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Formation Development Group Hires Michael Duggan as Senior Vice President

by Jeff Shaw

ALPHARETTA, Ga. — Formation Development Group LLC (FDG), a senior living development firm based in Alpharetta, has hired Michael Duggan as senior vice president. Duggan joins FDG from Anthology Senior Living where he spent eight years and served most recently as executive vice president, overseeing the development and construction teams. In his tenure at Anthology, he oversaw the growth of the development platform to over 30 projects across the country.  Duggan’s focus at FDG will be to lead the firm’s development strategy and execution. Formation Development Group, founded in 2007, …

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DevelopmentIndependent LivingNewsTexas

Journey Capital Starts Phase III Expansion at Edition of Saginaw in Texas

by Jeff Shaw

SAGINAW, Texas — Journey Capital has broken ground on the third phase of development at Edition of Saginaw Senior Living in Saginaw, just north of Fort Worth.  The phase will add 36 independent living cottages to the property. In partnership with Journey Capital’s affiliate operating arm led by Shawn Corzine of SilverPoint Senior Living, Journey unveiled Phase I of the Edition of Saginaw Senior Living community in January 2022, featuring 22 independent living cottages. Phase II is currently under construction will add a 71-bed assisted living and memory care facility …

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Affordable HousingCaliforniaDevelopmentNews

Milestone Completes Siesta Senior Apartments in Sonoma, California

by Jeff Shaw

SONOMA, Calif. — Milestone Housing Group will host a grand opening this week for Siesta Senior Apartments, an affordable housing community for seniors in Sonoma. Located on a 2.3-acre site, the three-story community offers 92 one-bedroom units. Housing Trust Silicon Valley, a nonprofit community loan fund, provided financing for the project.

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CCRCDevelopmentFinanceMassachusettsNews

MassDevelopment Issues $5M Bond Financing for Improvements at Glenmeadow in Longmeadow, Massachusetts

by Jeff Shaw

LONGMEADOW, Mass. — MassDevelopment has issued $5 million in tax-exempt bond financing on behalf of Glenmeadow Inc., a nonprofit life plan community. The borrower will use proceeds to complete several projects at its campus in Longmeadow, located along the Connecticut border just south of Springfield.  Projects include completing the demolition of the existing natatorium building and constructing a new building to house a natatorium and a wellness center; renovating dining venues; upgrading electric, plumbing and HVAC systems; installing rooftop solar panels; and buying equipment, fixtures and furniture.  This financing complements …

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Affordable HousingDevelopmentFinanceMassachusettsNews

2Life Communities Receives $7.6M HUD Grant Funding for 127-Unit Affordable Project in Boston

by Jeff Shaw

BOSTON — 2Life Communities has received more than $7.6 million from the U.S. Department of Housing and Urban Development’s (HUD) Office of Multifamily Housing Programs.  The funding is part of HUD’s recent announcement of $160 million in grants awarded to nonprofit organizations across the country that support the development of new or redeveloped affordable multifamily rental housing and ongoing project-based rental assistance for low- and very-low-income seniors.  The Section 202 Supportive Housing for the Elderly grant funding for 2Life will go towards creating 127 new affordable apartments for seniors with …

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CaliforniaDevelopmentNews

Belmont Village Tops Out 177-Unit Community in San Ramon, California

by Jeff Shaw

SAN RAMON, Calif. — Belmont Village Senior Living has completed vertical construction of Belmont Village San Ramon, its fifth community in the Bay Area.  The property is located within the Bishop Ranch master-planned community, which includes retail, dining and entertainment. Harrison Street Real Estate is the development partner, with Synovus Bank and Cadence Bank providing debt. Belmont Village San Ramon is a six-story, 175,320 square-foot senior living community that is scheduled to open in late 2024.  With views of Mount Diablo and surrounding hills, Belmont Village San Ramon offers independent …

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Affordable HousingDevelopmentMassachusettsNews

Pennrose Starts Construction of 93-Unit Littleton Drive Affordable Community in Wareham, Massachusetts

by Jeff Shaw

WAREHAM, Mass. — Pennrose and Wareham Redevelopment Authority (WRA) have begun construction on Littleton Drive, a 93-unit mixed-income development for families. The project is being built on a vacant, 16-acre plot in Wareham, a South Coast city along Buzzards Bay and just west of Cape Cod. It is scheduled for completion in summer 2024. Plans for Littleton Drive include a 49-unit family development with a mix of workforce and affordable apartments and a 44-unit affordable development for seniors age 62 and older. One-, two-, and three-bedroom apartments will be available …

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Active AdultDevelopmentNewsTexas

Caldwell Communities Opens Cadence Creek at Towne Lake in Cypress, Texas

by Jeff Shaw

CYPRESS, Texas — Caldwell Communities has opened Cadence Creek at Towne Lake, an active adult community in Cypress, a suburb of Houston. The community features one- and two-bedroom apartments and cottages ranging from 760 to 1,230 square feet. The number of units was not disclosed. Caldwell opened its first community in nearby Spring at the end of 2022.

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DevelopmentIndianaNews

LCS Development Plans $100M Expansion at Greenwood Village South in Indiana

by Jeff Shaw

GREENWOOD, Ind. — LCS Development has unveiled plans for a $100 million expansion project at Greenwood Village South, a seniors housing community in Greenwood, a southern suburb of Indianapolis. Plans include a new salon. library, indoor pool, 280-seat auditorium and an outdoor courtyard for pickleball and bocce ball. Greenwood Village South officials say the expansion will also dramatically improve two levels of care the 62-year-old facility provides: assisted living and memory care. For the expansion, LCS plans to build 66 new independent living “hybrid” homes in the form of six …

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DevelopmentNewsTexas

Tradition Senior Living Completes 297-Unit Project in Fort Worth, Texas

by Jeff Shaw

FORT WORTH, Texas — Developer and operator Tradition Senior Living has completed construction on a 297-unit project within the 270-acre Clearfork mixed-use development in Fort Worth.  The Tradition-Clearfork offers 214 independent living residences and 95 assisted living and memory care units. Residences come in one- and two-bedroom formats and range in size from 880 to 2,200 square feet.  Jackson & Ryan Architects designed the project, and Rogers-O’Brien Construction served as general contractor.

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