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DevelopmentNewsSouth Carolina

SRI Opens 166-Unit Indigo Carolina Forest in Myrtle Beach, South Carolina

by Jeff Shaw

MYRTLE BEACH, S.C. — SRI Management LLC, in conjunction with ownership partners Compass Living and Bourne Financial Group, have opened Indigo Carolina Forest in Myrtle Beach. Situated on nearly nine acres in the heart of the Carolina Forest, the community features 166 units of independent living, assisted living and memory care. “This community is the second seniors housing development for our company, both poised within the thriving areas seniors want to call home,” says Bob Godard, chief executive officer, Compass Living. The community spans 189,500 square feet.

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Affordable HousingDevelopmentMinnesotaNews

CommonBond Begins Construction of The Lumin Affordable Community in St. Paul, Minnesota

by Jeff Shaw

ST. PAUL, Minn. — CommonBond Communities has started construction of The Lumin, which will provide 60 units of housing for seniors in the Highland Bridge development in Saint Paul. Units will be restricted to people age 55 and older who earn 30 percent or less of the area median income (AMI). A project-based Section 8 subsidy allows residents to pay 30 percent of their income in rent. Seven units will be reserved for formerly homeless seniors. The project is scheduled for completion in fall of 2023. The Lumin is the …

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CCRCDevelopmentFinanceNewsNorth Carolina

Ziegler Arranges $95.6M Financing for The Forest at Duke in Durham, North Carolina

by Jeff Shaw

DURHAM, N.C. — Ziegler has arranged $95.6 million in bond financing for The Forest at Duke, a continuing care retirement community in Durham. The community sits on 47 acres just south of Duke University. First opened to residents in 1992, the property serves over 360 residents across 154 apartments, 81 cottages (235 total independent living units), 32 assisted living units and 58 licensed skilled nursing beds. To address the changing needs of existing and future residents, The Forest at Duke adopted a strategic plan that included two phases. Phase I, …

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Active AdultCompany NewsDevelopmentNewsPeople

Arden 55+ Living Promotes Natalie Edeburn to Director of Operations

by Jeff Shaw

CHARLOTTE, N.C. — Arden, a Charlotte-based company developing 55+ active adult living communities in the Southeast, has promoted Natalie Edeburn to the role of director of operations. In this inaugural position, she will seek to establish best-in-class methodologies to support operational performance and develop company policies and procedures. Edeburn joined Arden earlier this year with over 25 years of real estate and property management industry experience throughout the Southeast. In her new role, she will be actively involved in all aspects of the assets and oversee the entire active adult …

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DevelopmentFloridaNews

Joint Venture Plans 197-Unit Fellowship at Wildlight in Nassau County, Florida

by Jeff Shaw

YULEE, Fla. — The Fellowship Family and Ambling Property Investments have unveiled plans for Fellowship at Wildlight, a 197-unit seniors housing community within the master-planned community of Wildlight. The development is located in Yulee, between Jacksonville and the Georgia border. Fellowship at Wildlight will feature 24 memory care units, 48 assisted living units, 125 independent living units and six cottages on nearly 16 acres of land within the first phase of the Wildlight development. Sitework is slated to begin in 2023 with anticipated completion in 2025. Fellowship at Wildlight pre-leasing …

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CCRCDevelopmentFloridaNewsPeople

Convivial Life Appoints Lisa Cummins as Executive Director at The Cabana at Jensen Dunes in Florida

by Jeff Shaw

JENSEN BEACH, Fla. — Convivial Life has appointed Lisa Cummins as executive director at The Cabana at Jensen Dunes in Jensen Beach, on the Atlantic Coast in South Florida. She will oversee the daily operations of The Cabana and help guide the 22-acre campus into a future life plan community. Convivial Life’s plans include 170 new independent living residences, a new clubhouse and other support services that will complement The Cabana. Cummins brings over 23 years of experience in leading senior living organizations, including assisted living communities, life plan communities …

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Affordable HousingDevelopmentNew YorkNews

Selfhelp Opens Affordable Community on Long Island

by Jeff Shaw

WYANDANCH, N.Y. — Selfhelp has opened 11 Park Drive, an affordable housing community for seniors in the Long Island hamlet of Wyandanch. The developer’s SHASAM service model will provide onsite social services. The property is located adjacent to a Long Island Railroad stop, as well as a larger affordable housing development named Wyandanch Village. The property is Selfhelp’s 16th affordable housing residence. The number of units and income requirements were not disclosed.

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Affordable HousingDevelopmentNewsUtah

TWG Plans $13M Residences at Fireclay Affordable Community in Murray, Utah

by Jeff Shaw

MURRAY, Utah — TWG has unveiled plans for Residences at Fireclay, a $13 million affordable seniors housing community in Murray. Construction is slated to begin this year, with the first units available in 2025. Located at 152 W. 4250 South, the four-story building will feature 40 one-bedroom apartments for seniors age 62 and older. The units are also reserved for those earning up to 50 percent of the area median income, with a preference for military veterans. Additionally, the project includes four units reserved for disabled seniors and five units …

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Affordable HousingDevelopmentNewsTexas

Hunt Capital Provides $13.6M in LIHTC Equity for Affordable Seniors Housing Project in Temple, Texas

by Jeff Shaw

TEMPLE, Texas — Hunt Capital Partners has provided $13.6 million in Low-Income Housing Tax Credit (LIHTC) equity for Mariposa Scott & White, a 140-unit affordable seniors housing project in the Central Texas city of Temple. The development will consist of four three-story buildings on a 4.5-acre site. The majority (108) of the units will be rented to households earning up to 30, 50 or 60 percent of the area median income, and the remaining 32 units will be rented at market rates. Amenities will include a pool, fitness center, business …

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Affordable HousingDevelopmentIndianaNews

Merchants Capital Provides $15.5M HUD-Insured Loan for Construction of Affordable Seniors Housing Property in Indiana

by Jeff Shaw

EAST CHICAGO, Ind. — Merchants Capital has provided a $15.5 million HUD 221(d)(4) loan for the construction of Lakeshore Manor in East Chicago. Designed to replace the former John B. Nicosia senior building, the development will consist of two four-story buildings that will house 206 units. The residences will be reserved for seniors age 62 and older who earn up to 60 percent of the area median income. Merchants also structured a $13.5 million equity bridge loan through its parent company, Merchants Bank of Indiana. Cinnaire, the property’s equity investor, …

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