PHILADELPHIA — The U.S. Department of Housing and Urban Development (HUD) has awarded HumanGood $26.5 million in financing from the Green and Resilient Retrofit Program (GRRP), which provides funding for direct loans and grants to HUD-assisted multifamily properties to make sustainability updates. The following HumanGood affordable housing communities in Philadelphia were the only properties in Pennsylvania to receive the award in the comprehensive category in its first wave: The funds will help HumanGood meet sustainability goals, assisting in the renovation and preservation of 329 affordable seniors housing units. President Biden’s …
PLANO, Texas — The Legacy Senior Communities has unveiled plans for an independent living expansion of The Legacy Willow Bend, its flagship community in Plano. This initiative aims to meet the demand for premium senior living, as Dallas-Fort Worth experiences a significant demographic trend towards a growing senior population, according to the company. The expansion, with its hybrid-home design, will offer all the privacy of a single-family home, while still maintaining a sense of community and security that having a few neighbors will bring. This new model presents an entirely …
Dominium Receives $354.2M Financing Package for Two Affordable Housing Projects in Glendale, Arizona
GLENDALE, ARIZ. — Merchants Capital has arranged more than $86.2 million in Freddie Mac 4 percent Low-Income Housing Tax Credit (LIHTC) Tax-Exempt Loan (TEL) forwards for the construction of Juniper Square, an affordable seniors housing community, and 67 Flats, an affordable family housing development, both in Glendale. Dominium Inc. is developing the two communities. The properties will maintain affordability through 2053, which will restrict all units to residents earning 60 percent or less of the area median income. The Freddie Mac permanent financing comprises $29.8 million for Juniper Square and $56.3 …
DANVILLE, Calif. — JLL Capital Markets has arranged $51.1 million in construction financing for a 50-unit active adult condominium development in Danville, located in the San Ramon Valley east of the Bay Area. Matt Cimino and Jordan Angel of JLL represented the borrowers, Jeff Stone of Diamond Construction and three high-net-worth individuals, in securing the financing from a Southern California-based lender. Located at 375 W. El Pintado, the development will feature 13 one-bedroom, 29 two-bedroom and eight three-bedroom condominium-style units. Community amenities include a lounge, game area, library, rooftop terrace …
By Julia Bailey, senior associate, OZ Architecture As architects and designers, our goal is always to conceive the optimal vision for each project. But, as anyone who’s worked in this field for any length of time knows, this journey seldom follows a straightforward path from imagination to realization. The design process requires us to navigate within the confines of project parameters, including site specifics, project objectives, financial constraints and regulatory requirements. However, if we are to continually elevate our designs and cater to the evolving needs of aging adults and …
MIAMI — SG Holdings has completed leasing at Sawyer’s Walk, a 3.4-acre mixed-use development underway in Miami’s Overtown neighborhood. The project, which will feature retail space, offices and affordable housing for seniors, is set to open this summer. SG Holdings is a partnership comprising Swerdlow Group, SJM Partners and Alben Duffie. The development team broke ground on Sawyer’s Walk in summer 2021. The development costs were not disclosed, but the Miami Herald reported the price tag hovers around $350 million. “The anticipated delivery of our mixed-use development will serve as an economic …
CENTENNIAL, Colo. — Headwaters Group has broken ground on Aspendale Centennial, an active adult community in Centennial, a southern suburb of Denver. The property will feature 172 units in a four-story, 203,653-square-foot building. Live Oak Bank provided construction financing, and a programmatic institutional equity partner provided equity. “This is a meaningful project, as it will be our first ground-up development since Headwaters Group’s inception in 2022,” says Ben Burke, managing partner at Headwaters Group. The focal point of the community will be a two-story clubhouse, featuring 9,757 square feet of …
Former tennis star turns into one of the biggest owners and operators in seniors housing. By Jeff Shaw It would be a massive understatement to describe Andy Kohlberg’s resume as “unusual.” It’s also very short: • Professional tennis player, 1979 to 1988 (final record of 90-100, including one doubles tournament win. His highest ranking was 142nd in February of 1986) • CEO and co-founder, Kisco Senior Living, 1990 to present • Vice chairman, Phoenix Suns, 1994 to present Taking a year off after retiring from tennis at the age of …
MAUMELLE, Ark. — Health Dimensions Group (HDG) has opened Mira at Maumelle, which the developer claims is the first senior living community in the Little Rock suburb of Maumelle. Mira at Maumelle provides independent living, assisted living and memory care services. The number of units was not disclosed. HDG now manages the property, bringing its portfolio to 48 communities in eight states.
VINELAND and WINSLOW, N.J. — Live Well Senior Cottages, a New Jersey-based seniors housing development firm, has received governmental approval for two seniors housing development projects in Vineland and Winslow. The two municipalities are located approximately 15 miles away from each other, both in South Jersey about midway between Philadelphia and the Atlantic Coast. Project partners include ARH Associates Inc. and Key Engineers. Distinctive Living will be the operating partner in the venture with overall responsibility for management and marketing. Live Well communities will target middle-income seniors. The company plans …