Thursday, July 17, 2025
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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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Affordable HousingCaliforniaDevelopmentNews

Standard Communities Leads Public-Private Development of $55M Affordable Community in San Ramon, California

by Jeff Shaw

SAN RAMON, Calif. — Standard Communities has released plans to lead a public-private partnership in the ground-up development of Aspen Wood, a $55 million affordable seniors housing community in San Ramon, approximately 20 miles east of San Francisco Bay. Aspen Wood will provide 123 units of affordable housing for seniors with incomes between 30 and 60 percent of the area median income. Aspen Wood will be built on a currently vacant site of 1.4 acres. Amenities at the 130,000-square-foot community will include a community room, recreation deck/courtyard, fitness center, business …

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DevelopmentFeaturesFinanceNews

CBRE Research: Cost of New Development Has Increased 17.8% in Last Two Years

by Jeff Shaw

DALLAS — Seniors housing development costs have risen sharply over the past two years, with labor and land the primary drivers of higher expenditures, according to new research from CBRE. The average cost of a seniors housing development has increased by 17.8 percent since 2020 to $317,400 per unit, or $333 per square foot. Dallas-based CBRE derived data from the valuations of 142 seniors housing developments scheduled for delivery. The properties in the data set included independent living, assisted living and memory care communities. Average returns (stabilized net operating income …

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DevelopmentIndependent LivingNewsTexas

Braintree, Cadence McShane Break Ground on 163-Unit Aviva Terranova in Spring, Texas

by Jeff Shaw

SPRING, Texas — A joint venture between Braintree Properties and Cadence McShane has broken ground on Aviva Terranova Independent Senior Living Community in Spring, a suburb of Houston. Plans call for a 140,000-square-foot campus comprising four-story, wood-framed structures and 163 units. Additional features include a fitness center, pool, theater, library, Cyber Café and a parking garage with 215 parking spaces. The project is scheduled for completion in late 2023.

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CCRCDevelopmentIndependent LivingKansasNews

Erickson Opens Independent Living Expansion at Tallgrass Creek in Overland Park, Kansas

by Jeff Shaw

OVERLAND PARK, Kan. — Erickson Senior Living has opened Santa Fe Ridge, an independent living expansion at its Tallgrass Creek continuing care retirement community. Located on 65 acres in the Overland Park suburb of Kansas City, Tallgrass Creek now features 96 new units. In addition to the new residences, Santa Fe Ridge features an indoor pickleball court and a new restaurant. The building is named for the historic Santa Fe Trail, which opened in 1821 and served as the most important route to the West before the era of the …

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Shoop KeyBank Hints of Recovery
Content PartnersDevelopmentFeaturesIndustry ContentInvestmentKeyBank

Seniors Housing Grinding through Difficult Environment, But Hints of Recovery Emerge

by Sarah Daniels

The health of seniors housing occupancy continues to recover, albeit slowly, amid challenges that refuse to relent. Rather than a one-two punch, the sector has absorbed a one-two-three combination: Occupancy-reducing COVID landed the first blow, labor shortages and inflating operational expenses delivered the second, and rising interest rates scored with the third, declares Charlie Shoop, a senior vice president with KeyBank’s healthcare group. A slumping economy may add a kick to the teeth for good measure. “There is a lot of noise in seniors housing financials right now, and few …

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CCRCDevelopmentFinanceFloridaNews

Ziegler Arranges $30M Bond Financing for Vicar’s Landing CCRC Expansion in Ponte Vedra Beach, Florida

by Jeff Shaw

PONTE VEDRA BEACH, Fla. — Ziegler has arranged $30 million in bond financing for Vicar’s Landing, a continuing care retirement community in Ponte Vedra Beach, approximately 20 miles southeast of Jacksonville. The community occupies a 24.3-acre site within Sawgrass, a 4,800-acre private resort and residential community. Sawgrass includes four golf clubs including TPC Sawgrass, the Sawgrass Marriott Resort, a shopping center and other residential and recreational amenities. Vicar’s Landing currently features 227 independent living units, 38 assisted living apartments and 60 skilled nursing beds. The financing will fund a Phase …

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CCRCDevelopmentNewsWashington

Emerald Communities Starts Expansion Project at Emerald Heights CCRC in Redmond, Washington

by Jeff Shaw

REDMOND, Wash. — Emerald Communities has started construction of an expansion project at Emerald Heights, a continuing care retirement community (CCRC) in the Seattle suburb of Redmond. The new building, named Courtyard, will rise three stories and feature 42 independent living units ranging in size from 826 to 1,726 square feet. Dean Kelly of the architecture firm Rice Fergus Miller, who worked on Emerald Heights’ previous expansion in 2014, led the design of the new building. The Courtyard will total 70,638 square feet plus a 35,703-square-foot underground parking structure. GLY …

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