Development

PORT ROYAL, S.C. – Big Rock Partners, a real estate investment management and development firm, and joint venture partner Millennium Real Estate Group LLC plan to begin construction in early 2016 on a $25 million upscale senior living rental development in Port Royal, just minutes from Hilton Head Island in South Carolina’s Lowcountry region.

ACWORTH, Ga. — Construction will begin April 3 on Celebration Village Acworth with plans to open the 16.5 acre seniors housing community in May 2016. The community includes 114 independent living apartments, 44 apartment homes, 55 assisted living units and 31 memory care apartments.

HIXSON, Tenn. — Dominion Senior Living has planned construction on a 47,000-square-foot, $8 million assisted living and memory care senior living community. Dominion acquired the property from Abba’s House and the church will be a partner.

PEORIA, Ill. — Good Neighbor Care — current operator of the Grand Victorian of Pekin and the Grand Victorian of Washington — plans to develop a new senior living community in North Peoria near Orange Prairie with Wilkinson Development LLC.

A newly released survey of seniors housing developers and operators reveals the overwhelming majority plan to focus more on new construction and renovation than acquisitions in 2015. One major reason: record-setting sales prices.

KISSIMMEE, Fla. — HJ Sims, an investment bank and brokerage firm, is financing Tuscan Isle, a seniors housing community in Kissimmee. Tuscan Isle will be comprised of 120 independent living units, 56 assisted living units and 36 memory care units.