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.
Development
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.
Ziegler Closes $108.8M Bond Financing for Phase II of St. Ann’s Home Renovations in Rochester, New York
by Jeff Shaw
ROCHESTER, N.Y. — Ziegler, a specialty investment bank, has closed $108.8 million in bond financing for continued renovations at St. Ann’s Home in Rochester. St. Ann’s Community operates the community, along with four others. Phase I of the master-planned project is complete, which relocated 34 post-acute rehabilitation beds from the Wegman Care Center to the ninth floor of St. Ann’s Home, the largest of the company’s skilled nursing facilities. The new bond financing will fund Phase II of the project, which will renovate floors three through eight of St. Ann’s …
TORRANCE, Calif. — Oakmont Senior Living has opened a marketing information center at Oakmont of Torrance, the company’s seniors housing development in Torrance, just south of Los Angeles. Set to open this spring, Oakmont of Torrance will offer 55 assisted living and 32 memory care units in a 106,613-square-foot building situated on two acres.
GLEN MILLS, Pa. — Erickson Living has broken ground on an expansion at Maris Grove, a continuing care retirement community in Glen Mills, approximately 20 miles west of Philadelphia and 13 miles north of Wilmington, Delaware. The three-story, 76,000-square-foot project will be named Evergreen Pointe. The building will feature 84 new assisted living units. Evergreen Pointe is part of Erickson’s multi-year plan to expand and renovate Maris Grove’s existing residences. The new building will be located adjacent to the existing continuing care building, Rose Court, which will be renovated to …
SAN FRANCISCO — San Francisco Campus for Jewish Living (SFCJL) is preparing to open the Lynne and Roy M. Frank Residences, a $140 million expansion to the property. The 270,000-square-foot expansion adds 113 assisted living apartments and 77 memory care suites. Byer Square, a new multi-generational community center, will feature a fitness center, pool, cinema, performance center, art studio and café. Construction began in mid 2017. Residents are expected to begin moving in during spring 2020. In conjunction with the expansion, SFCJL has created partnerships with Alzheimer’s Association, Creative Aging …
CHARLESTON, S.C. — Truist Financial Corp., through Atlanta-based SunTrust, has provided $50 million in financing to support the renovation and expansion of Bishop Gadsden Episcopal Retirement Community on James Island in Charleston. The funding will allow Bishop Gadsden to renovate existing assisted living facilities and construct a new 156,000-square-foot Health Care and Rehabilitation Center. Renovations to the existing building will result in 81 one- and two-bedroom assisted living units. The new building will feature 32 memory care, 64 long-term skilled care and 32 short-term skilled post-acute rehab residences. The project …