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Active AdultDevelopmentNew JerseyNews

Coldwell Banker Opens Expansion at Paris Square Active Adult Community in Northvale, New Jersey

by Jeff Shaw

NORTHVALE, N.J. — Coldwell Banker has opened The Monroe and Madison Building at Paris Square, a 10-building, 111-unit active adult condominium community in Northvale, approximately 18 miles north of Manhattan. Anne Van Dyke from Coldwell Banker Realty’s Closter/Alpine Office and Coldwell Banker Realty New Homes announced the new building’s completion, and will also lead sales and marketing efforts. Prior to Coldwell Banker Realty New Homes’ involvement, Paris Square had undergone a 15-year construction process that had only resulted in the completion of half of its planned units. Years of no …

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DevelopmentGeorgiaNews

Galerie Living Receives Approval for 500-Unit Corso Druid Hills Development at Emory University in Atlanta

by Jeff Shaw

ATLANTA — Locally based Galerie Living has received approval from DeKalb County commissioners for its redevelopment of a portion of Emory University’s Briarcliff campus in Atlanta. Galerie Living will develop and operate a 500-unit seniors housing community that will be known as Corso Druid Hills. The community will feature independent living options such as cottages and apartments in one- and two-bedroom layouts, as well as assisted living and memory care units. Emory University entered into the lease agreement with Galerie earlier this year. More details on the project are scheduled …

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Affordable HousingDevelopmentFloridaNews

CREI Holdings Plans 316-Unit Affordable Housing Expansion in Sweetwater, Florida

by Jeff Shaw

SWEETWATER, Fla. — CREI has received approval from the Sweetwater City Commission to construct Li’l Abner III, an affordable seniors housing expansion in Sweetwater, a suburb west of Miami. The project will rise next to its sister buildings, Li’l Abner I and II, and add 316 units to the complex. “CREI Holdings is committed to providing affordable and workforce housing for seniors who are being squeezed out of the Miami-Dade market by skyrocketing rents,” says Raul Rodriguez, managing member of CREI Holdings. “We decided to build Li’l Abner III after …

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Affordable HousingDevelopmentNewsTexas

Palladium Completes 122-Unit Affordable Seniors Housing Project in Garland, Texas

by Jeff Shaw

GARLAND, Texas — Locally based developer Palladium USA has completed a 122-unit mixed-income seniors housing project in Garland, a northeastern suburb of Dallas. Designed by HEDK Architects, the development consists of 92 units reserved for renters age 62 and above who earn 60 percent or less of the area median income. The remaining 30 units will be rented at market rates.

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DevelopmentFrom The Magazine

Market Studies Can Make, Break Projects

by Jeff Shaw

With ground-up construction increasingly fraught with risk, savvy developers leverage data and consumer research to their advantage. By Jeff Shaw Developers and investors already know that a market report is one of the most crucial pieces of the “go” versus “no-go” decision on whether to build a seniors housing community. But those studies — which factor in everything from demographics and cost of living to competition in the marketplace to the difficulty of navigating the entitlement process — have become even more important in recent years as new headwinds buffet …

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DevelopmentFrom The Magazine

Smart Design Pays Dividends

by Jeff Shaw

From sustainable building features to family-friendly dining venues to comfortable staff lounges, today’s architects provide project blueprints that both inspire and pencil out. By Jeff Shaw Seniors housing as an industry is always changing, but the pace the past few years has been especially fast. From the temporary and permanent changes during the COVID-19 pandemic to the national labor shortage hitting this sector particularly hard — all against the backdrop of a massive wave of demand coming from the baby boomers in the near future — there are plenty of …

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DevelopmentIndustry Voices

Renovating Occupied Assets Requires a Gentle Hand

by Jeff Shaw

Developers must understand, respect and engage with residents to succeed. By Amy Fahey It is no secret there is a seniors housing shortage in this country. Given the lack of affordable land in many areas for ground-up construction, many developers opt to breathe new life into their existing facilities with extensive renovations.  Of course, the most difficult method of tearing a building apart and putting it back together is to do so while people live in it, especially elderly folks. Clearly, renovating an occupied seniors housing facility is a complex …

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DevelopmentNewsTexas

MedCore Partners, ACRON USA Start Phase II of Spring Cypress Senior Living in Cypress, Texas

by Jeff Shaw

CYPRESS, Texas — MedCore Partners and ACRON USA have started the second phase of construction at Spring Cypress Senior Living in Cypress, a northwest suburb of Houston. Phase I, co-developed with Houston-based The National Realty Group, opened in 2018 and offers 80 units of assisted living and memory care. Phase II represents the addition of 138 active adult and independent living residences to include apartments, cottages, and townhomes, plus a memory care expansion of 12 units. At completion, the community will contain 230 units of luxury senior living on the …

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ArizonaCCRCDevelopmentFinanceNews

Ziegler Arranges Bond Financing for La Posada CCRC Owner Near Tucson

by Jeff Shaw

ORO VALLEY, Ariz. — Ziegler has arranged bond financing for La Posada, a continuing care retirement community (CCRC) owner in metro Tucson. La Posada was incorporated in 1996 to acquire the CCRC known as La Posada at Park Centre in Green Valley, approximately 30 miles south of Tucson. Originally constructed in 1987, Park Centre has grown to include 490 independent living apartments, 34 freestanding Park Centre homes, 17 freestanding Pavilion homes and 135 assisted living apartments. La Posada at Pusch Ridge will be the second location for this emerging system …

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Affordable HousingDevelopmentNew JerseyNews

Alpert Group Breaks Ground on 40-Unit Affordable Community in Teaneck, New Jersey

by Jeff Shaw

TEANECK, N.J. — The Alpert Group, along with its nonprofit partner Geriatric Services Inc., has broken ground on a 40-unit affordable housing community for seniors in Teaneck, just across the Hudson River from Manhattan and The Bronx. The community will rise five stories, and the mostly one-bedroom units are reserved for those over age 62 meeting income requirements. The project will replace a vacant municipal facility currently at the site. Rents will range from $336 per month to $1,451 per month, depending on the size of the unit and the …

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