to approve the brownfield and tax-increment financing (TIF) plan for the Red Cedar project, a $256 million mixed-use development along Michigan Avenue in Lansing. The approval gives the developer, Continental/Ferguson Lansing LLC, the green light to move forward with construction. The developer expects to break ground on 181 market-rate apartments as well as an assisted living and memory care facility late this summer. A 792-bed student housing component is scheduled for completion in fall 2021. Construction of two dual-brand hotels, …
MACON, Ga. — Watercrest Senior Living Group and its equity partners, Peninsula Alternative Real Estate and Corecam Capital Partners, have broken ground on Watercrest Macon Assisted Living and Memory Care in Macon. The community will feature 76 assisted living and 22 memory care units. Renasant Bank provided financing, while EMJ Corp. is building the property. Watercrest Macon is located within the Providence at Bass development. The prosperous area offers high-end residential, retail and dining establishments, as well as diverse cultural and entertainment venues. Watercrest Macon is scheduled to welcome residents …
LOS ANGELES — Panorama Senior Housing has unveiled plans for Eagle Rock Assisted Living and Memory Care Center in the Eagle Rock neighborhood of Los Angeles. KTGY Architecture + Planning is the architect of the new community. Groundbreaking is scheduled for early 2021, with completion in late 2022. The property will feature 87 assisted living units and 22 memory care units in a five-story building and a four-story building with a rooftop deck. A ground-level courtyard and subterranean parking structure connect the two buildings. “This site was quite challenging because …
Diakonos Group Starts Construction of 349,892 SF Skilled Nursing Facility in Oklahoma City
by Jeff Shaw
OKLAHOMA CITY — Diakonos Group LLC has started construction of Parc Place Medical Resort, a post-acute rehabilitation facility in Oklahoma City. Located on an 8.3-acre site, the 349,892-square-foot asset will offer 75 private rooms. The facility will focus on short-stay rehabilitation. Partners on the project include Pi Architects, SCI Construction and SMC Consulting Engineers. The building is divided into three houses, each with its own themed dining rooms, outdoor cafés and shaded garden courts. “We want to create an environment where people see others getting better and are inspired to …