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DevelopmentMissouriNews

Tutera, Shelbourne Open $55M The Lumiere of Chesterfield in Missouri

by Jeff Shaw

CHESTERFIELD, Mo. — Tutera Senior Living & Health Care, together with Shelbourne Healthcare Development Group, have completed The Lumiere of Chesterfield, an upscale senior living community in the St. Louis suburb of Chesterfield.  The community features 96 units of independent living, 37 units of assisted living and 17 units of memory care in a 193,000-square-foot building near the Chesterfield Mall. Development costs were estimated at $55 million.  The project architect is Moseley Architects in Springfield, Virginia, and the interior designer is Faulkner Design Group out of Dallas.

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ArizonaDevelopmentIndependent LivingNews

Senior Resource Group Begins Expansion of Maravilla Scottsdale in Arizona

by Jeff Shaw

SCOTTSDALE, Ariz. — Senior Resource Group has started the planned expansion of Maravilla Scottsdale, a seniors housing community in the Phoenix suburb of Scottsdale. Neighboring the Fairmont Scottsdale Princess hotel and The Champions Course at TPC Scottsdale golf course, Maravilla Scottsdale has served older adults since its opening in 2012. The current community comprises 217 units, including 157 independent living, 36 assisted-living and 24 memory care residences.  The expansion will add 162 more independent living residences, consisting of 47 casitas and 115 lodge homes. Construction is ahead of schedule on …

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DevelopmentFeaturesIndustry VoicesOperations

It’s Time for The Senior Living Industry to Adapt to a Changing Generation 

by Jeff Shaw

By Joseph Cuticelli, chief operating officer and partner, Phoenix3 Holdings  Charles Darwin’s principle that survival hinges on adaptability rather than strength is more relevant than ever for senior living leaders. The industry sits at a critical juncture, with a rapidly expanding customer base and an often outdated image that no longer resonates with today’s active seniors. Technological advancements in smart homes, delivery services and accessible healthcare have empowered 74 percent of older adults to prefer staying in their current homes or downsizing, as revealed by the 2023 “Unlocking the Future” …

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CCRCDevelopmentFinanceNewsNorth Carolina

Ziegler Arranges $76.2M Bond Financing for Carolina Meadows CCRC in Chapel Hill, North Carolina

by Jeff Shaw

CHAPEL HILL, N.C. — Ziegler has arranged $76.2 million in bond financing for Carolina Meadows, a continuing care retirement community (CCRC) in Chapel Hill, part of the Raleigh-Durham metro area. Carolina Meadows was formed in 1983 to develop, own and manage the community. The property features 476 independent living units, 78 assisted living units (95 beds in operation) and 78 skilled nursing units (86 beds in operation). This ranks Carolina Meadows as the 20th largest nonprofit, single-site CCRC in the country, according to the 2023 LeadingAge-Ziegler 200. Carolina Meadows plans to …

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DevelopmentIndependent LivingNewsWashington

Watermark, Alliance Complete Independent Living Expansion at Watermark at Bellevue

by Jeff Shaw

BELLEVUE, Wash. — Watermark Retirement Communities and Alliance Residential Co. have completed construction of a new independent living tower at Watermark at Bellevue in the Seattle suburb of Bellevue. The community now offers a continuum of care, with its existing assisted living and memory care spaces. The property features 110 assisted living apartments and 26 memory care units. The expanded Watermark at Bellevue, now totaling 360,000 square feet, spans an entire city block. The 155-unit, 22-story independent living tower features studios, one-bedroom and two-bedroom apartments.  Watermark at Bellevue is adjacent …

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Affordable HousingDevelopmentFinanceNewsTexas

Hunt Capital Partners Arranges $13.2M Financing for Oak Lofts Crossing Affordable Community in Stafford, Texas

by Jeff Shaw

STAFFORD, Texas — Hunt Capital Partners has arranged $13.2 million in Low-Income Housing Tax Credit financing for the construction of Oak Lofts Crossing for Seniors, a 60-unit affordable seniors housing community in the Houston suburb of Stafford. Oaklake Community Housing Development Corp. (OCHDC) is the borrower. Comprised of a four-story, elevator-serviced, mid-rise building, the development will offer a mix of one- and two-bedroom affordable homes for those who earn up to 30 percent, 50 percent and 60 percent of the area median income (AMI). Oak Lofts Crossing provides a much-needed …

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DevelopmentNewsNorth Carolina

Liberty Senior Living Completes Renovations at Quail Haven Village in Pinehurst, North Carolina

by Jeff Shaw

PINEHURST, N.C. — Liberty Senior Living has completed renovations at Quail Haven Village in Pinehurst, approximately midway between Charlotte and Raleigh. Quail Haven Village features 79 units of independent living, 12 units of assisted living and 60 beds of skilled nursing and rehabilitation, in addition to offering home care services on its campus.  Renovations included improvements to the dining room, clubhouse and apartments.

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AcquisitionsDevelopmentNewsSouth Carolina

Marcus & Millichap Brokers Sale of Office Building in Charleston for Senior Care Conversion

by Jeff Shaw

CHARLESTON, S.C. — Marcus & Millichap has arranged the sale of 7445 Cross County Road, a 6,787-square-foot office property located in Charleston. “The new tenant, Elite Home Care and Day Center, is a reputable provider of adult day care services and is rapidly expanding,” says Ani Paulson, vice president investments. “Having started in the Greenville-Spartanburg area, they now have locations in Columbia, Georgetown and Myrtle Beach.” Paulson, investment specialist in Marcus & Millichap’s Atlanta office, had the exclusive listing to market the property on behalf of the seller, John Price, …

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Affordable HousingDevelopmentMassachusettsNews

Joint Venture Completes Conversion of Former Middle School to LGBTQ-Focused Affordable Community in Boston

by Jeff Shaw

BOSTON — LGBTQ Senior Housing Inc., Pennrose, the City of Boston and other project partners have opened The Pryde, an LGBTQ-affirming affordable housing community for seniors in Boston’s Hyde Park neighborhood. The project transformed the historic Rogers Middle School site into a vibrant community of 74 mixed-income rental homes. The Pryde includes studio, one- and two-bedroom modern apartments available to households earning less than 30 percent to less than 100 percent of the area median income (AMI), or approximately $36,690 to $103,900 for a one-person household. Several apartments will be …

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