Development

MIAMI — Multifamily operator Greystar has purchased a 0.9-acre development site across from the Dadeland Mall in Miami’s Kendall neighborhood for $10.3 million. The company plans to develop a 216-unit active adult community on the site.

DOVER, N.H. — Cushman & Wakefield has arranged $15.1 million in financing for LCB Senior Living, which will use the funds to help build Residence at Silver Square, a 76-unit independent living, assisted living and memory care community in Dover, approximately 70 miles north of Boston.

HENDERSONVILLE, Tenn. — Ryan Cos. US Inc. and LCS have announced plans to build Clarendale of Hendersonville, a $40 million independent living, assisted living and memory care community in the Nashville suburb of Hendersonville.

MASON CITY, Iowa — Anchor Housing Development has completed construction of Legacy Manor of Mason City II, a 48-unit affordable seniors housing community, in Mason City, approximately 120 miles north of Des Moines.

The U.S. economy may be stuck in low gear, but tactical and targeted growth strategies can produce outsized returns in the seniors housing space, according to a panel of property owners and operators who spoke during France Media’s InterFace Seniors Housing Midwest conference. The event, which took place June 21 at The Westin Chicago River North hotel, attracted 265 attendees from the seniors housing industry.

MOBILE, Ala. — Somerby Senior Living, a Birmingham-based owner/operator, has broken ground on a fitness and wellness center at Somerby of Mobile, the company’s continuing care retirement community in Mobile.

MONUMENT, Colo. and FRISCO, Texas — Bethesda Senior Living Communities, a Colorado Springs-based nonprofit developer and operator, has broken ground on Bethesda Gardens Monument, a 60-unit assisted living and memory care community in the Colorado Springs suburb of Monument.