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DevelopmentIndustry Voices

Three Hospitality-Inspired Approaches to Senior Living

by Jeff Shaw

By Rich Molfetta, chief operating officer, LIVIA Health & Senior Living Demand for senior living is on the upswing. A recent report from the National Investment Center for Seniors Housing & Care (NIC) found that 78 percent of the senior living units that were vacated during the pandemic have been reoccupied. In second-quarter 2022, occupancy reached 81.4 percent, up more than 300 basis points from the pandemic low of 78 percent in second-quarter 2021. Census still remains a challenge for operators that are running their business with fewer residents than …

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AcquisitionsActive AdultAffordable HousingAssisted LivingDevelopmentFeaturesFinanceIndependent LivingIndustry ContentInvestmentOperationsPeopleSkilled NursingVideosWebinars

Webinar: Let’s Talk About the Outlook for Seniors Housing Investment and Finance

by Sarah Daniels

  Is there room for optimism in seniors housing? What does investor interest look like now? Learn about how interest rate increases are impacting seniors housing valuations, what a flight to quality means for different sectors, financing concerns and more. Watch the webinar here. Timestamps of major topics covered: (5:25) Impact of rising interest rates on seniors housing valuations (7:54) Effects broken down by sector: active adult, skilled nursing, assisted living (11:07) Financing in the current environment (13:21) Acquisition opportunities, plus deal flow and closing (18:10) Outlook for the market …

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Affordable HousingDevelopmentNewsOhio

Pennrose, NEST Open $13M John Arthur Flats LGBTQ-Friendly Affordable Community in Cincinnati

by Jeff Shaw

CINCINNATI — Northsiders Engaged in Sustainable Transformation (NEST) and Pennrose have opened John Arthur Flats, Cincinnati’s first LGBTQ-friendly affordable seniors housing community. Located in the Northside neighborhood, the development adds 57 affordable units for residents age 55 or older. The three-story, elevator-serviced building includes studio, one-, and two-bedroom apartments available for residents earning 30 percent to 60 percent of the area media income (AMI), with rents ranging from $444 to $1,212 per month. The new community helps meet the demand for inclusive, affordable housing in the region, where the National …

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DevelopmentIllinoisNews

Premier Senior Living Opens 92-Unit Revela at O’Fallon in Illinois

by Jeff Shaw

O’FALLON, Ill. — Premier Senior Living has opened Revela at O’Fallon in O’Fallon, an eastern suburb of St. Louis. The property totals 92 units of independent living, assisted living and memory care in an 89,000-square-foot building. St. Louis Design Alliance designed the project, which Poettker Construction built. Premier Senior Living is the operator.

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CCRCDevelopmentNewsVirginia

Erickson Opens $500M Avery Point CCRC in Short Pump, Virginia

by Jeff Shaw

SHORT PUMP, Va. — Erickson Senior Living has opened the doors on Avery Point, a continuing care retirement community in Short Pump, a suburb of Richmond. The community is situated on a 94-acre campus and currently features 216 units of independent living. A second phase currently under construction will add 107 more independent living units. Upon full build-out, plans call for 1,160 independent living units in addition to an on-site continuing care neighborhood offering assisted living, memory care and skilled nursing services. The property is Erickson Senior Living’s third in …

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DevelopmentFinanceNewsTennessee

CBRE Arranges Construction Financing for 12-Story Crestmoor at Green Hills in Nashville

by Jeff Shaw

NASHVILLE, Tenn. — CBRE has arranged an undisclosed amount of financing for construction of The Crestmoor at Green Hills in Nashville. A joint venture between Bridgewood Property Co. and Harrison Street are developing the property, which is slated to rise 12 stories on a one-acre plot in the Green Hills neighborhood. The development will feature 117 independent living units, 45 assisted living units and 29 memory care units. Aron Will and Tim Root of CBRE National Senior Housing arranged the five-year construction loan through a regional bank. Bridgewood’s wholly owned …

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DevelopmentIndependent LivingNewsWashington

Anthology Plans 127-Unit Independent Living Community in Edmonds, Washington

by Jeff Shaw

EDMONDS, Wash. — Anthology Senior Living has unveiled plans for Anthology of Edmonds, a 127-unit seniors housing community in Edmonds, a northern suburb of Seattle. The community totals 162,872 square feet across six floors and is Anthology’s first community to exclusively offer independent living. This project marks the sixth senior housing development that Anthology has started in the past 12 months. Harrison Street is an investment partner on the project. According to a recent report by the U.S. Census Bureau, almost 15 percent of the Snohomish County population has already …

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CCRCDevelopmentNewsNorth Carolina

Liberty Breaks Ground on Hayes Barton Place CCRC in Raleigh, North Carolina

by Jeff Shaw

RALEIGH, N.C. — Liberty Senior Living has broken ground on Hayes Barton Place, a seniors housing community in Raleigh. Scheduled to open in 2024, the property is just three miles northwest of the heart of downtown Raleigh. A continuing care retirement community, Hayes Barton Place will feature an undisclosed number of independent living, assisted living, memory care, skilled nursing and rehabilitation units. Project partners include Grubb Ventures, Williams Realty and Building CO., Brasfield & Gorrie, WithersRavenel, Clancy and Theys Co., LS3P and Liggett Design Group.

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Assisted LivingDevelopmentNevadaNews

MorningStar, Confluent Break Ground on 168-Unit Seniors Housing Development in Las Vegas

by Jeff Shaw

LAS VEGAS — MorningStar Senior Living and Confluent Senior Living have broken ground on MorningStar Senior Living at The Canyons, the joint venture’s first development in Nevada. Located in Las Vegas, the four-story, 196,000-square-foot community will feature 95 independent living, 49 assisted living and 24 memory care units. Common areas will include indoor and outdoor dining venues, a pool and spa, fitness center and clubroom terrace with views of the Vegas Strip and mountains to the west. Completion is slated for summer 2024. Confluent Senior Living, a subsidiary of Denver-based …

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Affordable HousingDevelopmentIllinoisNews

Skender Completes 100-Unit Historic Redevelopment Project in Maywood, Illinois

by Jeff Shaw

MAYWOOD, Ill. — Skender has completed construction of Maywood Supportive Living, an adaptive reuse seniors housing project in the Chicago suburb of Maywood. The 133,000-square-foot assisted living facility for low-income seniors features 100 units. Developer Celadon Partners hired Skender as general contractor to transform the former Central Baptist Home, which has been on the State of Illinois National Register of Historic Places since 2017. Skender stripped the historic building down to its structure to add modern amenities while taking care to preserve and restore its natural architectural detail. Built in …

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