LAS VEGAS — SR Construction has completed work on Silverado Red Rock, a memory care community in Las Vegas. This single-story, 36,381-square-foot community features 60 resident rooms and 72 resident beds. The community will welcome its first residents on March 14. This is the second community that SR has built for Silverado.
SELDEN, N.Y. — Knighthead Funding, LLC has provided a $34.5 million loan for the construction of an active adult community in Selden, a hamlet on Long Island. The borrower is The Northwind Group. The property is fully permitted, planned and approved, but a community name was not released. Situated on 13.8 acres, the complex will feature 124 two-bedroom, two-bath units, including 36 affordable homes, in 15 two-story residential buildings. “Considering the supply/demand imbalance and the limited prospects for new construction in the area, our capital will help Northwood bring needed …
PORT ST. LUCIE, Fla. — Lloyd Jones has started construction of AVIVA Port St. Lucie, a 159-unit independent living community in the South Florida city of Port St. Lucie. The community features one- and two-bedroom options and is slated to open in spring 2023. Overlooking Lake Whitney, AVIVA Port St. Lucie will be near Town Center at St. Lucie West and across the street from a medical office center.
SALT LAKE CITY — Bridge Investment Group Holdings Inc. (NYSE: BRDG) has launched a $75 million program to acquire, develop and operate needs-based seniors housing assets within the United States. As part of the venture, StepStone Real Estate co-invested in an existing portfolio managed by Salt Lake City-based Bridge and intends to help build the platform by co-investing in other seniors housing assets identified by Bridge in the future. “Bridge’s partnership with StepStone represents a strategic milestone as we continue to expand our needs-based seniors housing strategy,” says Robb Chapin, …
RANDOLPH, Mass. — Harvard Medical School affiliate Hebrew SeniorLife has closed on the financing to build 45 new units of affordable senior housing at the Simon C. Fireman Community in the Boston suburb of Randolph. Currently, the community offers 160 senior apartments with supportive services. With a low-income housing tax credit investment from the Massachusetts Housing Investment Corporation (MHIC) and support from several other funders, Hebrew SeniorLife’s new construction began this week. The resulting apartments will be 100 percent affordable, with 27 units for households earning up to 60 percent …
POMONA and CLAREMONT, Calif. — Ziegler has arranged $43.8 million in bond financing for Congregational Homes in support of its continuing care retirement community, Mt. San Antonio Gardens. The Gardens is located on approximately 31 acres spanning across the border of Pomona and Claremont in the Inland Empire area of California. The community features 248 independent living units, 71 assisted living units, 10 memory care units and 58 skilled nursing beds. Proceeds of the bonds will be used to finance a project that will replace the community’s original D Building …
HICKORY, N.C. — Woda Cooper Cos. Inc. has opened Center Crossing, a 50-unit, four-story affordable seniors housing community in Hickory that offers one- and two-bedroom apartments. Five of the units are accessible for those with mobility challenges, including two units specifically equipped for those with sight and hearing impairments. The property serves residents aged 55 and older who earn 40 to 80 percent area median income (AMI). Rental rates range from $356 to $921 per month, depending on unit size and income restriction. Community amenities include an onsite management office, …
OXFORD, Fla. — Colliers Mortgage | Commercial Finance, a division of Colliers, has provided a $23.4 million construction loan for Stonegate at Wildwood, a 130-unit seniors housing development in Oxford, approximately 50 miles northwest of downtown Orlando. Stonegate at Wildwood will be a two-story property located on an approximately 3.9-acre parcel within an area commonly known as The Villages, a large master-planned, age-restricted community. The borrower is Stonegate Development Co.
BOSTON — Dorchester Bay Economic Development Corporation (DBEDC) and Hebrew SeniorLife have closed on financing and started construction of 9 Leyland, a 43-unit affordable seniors housing building in Boston’s Dorchester neighborhood. Located in the Upham’s Corner section of the neighborhood, 41 one-bedroom units and two two-bedroom units are reserved for seniors earning below 60 percent of the area median income (AMI). Twenty-four units will be supported by project-based rental vouchers, of which 11 units will serve seniors earning up to 30 percent of AMI, including seniors transitioning from homelessness. Completion …
LITTLETON, Mass. — Nauset Construction has broken ground on Hager Homestead, a five-building, 24-unit, age-restricted cohousing development in Littleton, approximately 30 miles northwest of Boston. Located on a 15-acre site, the new community will be built in two phases near Littleton Center, the Town Hall and public library, and a short drive to the commuter rail station. Hager Homestead will be the first cohousing development for seniors in New England, according to Nauset. “Many seniors are looking for a downsized, community-oriented, environmentally friendly lifestyle, and that’s what Hager Homestead will …
