HOLLAND, Mich. — Resthaven, a faith-based nonprofit owner-operator, has broken ground on The Farmstead by Resthaven in Holland, located by Lake Michigan west of Grand Rapids. The community will offer an undisclosed number of independent living and assisted living units on a 40-acre site near Van Raalte Park. The property accommodates a variety of residence styles, from single-family homes to duplexes to apartment buildings. Though all the standalone homes are reserved, there are still a small number of apartments available. The Farmstead has been in design and planning since early …
HEBRON, Ky. — Woda Cooper Cos. and Housing Services Alliance have completed Sparrow Ridge, an affordable seniors housing community in Hebron, just across the Ohio River from Cincinnati. The 96 units are reserved for residents over age 55 who earn between 30 and 80 percent of the area median income (AMI). Development costs were estimated at $18.9 million. The affordable development was made possible in part by $1.5 million in Low-Income Housing Tax Credits (LIHTCs) allocated by Kentucky Housing Corporation (KHC). Affordable housing investor CREA LLC purchased the tax credits …
BOYNTON BEACH, Fla. — Nonprofit developer Green Cay Life Plan Village Inc. has unveiled plans for a $250 million continuing care retirement community (CCRC) in Boynton Beach along the Atlantic Coast in South Florida. Green Cay has purchased the 15-acre site with plans for 170 independent living, 16 assisted living and 16 memory care units in a 340,000-square-foot building. The property is adjacent to Green Cay Nature Center. Independent living residences will range from one to three bedrooms; assisted living apartments will include studio to two-bedroom options; and memory care …
LONE TREE, Colo. — OZ Architecture has completed the design of The Reserve at Lone Tree, located within the RidgeGate master-planned community in Lone Tree. Experience Senior Living Development (ESLD), a NexCore company, is a partner on the project. The community will offer 124 independent living units in a nine-story building alongside 60 assisted living and 24 memory care units in an attached five-story building. The project is scheduled break ground in fourth-quarter 2022, with anticipated completion in 2024. Independent living units will be up to 1,930 square fee, while …
By Steven Leone and Richard C. Quinn, Spiezle Architectural Group Over the past several years, design trends have painted an interesting picture for future life plan communities that stray from what we have seen for decades. Life plan communities (previously known as continuing care retirement communities, or CCRCs) are nothing new. But with an older population growing and thriving, these life plan communities (LPCs) are shifting away from the traditional continuum of care-based models to a more independent version of health- and wellness-centric focus with little to no care. This …
GAINESVILLE, Fla. — Greystone has arranged $52.6 million in debt and equity construction financing for Discovery Place at Celebration Pointe in Gaineville. The community will feature 180 units of seniors housing. The type of care was not disclosed Cary Tremper and Matt Miller of Greystone originated the transaction on behalf of Discovery Senior Living.
GRAND FORKS, N.D. — Karen Dubrosky and Frank Hogan of the Minneapolis office of Colliers Mortgage and Colliers Securities, respectively, have closed a $10.9 million HUD loan for the acquisition and rehabilitation affordable housing portfolio in Grand Forks. Located near the Red River, which forms the border between Minnesota and North Dakota, the portfolio totals 182 units of affordable housing across three properties. University Square includes 60 multifamily units, Columbia Square East includes 50 seniors housing units and Columbia Square South includes 72 multifamily units. All units are covered by …
MADISON, Ala. — KIRCO has delivered and opened Madison Crossings, an independent living and memory care community in Madison, about 10 miles from downtown Huntsville. Phoenix Senior Living operates the community, which features an outdoor swimming pool, wellness center, dining experience, pub, beauty salon and spa, yoga studio, outdoor pickleball and bocce ball courts. Madison Crossings comprises 105 independent living apartments and 27 memory care residences. The property represents the 10th seniors housing facility in Alabama operating under the Phoenix Senior Living brand. KIRCO MANIX, a third-party construction services firm …
SCOTTSDALE, Ariz. — Revel Communities has completed construction of Revel Scottsdale and Revel Legacy, both independent living communities in Scottsdale. The properties are the 12th and 13th independent living communities the brand has opened since launching in 2018, and its first two in Arizona. Revel Scottsdale offers 157 units near the bustling shops and dining of Old Town Scottsdale, with rents starting at $3,695 per month. Revel Legacy offers 169 units among the mountain views of North Scottsdale with rents starting at $3,795 per month.
ST. PETERS, Mo. — IMPACT Strategies has completed interior renovations at The Watermark at St. Peters, an independent living facility in St. Peters, approximately 30 miles northwest of St. Louis. The three-story, 184-unit community sits on 13 acres The renovation of the interior of the building included refreshed spaces for the exercise room, activity room, indoor pool area, locker room, private theater, library and family room on the first floor as well as new carpet, specialty trim and paint throughout the corridors on all three floors. The project also involved …