Development

HATTIESBURG, Miss. — Hunt Capital Partners has committed $13.2 million in federal low-income housing tax credit, federal historic tax credit and state historic tax credit equity financing for Preservation Crossing, an affordable seniors housing project in Hattiesburg. 

SHREWSBURY, N.J. — Investment and development firm Capitol Seniors Housing and operator Chelsea Senior Living have opened The Chelsea at Shrewsbury, an assisted living and memory care community located approximately 20 miles south of New York City.

ATLANTA — LTC Properties Inc. (NYSE: LTC) has closed on a $6.8 million mezzanine loan for the construction of Corso Atlanta, a nine-acre campus in the Buckhead area of Atlanta.

CIBOLO, Texas — Gardena, California-based Highridge Costa Development Company and Dallas-based Casa Linda Development Corporation have opened El Sereno Senior Living, an affordable seniors housing community in Cibolo, approximately 20 miles northeast of downtown San Antonio.

LOS ANGELES — It’s no secret there’s a lot of capital chasing seniors housing deals. REITs aren’t selling, Boomers are still aging, and investors have a pool of money that doesn’t have a home. That’s according to panelists at InterFace Conference Group’s Seniors Housing West, held March 7 at the Omni Los Angeles. What does have a home, ironically, is the senior population. 

ROGERS, Ark. — Abby Development has started construction of Pinnacle Groves, a seniors housing community in Rogers, located in the Northwestern corner of the state.

RENO, Nev. — Carson City, Nev.-based Mission Senior Living has broken ground on Mountain Lakes Estates Retirement Community in Reno.

WACO, Texas — LifeCare Properties, together with Blake Management Group, have unveiled plans for The Blake at Waco, a 112-unit assisted living and memory care community in Waco’s historic South Side.