Development

DevelopmentNewsWashington

Merrill Gardens Opens 123-Unit Community in Tacoma, Washington

by Jeff Shaw

TACOMA, Wash. — Merrill Gardens Senior Living has opened Merrill Gardens at Wright Park in the historic Stadium District in Tacoma. Merrill Gardens co-developed the property with Rush Development. The community features 115 independent living and assisted living apartments in studio, one- and two-bedroom layouts, as well as 18 memory care units. The main floor of the community features 2,600 square feet of retail space that includes an on-site urgent care clinic. Merrill Gardens will manage the senior living community and Rush will manage the retail space. The community mixes …

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Active AdultDevelopmentFinanceNewsVirginia

Northmarq Arranges $38.1M Construction Financing for 176-Unit Active Adult Community in Midlothian, Virginia

by Jeff Shaw

MIDLOTHIAN, Va. — Northmarq’s debt and equity team of Keith Wells, Hunter Wood, Reina Abboud, and Mike Lowry have arranged a $38.1 million loan for the construction of Lake Forest at Swift Creek in Midlothian, approximately 15 miles west of Richmond. The Holladay Corp. is developing the four-story, 176-unit active adult community on 11.7 acres. Sandy Spring Bank provided the funds. The development is scheduled for completion in 2024.

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Assisted LivingCaliforniaDevelopmentNews

Clearwater Living Opens 117-Unit Community in Glendora, California

by Jeff Shaw

GLENDORA, Calif. — Clearwater Living has opened Clearwater at Glendora, a 117-unit assisted living and memory care community in Glendora. The property is a two-story, 117,000-square-foot property offering 88 assisted living and 29 memory support apartments with studio, companion, one- and two-bedroom layouts. It is the only assisted living and memory care community in Glendora, according to the developer. Clearwater at Glendora is the company’s 10th seniors housing community in California, Arizona and Nevada, with plans for additional developments in the pipeline.

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CaliforniaDevelopmentNews

Belmont Village Senior Living Breaks Ground on 177-Unit Project in San Ramon, California

by Jeff Shaw

SAN RAMON, Calif. — Belmont Village Senior Living, in partnership with Sunset Development, has broken ground on Belmont Village San Ramon. Located within the Bishop Ranch neighborhood of San Ramon, the 175,320-square-foot community will feature a heated saltwater pool, putting green, farm-to-table gardening areas, al fresco dining, outdoor yoga lawn and group fitness space, and a dog park. Slated for completion by fall 2024, Belmont Village San Ramon will feature 177 studio, one- and two-bedroom residences for independent living, assisted living and memory care needs. Aron Will, Tim Root and …

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Affordable HousingDevelopmentNew JerseyNews

Walters Completes First Phase of Cornerstone at Branchburg Affordable Community in New Jersey

by Jeff Shaw

BRANCHBURG, N.J. — Walters has completed construction of the first building at Cornerstone at Branchburg, a 150-unit, age-restricted affordable housing community in Branchburg, approximately 25 miles west of Staten Island. Cornerstone at Branchburg is designed to attain LEED and Energy Star certifications. “We look forward to welcoming our first residents into their energy-efficient homes which will provide a healthy and affordable living environment with long-term savings on heating and cooling costs as well as improved indoor air quality,” says Joseph Del Duca, partner and director of affordable housing for Walters. …

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DevelopmentFloridaIndependent LivingNews

Joint Venture Opens The Contemporary Independent Living Community in Metro Miami

by Jeff Shaw

WESTCHESTER, Fla. — Miami-based commercial real estate developer MAS^AJP and its equity partner OCTA have opened The Contemporary, an independent living community in Westchester, approximately nine miles west of downtown Miami. Charter Senior Living operates the community, which features a mix of one- and two-bedroom options on a six-acre campus. The number of units was not disclosed. The Contemporary is located on the same campus as MedSquare Place, a Class A medical office building also developed by MAS^AJP and OCTA. The property will house some of South Florida’s best-in-class healthcare …

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CCRCDevelopmentFinanceNewsSouth Carolina

Ziegler Arranges $29.2M Financing for Bishop Gadsden Expansion in Charleston, South Carolina

by Jeff Shaw

CHARLESTON, S.C. — Ziegler has arranged $29.2 million in bond financing to fund a renovation project at Bishop Gadsden Episcopal Retirement Community in Charleston. The nonprofit continuing care retirement community is located on James Island, approximately six miles from downtown and six miles from Folly Beach. Founded in 1850 as a special ministry of the Episcopal Diocese of South Carolina, Bishop Gadsden has continuously expanded its mission to serve seniors for 173 years and remains affiliated with the Episcopal diocese. In 1987, Bishop Gadsden moved to its current location on …

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DevelopmentNewsPeople

LRS Architects Promotes Mira Boumatar, Kelsey Loverro to Associate

by Jeff Shaw

PORTLAND, Ore. — Portland-based design firm LRS Architects has promoted Mira Boumatar and Kelsey Loverro to associate. Boumatar works in various studios, including civic, commercial, housing and adaptive reuse. Loverro works in the firm’s multifamily housing and workplace studios and has also lent her design expertise to the hospitality and auto sectors. Boumatar joined LRS in 2015. She serves on the firm’s Justice, Equity, Diversity and Inclusion (JEDI) Committee, as well as its Practice Committee, Social Committee and the CCA Taskforce. She earned her bachelor’s degree in architecture from the …

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DevelopmentFeaturesNews

InterFace Panel: Land Prices, Borrowing Costs Push Owners to Renovate Rather Than Build New

by Jeff Shaw

PHILADELPHIA — New construction of seniors housing communities has been noticeably slow in recent years, at first due to the COVID-19 pandemic stopping projects in their tracks, and then by high interest rates and land costs. Fewer than 11,000 units were added within the NIC MAP 31 Primary Markets last year, the weakest inventory growth since 2014, according to the National Investment Center for Seniors Housing & Care (NIC). Construction starts were relatively weak at 3,013 units in the fourth quarter, continuing the slower pace seen in the third quarter. …

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Affordable HousingDevelopmentMassachusettsNews

Beacon, Harborlight Plan Intergenerational Adaptive Reuse of Former Briscoe School in Beverly, Massachusetts

by Jeff Shaw

BEVERLY, Mass. — Beacon Communities and Harborlight Homes have received financing to redevelop the former Briscoe School in Beverly into a mixed-use community centered around affordable housing for seniors. Located near the Atlantic Ocean approximately 15 miles north of Boston, the property will be called Beverly Village for Living and the Arts. The financing marks the first time a Massachusetts affordable housing deal has benefitted from funding from the American Rescue Plan Act (ARPA), as well as local, state and additional federal funding, according to the development team. Former classrooms …

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