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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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CCRCDevelopmentGeorgiaNews

Lenbrook Completes $108M Campus Expansion in Atlanta

by Jeff Shaw

ATLANTA — Lenbrook, an independent continuing care retirement community in Atlanta, has completed a $108 million expansion at the community. The project, named Kingsboro at Lenbrook, will add 53 independent living units, common areas, event space and a regulation croquet lawn on a four-acre parcel. The first Kingsboro at Lenbrook residents have already moved in, and just a few of the new 39 apartments and 14 villas remain available for sale, according to Lenbrook. THW Design was architect on the project, Greenbriar Development was development consultant and Brasfield & Gorrie …

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Affordable HousingDevelopmentMinnesotaNews

Ecumen Breaks Ground on $24M The Hillock Affordable Community in Minneapolis

by Jeff Shaw

MINNEAPOLIS — Ecumen has broken ground on The Hillock, a 100-unit affordable housing community for seniors in the Longfellow neighborhood of Minneapolis. The project will include 11 units for homeless veterans. The $24 million development is scheduled to open in fall 2022. The site is adjacent to public transit and rents are expected to range from $816 to $1,339 per month. Units are reserved for seniors earning between 30 percent and 60 percent of the area median income. Phase II of the development will add an 89-unit affordable housing building …

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Assisted LivingDevelopmentMassachusettsNews

Benchmark Plans $10M Renovation Project at Falls at Cordingly Dam in Newton, Massachusetts

by Jeff Shaw

NEWTON, Mass. — Benchmark Senior Living has unveiled plans for a $10 million renovation project at The Falls at Cordingly Dam, an assisted living and memory care community in Newton. The project includes opening more spaces with views of the Charles River, creating more open-concept common areas and modernizing apartments. It will also add 22 new units to the property. “The Falls was one of Benchmark’s first communities when we began nearly 25 years ago and has been an important part of the Newton community ever since,” says Tom Grape, …

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Assisted LivingDevelopmentNew JerseyNews

Capitol Seniors Housing Breaks Ground on The Chelsea at Washington Township in New Jersey

by Jeff Shaw

WASHINGTON TOWNSHIP, N.J. — Capitol Seniors Housing has broken ground on The Chelsea at Washington Township, an assisted living and memory care community in Washington Township. The 76,700-square-foot, two-story community will offer 85 units in the suburbs of New York City. The community site is located near Schlegel Lake, Senior Park, a community center and a wide variety of retail shopping and restaurants in the Washington Town Center shopping center. Designed by Meyer Design with KBE Building Corp. serving as general contractor, The Chelsea at Washington Township is scheduled to …

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Assisted LivingDevelopmentNew YorkNews

Polaris Healthcare Opens The Sentinel of Rockland Assisted Living in Montebello, New York

by Jeff Shaw

MONTEBELLO, N.Y. — The Polaris Healthcare Network has opened The Sentinel of Rockland in Montebello, located along the New Jersey border northwest of New York City. Located on seven acres, the community offers assisted living services through the state’s Medicaid program. M&T Bank provided capital for the development. Further details were not disclosed.

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