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Affordable HousingDevelopmentFloridaNews

Dominium Begins Construction of 383-Unit Osprey Village Affordable Project in Poinciana, Florida

by Jeff Shaw

POINCIANA, Fla. — Dominium has started construction of Osprey Village, a 383-unit affordable seniors housing community in the Orlando suburb of Poinciana. Once completed, Osprey Village will provide 383 units of affordable seniors housing. Qualifying residents must be age 62 or older and earn no more than 60 percent of the area median income. Dominium acquired the land in July 2021 and financed the construction using 4 percent Low Income Housing Tax Credits and tax-exempt bonds. Included in Osprey Village will be single-story cottages and an apartment building. The unit …

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CaliforniaCCRCDevelopmentNews

Sundt Completes The Ridge at Paradise Valley Estates in Fairfield, California

by Jeff Shaw

FAIRFIELD, Calif. — Sundt Construction Inc. has completed construction of The Ridge at Paradise Valley Estates, an eight-acre life plan community in the Bay Area city of Fairfield. The Ridge features a mix of 70 cottages and villas. The private cottages have two bedrooms and attached garages, and the villas feature either one bedroom or two bedrooms with under-building parking. In addition to the amenities of the larger Paradise Valley Estates 76-acre community, residents can access The Ridge’s dining facility and outdoor amenities such as a learning center and outdoor …

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DevelopmentMinnesotaNewsSkilled Nursing

Lakeview Methodist Completes Construction of $24M Skilled Nursing Community in Fairmont, Minnesota

by Jeff Shaw

FAIRMONT, Minn. — Lakeview Methodist Health Care Services has completed construction of a $24 million skilled nursing community in Fairmont, located in the southern part of the state near the Iowa border. The 72-bed, 80,000-square-foot building was created as a “neighborhood concept,” which encourages companionship and sociability among residents. Kraus-Anderson Construction was the builder and Wold Architects and Engineers was the designer.

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CCRCDevelopmentFinanceIllinoisNews

HJ Sims Arranges $8.8M in Financing for Clark Lindsay Village Repositioning in Urbana, Illinois

by Jeff Shaw

URBANA, Ill. — HJ Sims has arranged an $8.8 million taxable note on behalf of Clark Lindsey Village. Established in 1978, Clark Lindsey Village is a nonprofit continuing care retirement community in Urbana. The campus currently features 147 units of independent living, 12 units of memory care and assisted living and 105 beds of skilled nursing. The borrower plans to use the funds to undertake a repositioning project at the community over the next five years. Phase I includes the construction of eight independent living villas, in addition to site …

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Active AdultDevelopmentFloridaNews

United Group Starts Construction of $64.5M Active Adult Community in Sarasota, Florida

by Jeff Shaw

SARASOTA, Fla. — The United Group of Cos. has started vertical construction on The Alloro at University Groves, an active adult community in Sarasota. The community will feature 183 one- and two-bedroom apartments, including seven two-bedroom penthouse suites in two residential buildings above covered parking. Units will range from 708 square feet to 2,228 square feet. The property will also boast a 15,210 square foot clubhouse. Development costs are estimated at $64.5 million. Project partners include Current Builders and Trez Capital. Adam Horowitz of Cooper Horowitz LLC out of New …

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AcquisitionsCompany NewsDevelopmentNews

Welltower Continues Seniors Housing Spending Spree with $1.3B in Acquisitions, Two New Developments with Kisco

by Jeff Shaw

TOLDEO, Ohio — Welltower Inc. (NYSE: WELL), a Toldeo-based REIT and the largest owner of seniors housing in the United States, has extended its 2021 spending spree by agreeing to acquire four seniors housing portfolios for a combined total of $1.3 billion. Welltower has invested $5.6 billion in acquisitions and developments since October 2020. Highlights include the acquisition of 86 Holiday Retirement communities for $1.6 billion and the acquisition of 22 properties in Ohio and Illinois totaling over 1,000 units. “Since pivoting to offense 13 months ago, Welltower is pleased …

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Affordable HousingCaliforniaDevelopmentNews

R.D. Olson Breaks Ground on Two Affordable Housing Communities in Los Angeles County

by Jeff Shaw

LONG BEACH and WEST CARSON, Calif. — R.D. Olson Construction has broken ground on two affordable housing communities in Los Angeles County: Anaheim and Walnut in Long Beach and West Carson Villas in West Carson. The projects are slated for completion by summer 2023. Developed by Bridge Housing in partnership with the City of Long Beach and the Long Beach Housing Authority, Anaheim and Walnut will feature 207,000 square feet of mixed-use space at 1500 E. Anaheim St. in Long Beach. The $44 million project will offer 88 housing units …

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Affordable HousingDevelopmentNewsVirginia

Enterprise Community Development Completes $15.8M Baker Senior Apartments in Richmond, Virginia

by Jeff Shaw

RICHMOND, Va. — Enterprise Community Development has completed construction at Baker Senior Apartments in Richmond’s North Jackson Ward neighborhood. The project was a redevelopment projects that transformed the former Baker School, originally built in 1939, into 50 units of seniors housing. Development estimates were $15.8 million. Project partners include Virginia Housing and Richmond Redevelopment & Housing Authority (RRHA). Enterprise worked with RRHA to acquire the property and leveraged Low-Income Housing Tax Credits; state and federal Historic Rehabilitation Tax Credits; tax credit equity provided by Enterprise Housing Community Investments and Sugar …

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CaliforniaDevelopmentNews

Kendal Corp. Breaks Ground on Enso Village Zen Community in Healdsburg, California

by Jeff Shaw

HEALDSBURG, Calif. — San Francisco Zen Center and The Kendal Corp. have broken ground on Enso Village, a 221-unit seniors housing community in the Bay Area city of Healdsburg. The development will sit on approximately 16 acres of land in what is called the North Village.  The community will feature a vegetarian restaurant, demonstration kitchen, indoor pool and gym, meditation hall and onsite farm for growing fresh produce for the restaurant. Weitz is building the project, which is scheduled for completion in 2023.

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DevelopmentMarylandNews

Kisco, Welltower Break Ground on 302-Unit Carnegie at Washingtonian Center in Gaithersburg, Maryland

by Jeff Shaw

GAITHERSBURG, Md. — Kisco Senior Living and joint venture partner Welltower (NYSE: WELL) have broken ground on The Carnegie at Washingtonian Center, an independent living, assisted living and memory care community in Gaithersburg, approximately 20 miles northwest of Washington, D.C. The seven-story complex will offer 302 one- and two-bedroom units on an 8.5-acre plot. Floorplans range from 837 to 1,487 square feet. The site is adjacent to RIO Lakefront at Washingtonian Center, a large shopping mall. The property is scheduled to open in spring 2024. A sales center is slated …

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