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We Must Create Active Adult Environments within Senior Living Communities

by Jeff Shaw

By Jason Erdahl, principal, director of senior communities, Ankrom Moisan  Nursing and residential care facilities lost more than 145,000 workers over the last two years, according to the National Center for Assisted Living. Between staff shortages and increased budgetary concerns for staffing in the senior care market, a solution is necessary to support the growing aging population.  While staff members are still very much needed to assist those residing in these facilities, architects and designers can answer the call for help by creating spaces that aid residents in doing daily tasks on …

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CCRCDevelopmentFinanceNewsSouth Carolina

Ziegler Arranges $212.9M Bond Financing for Seafields at Kiawah Island in South Carolina

by Jeff Shaw

KIAWAH ISLAND, S.C. — Ziegler has arranged $212.9 million in bond financing for Seafields at Kiawah Island, located on Kiawah Island, a resort town south of Charleston. The borrower is Kiawah Life Plan Village Inc. (KLPV), a South Carolina nonprofit corporation that was formed on Dec. 7, 2020, to develop, own, and operate a continuing care retirement community on approximately eight acres. The community will feature 90 independent living units and 16 assisted living units.  Seafields is located adjacent to Freshfields Village, which is an open-air pedestrian village with a …

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CCRCDevelopmentIndependent LivingNewsNorth Carolina

LCS Completes Phase I of $75M Expansion at WhiteStone CCRC in Greensboro, North Carolina

by Jeff Shaw

GREENSBORO, N.C. — Life Care Services (LCS) has completed the first phase of a $75 million expansion project at WhiteStone, a continuing care retirement community in Greensboro. LCS manages the Masonic and Eastern Star community. This phase of the expansion added 67 one- and two-bedroom independent living units to the property. In addition, the Care and Wellness Center renovations include a rehabilitation gym, courtyard and gardens, and enhanced salon and spa. In Guilford County, more than 16 percent of the population is currently made up of seniors, and that number …

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CCRCDevelopmentIllinoisIndependent LivingNews

Lifespace Completes Independent Living Renovation at Oak Trace in Downers Grove, Illinois

by Jeff Shaw

DOWNERS GROVE, Ill. — Lifespace has completed renovations to the independent living building at Oak Trace, a continuing care retirement community in Downers Grove, approximately 20 miles west of Chicago. The renovations were part of a $112 million full-campus redevelopment. The first phase of the project occurred in 2019, when Oak Trace opened its new Health and Wellness Center offering assisted living, memory care rehabilitation and skilled nursing. It was named among the Best Nursing Homes by U.S. News & World Reportfor 2022-2023. The latest phase, completed last week, features renovated shared …

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Active AdultDevelopmentMinnesotaNews

Goodman Group Breaks Ground on 70-Unit Expansion at The Lakes at Stillwater in Minnesota

by Jeff Shaw

STILLWATER, Minn. — The Goodman Group has broken ground on Sandhill Shores, the third phase of construction at The Lakes at Stillwater in Stillwater, located along the Wisconsin border east of Minneapolis-St. Paul. Sandhill Shores offers 70 one- and two-bedroom luxury apartments for residents over age 62.  The project is scheduled for completion in summer 2024.

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DevelopmentFloridaMemory CareNews

Alta Acquires Newly Constructed Memory Care Community in North Palm Beach, Florida

by Jeff Shaw

PALM BEACH, Fla. — Alta Senior Living has acquired Palm Beach Memory Care, a newly constructed 60-unit memory care community located in North Palm Beach.  The community opened with 20 percent of the units already pre-leased. It is strategically located near Alta Senior Living’s regional office that shares space with restaurant tenant, DeSano Pizza. Dan Baker with JLL arranged the sale. The seller and price were not disclosed.

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Assisted LivingDevelopmentFinanceNew YorkNews

Greystone Provides $25.2M Construction Financing for Mansion-to-Seniors Housing Conversion in Bay Shore, New York

by Jeff Shaw

BAY SHORE, N.Y. — Greystone has provided $25.2 million in HUD financing for the conversion of a historic mansion in the Long Island hamlet of Bay Shore into an assisted living and memory care community. The project owners, Charles Ferraro and Nicholas Racanelli, recognized the south shore market as being underserved with quality assisted living and memory care services, and developed a plan to reimagine the original Gulden family homestead, Netherbay, into a state-of-the-art care facility that preserves the character of the 1800s mansion and estate grounds. The Gulden family …

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Affordable HousingDevelopmentNew YorkNews

Douglaston Development Completes 188-Unit Phase I of Affordable Project in the Bronx

by Jeff Shaw

NEW YORK CITY — Douglaston Development has completed Phase I of a two-phase affordable seniors housing project in the Bronx. Located at 2856 Webster Ave., the 12-story, 188-unit building is adjacent to The New York Botanical Garden’s (NYBG) 250-acre grounds. Units are available to residents earning up to 50 percent of the area median income. Fordham Bedford Community Services will provide on-site social services. The building features 12,000 square feet of ground-floor retail space leased to Cherry Valley Marketplace, a longstanding neighborhood grocery staple. Phase II of the two-phase project, …

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Affordable HousingDevelopmentFinanceKeyBankNewsOhio

KeyBank Provides $9.9M Loan for Affordable Housing Conversion in Cleveland Heights, Ohio

by Jeff Shaw

CLEVELAND HEIGHTS, Ohio — KeyBank Community Development Lending and Investment (CDLI) has provided $9.9 million in Low-Income Housing Tax Credit (LIHTC) equity to finance the conversion of the Margaret Wagner Senior Apartments in Cleveland Heights to 80 low-income seniors housing units.  The development will create 20 new apartments through the adaptive re-use of the first floor of Margaret Wagner House and preserve 60 apartments on the upper floors. Built in 1960 as a nursing home by the Benjamin Rose Institute on Aging, the facility offers HUD 202 PRAC subsidy for …

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Affordable HousingDevelopmentNew JerseyNews

Walters Completes 150-Unit Cornerstone at Branchburg Affordable Community in New Jersey

by Jeff Shaw

BRANCHBURG, N.J. — Walters has opened Cornerstone at Branchburg, a LEED-certified community featuring 150 premium age- and income-restricted housing units in Branchburg, approximately 35 miles west of Staten Island.  Situated on nearly 12 acres in Somerset County, the two-building development offers one- and two-bedroom apartments ranging from approximately 700 to 900 square feet.  Cornerstone at Branchburg apartments are available to residents whose incomes are at or below 60 percent of the area’s median income. Rental rates are based on the renter’s gross annual income, according to the rent/income requirements chart.

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