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DevelopmentFrom The Magazine

Developers Devise Solutions for the Missing Middle

by Jeff Shaw

By Bendix Anderson The problem can seem too big to solve. Many seniors can’t afford private-pay seniors housing, such as independent living, assisted living or memory care. But millions of those potential residents also have too many financial resources to move into housing reserved for low-income seniors. By 2029, there will be 14.4 million of these “missing middle” seniors.  A few developers have new ideas about where these seniors might live. The prototypes of their new middle-market seniors communities are now under construction. From licensed assisted living in Florida to …

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Assisted LivingDevelopmentMissouriNews

IMPACT Strategies Opens 83-Unit Newbridge Retirement Community in Cape Girardeau, Missouri

by Jeff Shaw

CAPE GIRARDEAU, Mo. — IMPACT Strategies has completed construction of Newbridge Retirement Community, a senior living facility in Cape Girardeau, located along the Mississippi River approximately midway between St. Louis and Memphis. The 75,000-square-foot luxury retirement community features 83 units of assisted living and memory care Project partners included Vessel Architecture, Bowen Engineering & Surveying and SSC Engineering.

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CCRCDevelopmentMinnesotaNews

Kraus-Anderson Completes $91.8M Expansion at Friendship Village in Bloomington, Minnesota

by Jeff Shaw

BLOOMINGTON, Minn. — Kraus-Anderson (KA) has completed a $91.8 million expansion of Friendship Village, a senior living campus located in Bloomington. Lifespace Communities is the property owner. SAS Architects and Planners designed the 380,294-square-foot project, which adds a five-story independent living and assisted living building with 93 apartments. The expansion also features a three-story skilled nursing building and three-story health center with a physical and occupational therapy gym and memory care suites. Construction began in August 2019. Lifespace plans to open the new areas in November.

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ArizonaAssisted LivingDevelopmentNews

Cogir, Ryan Cos. Open 147-Unit ACOYA Shea in Scottsdale, Arizona

by Jeff Shaw

SCOTTSDALE, Ariz. — Cogir Senior Living and Ryan Cos. US Inc. have opened ACOYA Shea, an independent living, assisted living and memory care community in the Phoenix suburb of Scottsdale. The community features 147 units in a four-story building. “ACOYA Shea is located right in the heart of Scottsdale, and residents will be able to enjoy the walkability of the community and the proximity to all that the area has to offer,” says Dave Eskenazy, chief executive officer of Cogir Management USA. Cogir Senior Living develops, owns and/or operates 60 …

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Assisted LivingDevelopmentIllinoisNews

McShane Completes 131-Unit The Woodlands at Canterfield in West Dundee, Illinois

by Jeff Shaw

WEST DUNDEE, Ill. — McShane Construction has completed The Woodlands at Canterfield, a 131-unit senior living development in West Dundee, approximately midway between Chicago and Rockford.  Built for Westbrook at Canterfield, LLC, The Woodlands at Canterfield comprises 91 assisted living units and 40 memory care beds as well as 16,000 square feet of amenity space. Positioned on a nine-acre site, the one-, two- and three-story building features a fiber cement panel and stone veneer exterior. Units are offered in studio, one- and two-bedroom options AG Architecture is the architect and …

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Company NewsDevelopmentNewsTechnology

Omega Launches Senior Living Transformation Center to Showcase New Technologies

by Jeff Shaw

ATLANTA — The Senior Living Transformation Co. (SLTC) has acquired a 113-unit assisted living and memory care community in partnership with Omega Healthcare Investors (NYSE: OHI).  The Senior Living Transformation Center, known as The Rivers at Maryland Farms, is the first acquisition and demonstration pilot for the newly formed partnership. The objective of the partnership is to create both an innovation center for technology and data solutions for the seniors housing industry and to demonstrate a new model of care within seniors housing. SLTC was recently formed by leading senior …

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DevelopmentFinanceIndustry Voices

C-PACE Gains Popularity for Seniors Housing Construction

by Jeff Shaw

By Jason Clouet, Bayview PACE For seniors housing developers and project sponsors, the timing of the growing adoption of commercial property assessed clean energy (C-PACE) financing couldn’t be better. While demographics show demand for housing is rising, many new seniors housing projects are stalled as traditional financing sources are drying up, or rising interest rates have squeezed margins, or worried partners have increased equity/debt demands. C-PACE financing is saving new construction projects across the country that were halted or facing delays. It is also providing a welcome restructuring of the …

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DevelopmentNewsPennsylvania

Distinctive Living Opens Crescent Fields at Huntingdon Valley in Pennsylvania

by Jeff Shaw

HUNTINGDON VALLEY, Pa. — Distinctive Living has opened the doors on Crescent Fields at Huntingdon Valley, located in the northern Philadelphia suburb of Huntingdon Valley.  The community offers independent living, assisted living and memory care services. The number of units was not disclosed. Westrum Development Co., a leading residential real estate developer in the Mid-Atlantic region with senior living communities completed or planned across the Philadelphia metro area, partnered on the development. Distinctive Living currently operates 27 communities and has 20 under development via its development services platform, Distinctive Living …

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DevelopmentFloridaNews

Thrive Nears Completion of The International at Aventura in Metro Miami

by Jeff Shaw

AVENTURA, Fla. — Thrive Senior Living has neared completion of The International at Aventura, a seniors housing community in the Miami suburb of Aventura. Thrive plans to open the community’s welcome center in October, and begin accepting residents in early 2024. The International at Aventura features more than 160 suites built for a mix of independent living, assisted living and memory care. BridgeInvest, a private real estate lender, has joined forces with Rieber Development and Thrive Senior Living to finance the project. The International at Aventura will be a part …

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DevelopmentFeaturesFinanceIndustry ContentInvestmentOperationsVideosWebinars

Webinar: It’s the Dog Days of the Senior Living Investment Market — How to Find the Creativity Needed to Overcome Capital Markets Crunch

by Sarah Daniels

  The Sept. 14 webinar “It’s the Dog Days of the Senior Living Investment Market — How to Find theCreativity Needed to Overcome Capital Markets Crunch“ analyzed the outlook throughout today’s seniors housing market. Operations recovery, development, transaction trends, capital availability and pricing were all points of discussion for an hour-long conversation between a six-person panel of industry experts. Where are there opportunities and how is the seniors housing world adapting to the current environment? Click here to find out more about what experts are seeing in the capital markets landscape. Major …

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