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Affordable HousingDevelopmentGeorgiaNews

McShane Completes 124-Unit True Light Haven Affordable Community in Atlanta

by Jeff Shaw

ATLANTA — McShane Construction Co. has completed construction of True Light Haven, a 124-unit affordable seniors housing community in Atlanta Westside neighborhood. National Church Residences is the developer on the four-story project, which sits on 4.7 acres. The residence is located within walking distance of the West Lake MARTA train station and the Westside beltline biking and walking trail. It is also just three miles from the Mercedes Benz Stadium and Downtown Atlanta. True Light Haven was designed to achieve National Green Building Standard (NGBS) Gold certification. The architect of …

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Affordable HousingCaliforniaDevelopmentFinanceNews

Hunt Capital Partners Negotiates $5.6M LIHTC Financing for St. Stephen’s Retirement Center in San Diego

by Jeff Shaw

SAN DIEGO — Hunt Capital Partners, in collaboration with CRP Affordable Housing and Community Development LLC and its affiliate Castellan Holdings LLC, has arranged $5.6 million in Low-Income Housing Tax Credit (LIHTC) equity financing for St. Stephen’s Retirement Center. Located in San Diego, St. Stephen’s Retirement Center is the acquisition and rehabilitation of 60 affordable housing units for seniors. The development will provide a variety of supportive services. As of the closing date of May 12, 2021, this transaction was the first development in California and the fifth in the …

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DevelopmentNewsWashington

Ryan Cos. Completes 405,992 SF Wesley at Tehaleh in Bonney Lake, Washington

by Jeff Shaw

BONNEY LAKE, Wash. — Wesley Homes, Presbyterian Homes & Services (PHS) and Ryan Cos. US have completed construction of Wesley at Tehaleh, a 405,992-square-foot senior living community within the master-planned community of Tehaleh by Newland in Bonney Lake, a suburb of Seattle. The two-building property sits on 16.8 acres and features 18 memory care apartments, 168 independent living apartments and 42 assisted living apartments. “This new community has been in the works for over three years,” says Kevin Anderson, president and CEO of the community. CGA was architect on the …

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Affordable HousingDevelopmentGeorgiaNews

Joint Venture Breaks Ground on $76M Affordable Complex in Stockbridge, Georgia

by Jeff Shaw

STOCKBRIDGE, Ga. — A joint venture between TriStar Commercial Real Estate Investments, Zimmerman Properties and nonprofit Star-C has broken ground on a multifamily complex that includes seniors housing in Stockbridge, approximately 18 miles southeast of downtown Atlanta. The $76 million property includes the Villas at Mt. Zion, a 96-unit independent living community, and the Flats at Mt. Zion, a 210-unit multifamily community for families with children who attend Mt. Zion elementary and primary schools. The development is the first in an alliance between Zimmerman Properties, an affordable housing builder and …

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AcquisitionsDevelopmentNewsWashington, D.C

Maplewood Senior Living Buys Historic Hotel in Washington, D.C. for Luxury Seniors Housing Conversion

by Jeff Shaw

WASHINGTON, D.C. — Maplewood Senior Living and Omega Healthcare Investors Inc. (NYSE: OHI) have unveiled plans to expand the Inspīr brand to the Washington D.C. market with the acquisition of The Fairfax Embassy Row. The historic hotel will be transformed and re-envisioned into Inspīr Embassy Row, an ultra-luxury senior living community. Inspῑr Embassy Row will be the second location under Maplewood’s Inspīr brand, and the first Washington D.C. property in the company’s portfolio. “We have taken careful consideration to identify locations where we can truly offer exceptional resident experiences that …

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CCRCDevelopmentFinanceFloridaNews

Ziegler Arranges $80M Financing for Mayflower Retirement Center Expansion in Winter Park, Florida

by Jeff Shaw

WINTER PARK, Fla. — Ziegler has arranged $80 million in bond financing for an expansion project at Mayflower Retirement Center, a continuing care retirement community in Winter Park, a suburb of Orlando. The community opened in 1989 is situated on approximately 37 acres and currently consists of 220 independent living apartments and 28 villas; 31 private assisted living units with 15 used for memory support services; 60 nursing beds; and associated common areas. The borrower is pursuing a two-phase repositioning of its campus. Phase I was financed in November of …

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DevelopmentNewsPennsylvania

Spiezle Architectural Group Completes Design of Cathedral Village in Philadelphia

by Jeff Shaw

PHILADELPHIA — Spiezle Architectural Group has completed design work for the second phase of renovations at Cathedral Village, a senior living community in Philadelphia. The first phase began in 2014, and is scheduled for completion in 2022. The latest phase includes renovating all facades, walkways and outdoor amenity spaces to encourage outdoor living and leisure activities. “We have partnered with Presbyterian Senior Living to enhance the property with a more philosophical approach, engaging residents in campus planning sessions and throughout all design phases,” says Steven Leone, principal with the firm. …

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Active AdultDevelopmentFloridaNews

Origin Construction to Build $75M America Walks Community in Port St. Lucie, Florida

by Jeff Shaw

PORT ST. LUCIE, Fla. — Miami-based Origin Construction has unveiled plans for America Walks, an active adult rental community in Port St. Lucie spanning 60 acres and more than 400 residences. The project is expected to cost $75 million to develop and is slated for completion in the third quarter of 2023. Ohio-based America Walks is the developer for the gated community. America Walks will feature both a residential and recreational component, including two four-story apartment buildings with 115 units, as well as 300 villas in 60 buildings surrounding four lakes …

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Assisted LivingConnecticutDevelopmentFinanceNews

Senior Living Development LLC Arranges $16M Construction Financing for 117-Bed KindCare at Bristol in Connecticut

by Jeff Shaw

BRISTOL, Conn. — Senior Living Development LLC has arranged $16 million in construction financing for KindCare at Bristol, a middle-market, 117-bed assisted living and memory care community. Situated on a one-acre parcel in downtown Bristol, the community is the first of a rollout for KindCare Assisted Living, specializing in bringing assisted living and memory care to the middle class. This urban model utilizes a smaller footprint for the 60,000-square-foot community to drive down costs without sacrificing any amenities, services or quality. Rates average 20 percent less than luxury assisted living, …

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DevelopmentFloridaNews

Ryan Cos., Grand Living Start Construction of Grand Living at Wellen Park in Venice, Florida

by Jeff Shaw

VENICE, Fla. — Ryan Cos. US Inc. and Grand Living have started construction of Grand Living at Wellen Park, a luxury senior living community in Venice. The community will be part of Wellen Park, a master-planned community on the state’s Gulf Coast. The 235,267-square-foot building will bring 192 apartments to Wellen Park. According to a study conducted by Moore Diversified Services, the 75-and-older demographic with income-qualified households in the Venice area is expected to increase by 35.8 percent between 2020 and 2025. Residents will have access to Wellen Park’s amenities, …

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