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DevelopmentFloridaNews

Watermark, Zom Open 154-Unit Community in West Palm Beach, Florida

by Jeff Shaw

WEST PALM BEACH, Fla. — Watermark Retirement Communities and Zom Senior Living have opened The Watermark at West Palm Beach, a 154-unit seniors housing community in the South Florida city of West Palm Beach. The community is the latest addition to Watermark’s luxury Élan Collection of communities. “West Palm Beach offers everything today’s sophisticated seniors want, including easy access to travel and proximity to dining, shopping, arts, culture and world-class medical care,” says David Freshwater, chairman of Watermark Retirement Communities. Spanning over 245,000 square feet, The Watermark at West Palm …

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Assisted LivingDevelopmentFloridaNews

SRI Management, Rimrock Cos. Complete The Canopy at Duval Station in Jacksonville

by Jeff Shaw

JACKSONVILLE, Fla. — SRI Management, in conjunction with Jacksonville-based real estate developer Rimrock Cos., has opened The Canopy at Duval Station, a seniors housing community in Jacksonville. The property offers assisted living and memory care services. The number of units was not disclosed. The community’s executive director is Leslie Nostrant.

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CaliforniaDevelopmentMemory CareNews

MorningStar Completes Renovations at Community in Pasadena, California

by Jeff Shaw

PASADENA, Calif. — MorningStar Senior Living has reopened its 144-unit Pasadena community. Soon after assuming management in December 2020, MorningStar, a Denver-based senior living owner and operator, began a complete renovation of the four-story community. “The extensive renovation of MorningStar Senior Living of Pasadena recognizes the desire for retirees to remain in the neighborhoods they love, but with options for contemporary living,” says Ken Jaeger, MorningStar founder/CEO. “This redesign reflects our substantial experience in taking senior living innovation to the next level while continuing to meet the pressing need for …

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Assisted LivingDevelopmentFinanceFloridaNews

Capital Funding Group Provides $27.2M Loan for Seniors Housing Conversion Project in South Florida

by Jeff Shaw

SUNRISE, Fla. — Capital Funding Group has provided a $27.2 million construction loan for the conversion of a partially completed hotel in South Florida to a 191-unit assisted living community. The property is located at 3003 N. University Drive in Sunrise, about 10 miles west of Fort Lauderdale. The borrower, YMP Real Estate Management, will use $7.4 million of the financing to complete the shell construction. YMP will also manage the seniors housing community when it opens. The construction timeline was not disclosed.

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Active AdultDevelopmentMassachusettsNews

Habitech Acquisitions to Develop 141-Unit Active Adult Community in Stow, Massachusetts

by Jeff Shaw

STOW, Mass. — Massachusetts-based developer Habitech Acquisitions has acquired 37.3 acres in Stow, about 30 miles west of Boston, with plans to construct a 141-unit active adult community. Known as The Cottages at Wandering Pond, the project will feature a recreation area with walking trails, as well as a clubhouse, pool, activity lawn and a pickleball court. Jake Parsons of SVN | Parsons Commercial Group | Boston represented the seller, EFMC Associates, in the land deal and procured Habitech Acquisitions as the buyer. A construction timeline was not disclosed.

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CCRCDevelopmentFinanceNewsTexas

Ziegler Arranges $76M Bond Financing for Brazos Presbyterian Homes in Texas

by Jeff Shaw

HOUSTON — Ziegler has arranged $76 million in bond financing for Brazos Presbyterian Homes (BPH), a nonprofit owner-operator based in Houston. The tax-exempt, draw-down bonds are supported by a three-bank syndicate comprised of Amegy Bank, Hancock Whitney and Trustmark. BPH owns and operates three continuing care retirement communities in Texas: Brazos Towers at Bayou Manor, The Hallmark and Longhorn Village. The bonds will fund an expansion project at Longhorn Village, refinance bonds from 2013 and pay the costs of issuance. The expansion project will add 48 independent living apartments to …

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CaliforniaDevelopmentNews

Confluent, Concord, MorningStar Open 166,000 SF Community in Mission Viejo, California

by Jeff Shaw

MISSION VIEJO, Calif. — Project partners MorningStar Senior Living, Confluent Senior Living and Concord Development Partners have completed MorningStar of Mission Viejo. The 166,000-square-foot, 132-unit senior living community is located in the Orange County city of Mission Viejo. The developers broke ground in March 2021. The community offers studio, one- and two-bedroom suites as well as 126 below-grade parking spaces. The property features 13,809 square feet of outdoor space including a pool, dog run, resident garden and al fresco dining. The project introduces Whole Health Standards, a new criteria under …

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Assisted LivingDevelopmentMassachusettsNews

Benchmark Plans $13M Renovation at Evans Park at Newton Corner in Massachusetts

by Jeff Shaw

NEWTON, Mass. — Benchmark Senior Living has planned a $13 million renovation project at Evans Park at Newton Corner in the Boston suburb of Newton. The project will modernize the 30-year-old assisted living and memory care community. It is scheduled for completion in early 2024. The project is also honoring the building’s history, which dates back to 1905, by adding external lighting to highlight unique architectural features. Built by famed developer Warren Evans, “The Evans,” as it was first known, was considered to be the most beautiful apartment complex in …

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Assisted LivingDevelopmentNew JerseyNews

Sunrise Opens 86,000 SF Community in Livingston, New Jersey

by Jeff Shaw

LIVINGSTON, N.J. — Sunrise Senior Living has opened the doors on Sunrise of Livingston in Livingston, approximately 20 miles west of Manhattan. The three-story property totals 86,000 square feet of space for assisted living and memory care. Although the number of units was not disclosed, Sunrise said the property can serve “more than 120 residents.” Lantz-Boggio Architects designed the property, which Wohlsen Construction Co. built.

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