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Development

Affordable HousingDevelopmentNewsWashington, D.C

Enterprise Receives Financing for 151-Unit Edgewood Commons V Affordable Community in Washington, D.C. 

by Jeff Shaw

WASHINGTON, D.C. — Enterprise Community Development Inc. has received an undisclosed amount of financing for development of Edgewood Commons V, a 151-unit affordable seniors housing community in Northeast Washington, D.C. The development is part of the larger Edgewood Commons development, which will feature nearly 800 affordable housing units. Edgewood Commons V will feature 11 studios, 135 one-bedroom and five two-bedroom apartments. Of those, 96 apartments will be available for residents earning up to 30 percent of the area median income (AMI), 54 apartments will be available for residents earning up …

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Assisted LivingDevelopmentNew JerseyNews

Chelsea Senior Living Opens Community in Washington Township, New Jersey

by Jeff Shaw

WASHINGTON TOWNSHIP, N.J. — Chelsea Senior Living has opened The Chelsea at Washington Township, an assisted living and memory care community in Washington Township, a suburb of Philadelphia. Capitol Seniors Housing is the property owner. The number of units was not disclosed. This will be Chelsea’s second community in Bergen County, 18th in New Jersey and 23rd overall. Chelsea and CSH are working together on their next community in the New York City suburb of West Orange, New Jersey, projected to open in 2025. Chelsea also opened its Fair Lawn, …

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DevelopmentIndependent LivingNewsTexas

JPI Begins Leasing 185-Unit Independent Living Community in Anna, Texas

by Jeff Shaw

ANNA, Texas — Locally based developer JPI, in partnership with the City of Anna, has begun leasing Parmore Anna Senior Living, a luxury independent living community located approximately 50 miles north of Dallas.  The property will be the first of its kind in Anna and JPI’s second installment in its new line of senior housing developments. The Anna Housing Finance Corp. is also a partner on the project.  The 150,000-square-foot community will span over nine acres and include 185 apartments. Rents start at $1,100 per month for a one-bedroom unit.

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Affordable HousingDevelopmentKentuckyNews

Woda Cooper, Housing Services Alliance Open 57-Unit Haven Crossing Affordable Community in Walton, Kentucky

by Jeff Shaw

WALTON, Ky. — Developer Woda Cooper Cos. Inc. and co-developer Housing Services Alliance have opened Haven Crossing, an affordable seniors housing community in Walton, approximately 20 miles south of Cincinnati. Haven Crossing is a three-story building with an elevator that provides 33 one-bedroom units and 24 two-bedroom units. It is restricted to residents age 55 and over earning 30 percent to 80 percent of the area median income (AMI). Project partners included Kentucky Housing Corp., Boone County, City of Walton, Marble Cliff Capital and First Financial Bank. Primary financing for …

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AcquisitionsDevelopmentFeaturesNews

Acquisitions Make More Sense Than Development in Today’s Market, Says Benchmark CEO Tom Grape

by Jeff Shaw

The dearth of new supply in the seniors housing space is a double-edged sword, says Tom Grape, founder, chairman and CEO of regional operator Benchmark Senior Living. While the lack of new product has provided a much-needed lift to operators of existing communities seeking to boost occupancy, it’s also a missed opportunity for developers chomping at the bit to start new projects.  The year-over-year (YOY) inventory growth in seniors housing was 1.3 percent in the third quarter, nearly the smallest YOY growth since 2012, according to NIC MAP. Grape foresees …

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Active AdultDevelopmentMassachusettsNews

United Group Receives $35M Construction Financing for The Arbella at Bramble Hill in Worcester, Massachusetts 

by Jeff Shaw

WORCESTER, Mass. — The United Group of Cos. Inc. has received $35 million in construction financing for The Arbella at Bramble Hill, an active adult development in Worcester. The Washington Trust Co. provided the capital with the assistance of JLL Capital.  The Arbella will span 17 acres and offer 123 one- and two-bedroom apartments across three elevator-serviced buildings. The community will also feature an 8,5000-square-foot clubhouse. United Group plans to complete construction by the beginning of 2025. Project partners include Marchionda & Associates, Syvertsen Rigosu Architects and Campanelli Associates Construction …

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Affordable HousingDevelopmentFinanceMassachusettsNews

MassDevelopment Issues $17.8M in Bond Financing for Leland House Affordable Community in Waltham, Massachusetts

by Jeff Shaw

WALTHAM, Mass. — MassDevelopment has issued $17.8 million in tax-exempt bond financing on behalf of 2Life Leland LLC, an affiliate of 2Life Communities. The borrower will use bond proceeds to demolish a vacant former rest home at 21 Newton St. in downtown Waltham and build a three-story, 68-unit affordable rental housing facility for seniors in its place.  Built in 1891, the existing building operated as The Leland Home before its closing in 2020. The new building, which will be known as Leland House, will include 66 one-bedroom apartments and two …

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DevelopmentIllinoisIndependent LivingNews

Covenant Breaks Ground on $66.5M Expansion Project in Northbrook, Illinois

by Jeff Shaw

NORTHBROOK, Ill. — Covenant Living Communities and Services has broken ground on an expansion project at Covenant Living of Northbrook in Northbrook, a suburb north of Chicago. The $66.5 million expansion includes three new three-story carriage homes. This will add 36 new one- and two-bedroom apartments, each with a large patio or balcony and private garage. The overall project also includes a reimagined town center, adding another 9,000 square feet with upgraded dining venues — both indoors and outdoors. The outdoor spaces will incorporate a fit pit. The development team …

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DevelopmentFloridaNews

Lawson Group Architects Completes Phase One of 81 Oaks Senior Living in Sarasota, Florida

by Jeff Shaw

SARASOTA, Fla. — Lawson Group Architects (LGA) has completed Phase One of 81 Oaks Senior Living in Sarasota. N21 Group, a related partner of LGA, co-developed the project. The 108,000-square-foot property is situated on a 20-acre site, which features intergenerational aspects due to the campus including a church and a public charter school.  Phase One offers independent living, assisted living and memory care residences featuring studios, one- and two-bedroom floorplans. Future phases include independent living apartments and a neighborhood of one-story villas with attached garages. JP Wiseman Construction built the …

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Assisted LivingDevelopmentMinnesotaNews

Coventry Holdings of Minnesota Opens Suite Living Senior Care Community in White Bear Lake

by Jeff Shaw

WHITE BEAR LAKE, Minn. — Coventry Holdings of Minnesota has opened its 18th Suite Living Senior Care community, located in a northeastern suburb of Minneapolis. The floor plan for each Suite Living community is identical, offering a 21,500-square-foot, single story residence that provides 32 single-occupant care suites serving both assisted living and memory care needs.  All Suite Living Senior Care communities are owned by Coventry and professionally managed by Suite Living Senior Care Inc, a wholly owned division of Coventry. All Suite Living communities are located in highly visible suburban …

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