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DevelopmentFloridaNews

Ryan Cos. Delivers 204-Unit Grand Living at Wellen Park in Venice, Florida

by Jeff Shaw

VENICE, Fla. — Ryan Cos. US Inc. has completed construction of Grand Living at Wellen Park, a 235,267-square-foot luxury senior living community in Venice, a Gulf Coast city approximately midway between Tampa and Fort Meyers. Offering 204 residential units, the property will be part of Wellen Park, a master-planned development encompassing 11,000 acres. The four-story building includes 156 independent and assisted living units, 36 memory care units and 12 villas.  Ryan served as the developer and builder as well as an investor in the community. Ryan A+E Inc., Ryan’s design …

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Active AdultDevelopmentNewsNorth Carolina

Flournoy Breaks Ground on Active Adult Community in Asheville, North Carolina

by Jeff Shaw

ASHEVILLE, N.C. — Flournoy Development Group has broken ground on a new active adult community in Asheville. The Class A property will be part of The Preserve at Busbee Mountain, a 130-acre, master-planned residential development in Central Asheville’s dynamic southern corridor. The active adult community, which was not yet named, will follow development of Ellison at The Preserve, a 315-unit conventional multifamily community, and later followed by a second conventional multifamily phase and single-family estate lots. The 179-unit active adult community will feature mountain and forest views. Construction is currently …

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Assisted LivingCaliforniaDevelopmentNews

Clearwater Living Opens 101-Unit Community in Newport Beach, California

by Jeff Shaw

NEWPORT BEACH, Calif. — Clearwater Living has opened Clearwater Newport Beach, a 101-unit seniors housing community in the coastal Orange County city of Newport Beach. Clearwater Newport Beach offers 70 assisted living and 31 memory support apartments. Clearwater Living actively acquires, develops and operates a full range of seniors housing communities throughout the Western United States. Clearwater Newport Beach will be the company’s 11th community in California, Nevada and Arizona, with additional developments in the pipeline.

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CCRCDevelopmentFinanceIndependent LivingNewsNorth Carolina

Ziegler Arranges $67.2M Bond Financing for United Methodist Retirement Homes

by Jeff Shaw

DURHAM, LUMBERTON and GREENVILLE, N.C. — Ziegler has arranged $67.2 million in bond financing for The United Methodist Retirement Homes (UMRH), a North Carolina-based nonprofit owner-operator of three continuing care retirement communities in the state. The borrower’s portfolio includes Croasdaile Village Retirement Community in Durham, Wesley Pines Retirement Community in Lumberton and Cypress Glen Retirement Community located in Greenville.  In total, the three communities comprise a total of 690 independent living units, 28 memory care units, 112 assisted living units and 194 skilled nursing units, which ranks UMRH as the …

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ArizonaCCRCDevelopmentIndependent LivingNews

Ryan Cos. Completes 142,000 SF Second Phase of Friendship Village Tempe Redevelopment in Arizona

by Jeff Shaw

TEMPE, Ariz. — Ryan Cos. US Inc. has completed the second phase of a master-planned renovation on the 50-acre campus of Friendship Village Tempe.  The newly constructed, four-story, 142,000-square-foot building is 89 percent occupied. LCS Development is leading the project, and the operator is LCS. Friendship Village Tempe, one of the first continuing care retirement communities in the region, was originally built in 1980. The revitalization of its campus began with Phase I of construction in 2019. Ryan A+E Inc., the design studio of Ryan, was the architect for both …

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Assisted LivingColoradoDevelopmentFinanceNews

Lument Arranges $27M Construction Financing for Mesa Verde Estates in Durango, Colorado

by Jeff Shaw

DURANGO, Colo — Lument has arranged a $27 million debt placement to assist Mission Senior Living with the construction of a 124-unit, 129-bed, two-story assisted living and memory care community to be known as Mesa Verde Estates in Durango.  Lument’s Steve McGee, Rob McAdams, and Sangjin Na led the transaction. The financing structure included a $20.9 million U.S. Department of Agriculture (USDA) guaranteed loan that a community bank provided. The structure also includes approximately $6 million of commercial property assessed clean energy (C-PACE) proceeds, which Lument sourced from an independent …

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Affordable HousingDevelopmentNewsPennsylvania

Tryko Nears Completion of 46-Unit Cedarwood Homes Affordable Community in Pittsburgh

by Jeff Shaw

PITTSBURGH — With construction progressing on schedule for a March 2024 delivery, leasing is underway at Cedarwood Homes in Pittsburgh’s West End.  An on-site leasing office is now open at the age-restricted affordable housing community, marking a milestone for Tryko Partners’ redevelopment of the former Fairywood School site.  Available to residents ages 62 and over, Cedarwood Homes includes seven market-rate apartments and 39 residences for those with incomes up to 60 percent of the area median income.

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Affordable HousingCaliforniaDevelopmentNews

Kennedy Wilson Nears Completion of 579-Unit Anacapa Canyon Multifamily Project in Camarillo, California

by Jeff Shaw

CAMARILLO, Calif. — Global investment and development firm Kennedy Wilson (NYSE: KW) is nearing completion of Anacapa Canyon, a 579-unit multifamily project in the Southern California community of Camarillo. Anacapa Canyon, a 32-acre master-planned development, consists of 310 market-rate apartments, 109 for-sale, single-family homes and 170 income-restricted apartments for senior citizens. The first move-ins are underway, and full completion of the project is slated for the third quarter. Kennedy Wilson developed Anacapa Canyon in a public-private partnership with California State University Channel Islands (CSUCI) and partnered with Comstock Homes, as …

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DevelopmentMassachusettsNews

LCS Opens 223-Unit The Delaney at The Vale in Woburn, Massachusetts

by Jeff Shaw

WOBURN, Mass. — LCS has completed construction of The Delaney at The Vale in Woburn, a suburb north of Boston.  The community features three connected buildings with 103 apartments for independent seniors, 84 assisted living apartments and 36 memory care apartments. In addition to seniors housing section, The Vale also offers new retail and office space, new landscaped areas and walking paths, preservation of 28 acres of undeveloped land, restoration of nearly 15,000 square feet of wetlands and a new connection between the site and the existing Tri-Community Greenway. Life …

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CCRCDevelopmentNewsSouth Dakota

Sanford Health Plans 330-Unit CCRC in Sioux Falls, South Dakota

by Jeff Shaw

SIOUX FALLS, S.D. — Sanford Health has announced plans to build Good Samaritan Society – Founder’s Crossing, a continuing care retirement community (CCRC) in Sioux Falls.  The developer plans to break ground this spring. The first phase of the project calls for 146 independent living villas, 120 independent living apartments, 32 assisted living apartments and 32 memory care apartments, due for delivery in 2026.  A second phase over the following two years will add a short-term rehabilitation and long-term care center, additional villas, a Sanford Health clinic and a Lewis …

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