RICHMOND, Va. — Watercrest Senior Living Group and joint venture partner Harbert Seniors Housing Fund II have completed Watercrest Richmond Assisted Living and Memory Care. The community features 76 assisted living units and 22 memory care units in Richmond. EMJ Corp. was the builder, while Trustmark Bank provided financing. This is the first senior living development project that Watercrest and Harbert Seniors Housing Fund II have jointly developed.
NEW ROCHELLE, N.Y. — Monarch Communities has named Paul Ataide as executive director for Monarch Coopers Corner, a senior living community in New Rochelle, just north of New York City proper. In this position, he is responsible for day-to-day community operations. Monarch Coopers Corner is nearing completion and is scheduled to open early 2023. Ataide previously was executive director at a senior living community in Westchester County, New York. He also served as associate executive director in Massachusetts. He brings over 15 years of healthcare experience to his new position. …
CONROE, Texas — Grace Management has broken ground on The Lakes at Woodhaven Village, an active adult community in Conroe, a suburb of Houston. The 130,000-square-foot community will feature 115 units and is scheduled to open in spring 2024. The project is being developed on a five-acre plot adjacent to the 2,000-acre Grand Central Park master-planned community. Project partners include developer Padua Realty Co. and affiliated construction company Dorado Builders, Grace Management, Investwell Architects, interior design firm Lizabeth Jones Interior Design and Jordan and Skala Engineers. The community will complement …
MEMPHIS, Tenn. — Blueprint Healthcare Real Estate Advisors has brokered the sale of a seniors housing community in Memphis. Built in the late 1960s, the community rises 11 stories and features 110 independent living units and 55 assisted living units. A publicly traded REIT sold the community as a non-core asset. The buyer was Elevation Financial Group, which plans to convert the community into an affordable housing community for seniors. The price was not disclosed.
ATLANTA –– Jamestown has released its plans to develop Signal House, a 21-story active adult community in Atlanta. The property will be located adjacent to Ponce City Market, a massive mixed-use redevelopment of a former Sears, Roebuck & Co. store and warehouse. The property is adjacent to the Atlanta BeltLine rails-to-trails project in the city’s historic Old Fourth Ward neighborhood. Plans call for 162 units reserved for residents age 55 and older. The project is scheduled for completion in the third quarter of 2023. “Continuing Ponce City Market’s legacy of …
ELON, N.C. — Ziegler has arranged $58.1 million in bond financing for Twin Lakes Community, a continuing care retirement community (CCRC) in Elon, approximately midway between Greensboro and Durham. Twin Lakes sits on approximately 215 acres of land. It first opened in 1983 and currently operates 434 independent living units, 36 assisted living units, 32 memory care units and 104 healthcare units. It ranks as the 28th largest nonprofit single-campus senior living organization in the nation, according to the 2022 LeadingAge-Ziegler 200. Having recently completed construction of a replacement nursing …
MIAMI — Leading Miami-based commercial real estate owners and developers AJP Ventures and Mas Group, along with equity partner OCTA, have completed construction of The Contemporary, a luxury assisted living community in the Westchester neighborhood of Miami. The developers have planned a ribbon-cutting ceremony for Jan. 26 to officially open the doors. Charter Senior Living will operate The Contemporary, which features a mix of one- and two-bedroom units on a six-acre campus. The community is located on the same campus as MedSquare Place, a Class A medical office building also …
LA GRANGE PARK, Ill. — Ziegler has arranged $99.9 million in bond financing for Plymouth Place. The continuing care retirement community is located in La Grange Park, a village approximately 13 miles west of downtown Chicago. Plymouth Place features 182 independent living units, 52 assisted living units, 26 memory care units and 82 skilled nursing beds. Plymouth Place was incorporated in 1939 and is located on approximately 18.6 acres. The Illinois Finance Authority issued the bonds, which will be used for an expansion at the community. Known as The Arboretum …
In an uncertain time for the seniors housing industry, the “What Will 2023 Hold for Seniors Housing Investment & Acquisition Activity?” webinar focused on what’s influencing the landscape now and what is likely to affect it in the near future. The Dec. 8 panel discussion, hosted by Seniors Housing Business and sponsored by Valuation & Information Group, delved into tough topics like wages and staffing; inflation; the costs of debt and equity; government reimbursement; and other economic factors to illuminate what we can expect in 2023. Tune in …
AUSTIN, Texas — A partnership between Minneapolis-based developer Ryan Cos. and locally based investment and management firm Castletop Capital has broken ground on a 222-unit seniors housing project in Austin. Grand Living at The Grove will be located within a larger mixed-use development and offer 186 independent living and assisted living units, as well as 36 memory care units. Residences will range in size from 450 to 1,600 square feet. The five-story community will total approximately 348,353 square feet. Completion is slated for late 2024. According to ESRI, Austin’s age- …
