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Confluent Builds for the Future

by Jeff Shaw

With a $500 million pipeline, the developer is one of the few currently working on ground-up construction projects. By Jeff Shaw With borrowing rates at a 20-year high, the cost of construction extremely high in its own right, and suitable development sites becoming harder and harder to find, very few seniors housing builders are breaking ground right now. In the private-pay seniors housing segment, year-over-year inventory growth nationally was 1.3 percent in the third quarter of this year, according to NIC MAP Vision. That figure is near the smallest year-over-year …

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Affordable HousingDevelopmentMassachusettsNews

WinnDevelopment Starts $55.3M Adaptive Reuse of Historic Mill Complex in Western Massachusetts

by Jeff Shaw

HOLYOKE, Mass. — WinnDevelopment has broken ground on a $55.3 million adaptive reuse transformation of a long-vacant, historic mill complex that will be transformed into 88 affordable apartment homes for seniors age 55 and older. The project is located in Holyoke, a suburb of Springfield. The redevelopment at the Appleton Mill property in downtown Holyoke will create new loft-style apartments in three interconnected, 111-year-old industrial buildings that were once home to the Farr Alpaca Co. and have been vacant for decades. In addition, WinnDevelopment will construct a new community building …

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Assisted LivingDevelopmentNewsVirginia

The Virginian Opens New Assisted Living Wing as Part of $67M Renovation

by Jeff Shaw

FAIRFAX, Va. — The Virginian, an independently operated continuing care retirement community in Fairfax, has opened the second phase of the community as part of a $67 million renovation.  The renovated seven-story, 367,000-square-foot buildings will feature four wings, comprising 155 independent living apartments, 56 assisted living residences and 36 memory care units, along with 81 skilled nursing beds. Nestled on over 32 wooded acres along the Accotink Creek of the Potomac River, The Virginian stands out as one of the few senior living communities in the area.

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Affordable HousingCaliforniaDevelopmentNews

Community HousingWorks Opens Portola Senior Apartments in Lake Forest, California

by Jeff Shaw

LAKE FOREST, Calif. — Community HousingWorks (CHW) has opened Portola Senior Apartments, an affordable housing community in Lake Forest.  CHW’s first community in Orange County, Portola Senior Apartments is built as a standalone, four-story building with ground-floor retail space. The building features 58 one-bedroom apartments (including one designated for an on-site property manager) for singles or couples age 62 years and older who earn 50 percent of the area median income (AMI) or less, which is approximately $50,000 per year. Over 750 people applied to live in Portola within three …

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Assisted LivingDevelopmentNew YorkNews

FilBen Group Nears Completion of $54M Braemar at Montebello in New York

by Jeff Shaw

MONTEBELLO, N.Y. — Owner/developer FilBen Group, equity partner RSF Partners, general contractor McAlpine Contracting and designer H2M Architects + Engineers have completed the structural system and building enclosure, or “envelope,” for Braemar at Montebello.  Upon completion in 2024, the property will be a four-level, 133,675-square foot luxury assisted living residence on 6.2 acres in the Lower Hudson Valley village of Montebello. The parcel is adjacent to a larger site that includes the Montebello Commercial Center, which will offer Braemar’s residents access to retail, entertainment, dining, and medical services. The property …

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Affordable HousingArizonaDevelopmentNews

Pennrose Breaks Ground on $28M Affordable Seniors Housing Project in Phoenix

by Jeff Shaw

PHOENIX — Pennrose, Butler Housing Co., CBC Financing Corp., the City of Phoenix, the Arizona Department of Housing and additional project partners have broken ground on Garfield Housing Phase II, an affordable housing community for low-income seniors in Phoenix’s Garfield neighborhood. The project is located at 1510 E. Portland St. Located adjacent to the Garfield Commons affordable housing community, the second phase will deliver 60 affordable apartments with community amenities and on-site supportive services for seniors age 55 or older. Completion is slated for winter 2024. The four-story, 58,000-square-foot community …

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Affordable HousingAlabamaDevelopmentFinanceGeorgiaNewsTexas

BWE Arranges $15.3M in Financing for Affordable Communities in the South

by Jeff Shaw

AUSTIN, Texas; DOUGLASVILLE, Ga.; and MOBILE, Ala. — BWE has arranged $15.3 million in permanent loans to finance three affordable housing communities in Austin, Douglasville and Mobile. Jon Killough and Tony Love originated the loans using HUD’s RAD for PRAC initiative, a new tool designed to preserve existing Section 202 housing as well as create new Section 8 housing across the country. Traditionally, Section 202 PRAC rental assistance could only be used for operating expenses, not debt servicing. The RAD for PRAC process allows borrowers to convert PRAC subsidies to …

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DevelopmentNewsTexas

Ryan Cos. Tops Out Grand Living at The Grove in Austin, Texas

by Jeff Shaw

AUSTIN, Texas — Ryan Cos. US Inc., Grand Living and Castletop Capital have topped out Grand Living at The Grove, a seniors housing community in Austin. Located at The Grove, a mixed-use development in Central Austin’s, the five-story senior living community will total approximately 348,353 square feet and feature 177 independent and assisted living apartments, as well as an entire wing dedicated to 36 memory care apartments. Resident move-ins are scheduled to begin in early 2025. Grand Living at The Grove will provide an age-in community, which allows residents to reside …

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DevelopmentNewsVirginia

Hoffman, ESL to Develop 15-Story Seniors Housing Project at West Falls Development in Northern Virginia

by Jeff Shaw

FALLS CHURCH, VA. — Hoffman & Associates and Experience Senior Living (ESL) plan to co-develop The Reserve at Falls Church, a 15-story seniors housing project within the 10-acre West Falls mixed-use development underway in Northern Virginia.  The Reserve will feature more than 200 units of independent living, assisted living and memory care. Amenities will include a spa with a saltwater pool and fitness center, multiple onsite restaurants, a sky bar, maker space, concierge floors and electric vehicle transportation services.  Aside from the seniors housing component, West Falls will feature apartments, …

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CCRCDevelopmentIndependent LivingNewsPennsylvania

Spellman Brady & Completes Interior Design for Friendship Village of Tempe Expansion

by Jeff Shaw

TEMPE, Ariz. — Spellman Brady & Co. (SBC) has completed the interior design for a new five-story, 64-unit independent living building for Friendship Village of Tempe.  SBC was responsible for selecting the interior finishes, as well as the selection and procurement of the furnishings and artwork.  The crowning highlight of the 142,619-square-foot building is the rooftop destination restaurant and brew house called Starfire. SBC collaborated with architecture firm Ryan A+E Inc. and general contractor Ryan Cos. US Inc. LCS Development, An LCS Company is the developer. Friendship Village of Tempe …

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