Development

Assisted LivingDevelopmentGeorgiaNews

Watercrest Nears Completion of 98-Unit Community in Macon, Georgia

by Jeff Shaw

MACON, Ga. — Watercrest Senior Living Group and equity partners, Peninsula U.S. Real Estate and Corecam Capital Partners, have received a certificate of occupancy for Watercrest Macon Assisted Living and Memory Care in Macon. EMJ construction is finalizing building details alongside Interior Design Associates (IDA), in preparation for the upcoming opening. Watercrest Macon is a 98-unit, luxury senior living campus comprising 76 assisted living and 22 memory care residences. It is located within the Providence at Bass development featuring high-end residential, retail, dining and entertainment. Watercrest Macon is one of …

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AlabamaDevelopmentNews

Nicol Investment Starts Construction of $200M Upland Park Mixed-Use Project in Huntsville, Alabama

by Jeff Shaw

HUNTSVILLE, ALA. — Nicol Investment Co. has started construction of Upland Park, a $200 million mixed-use project in Huntsville. The 60-acre project will include multifamily and senior living residences, restaurants, retail, office, entertainment and green space. Located on Enterprise Way at Cummings Research Park, Upland Park will be anchored by HQ, a creative office and retail project being co-developed with Nashville-based Vintage South. The master plan includes The Kelvin, a 301-unit apartment community; Vitality at Upland Park, a 189-unit senior living property; and The Collins, a 334-unit multifamily project featuring …

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DevelopmentFeaturesNews

Fitness Centers, Outdoor Spaces and Units All Becoming Larger, Say Seniors Housing Development Panelists

by Jeff Shaw

ATLANTA — Driven by the desire of a healthy lifestyle, two areas that senior living developers are currently focusing on are the fitness center and outdoor spaces, according to Scott Gensler, vice president of business development with Erickson Senior Living. “Every time I look at a plan, the fitness center gets bigger and bigger and bigger,” said Gensler. “Then we open it, and it’s still not big enough.” Not only is the fitness center becoming larger, but it’s also becoming more of a prominent feature in Erickson’s continuing care retirement …

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ArizonaDevelopmentNews

Link Senior Development, MedCore Partners Plan 202-Unit Community in Buckeye, Arizona

by Jeff Shaw

BUCKEYE, Ariz. — Link Senior Development and MedCore Partners have unveiled plans for Ativo of Sundance, a 202-unit senior living community inside the Sundance Active Adult master-planned community in the Phoenix suburb of Buckeye. The campus will offer 103 independent living, 75 assisted living and 24 memory care units on a 10-acre tract. Construction of the 211,000-square-foot, three story project is scheduled to begin in late 2021 for an anticipated opening in summer 2023. Insight Senior Living will manage the community, including oversight of all programs and resident services. This …

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Assisted LivingDevelopmentNewsTexas

LifeCare Properties, ERG Enterprises Plan The Blake at Tyler in Texas

by Jeff Shaw

TYLER, Texas — LifeCare Properties and New Orleans-based investment group ERG Enterprises have released plans for The Blake at Tyler, a senior living community in the East Texas city of Tyler. Scheduled to open in 2023, the property will be the third Blake-branded community in Texas. Blake Management Group will be the operator. The community will total 100,000 square feet and offer assisted living and memory care units.

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DevelopmentFinanceFloridaNews

Madison Marquette Receives Construction Financing for $37M Project in Punta Gorda, Florida

by Jeff Shaw

PUNTA GORDA, Fla. — Madison Marquette has received the construction loan for a 135-bed seniors housing community in Punta Gorda, just northwest of Fort Myers. The project is the second project for Madison Marquette with partners Arbah Capital and operator Meridian Senior Living. The partners recently developed a 117,000-square-foot, 144-bed community in the Tampa suburb of Brandon. H2C Securities Inc. a healthcare-focused strategic advisory firm, served as the exclusive advisor to the borrowers. Vice President Matthew Tarpley and Senior Associate Mitch Levine led the transaction for H2C. The $37 million …

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DevelopmentNew JerseyNews

Reuten Associates Plans 195-Unit Residences at Reuten Park in Closter, N.J.

by Jeff Shaw

CLOSTER, N.J. — Reuten Associates and Metropolis Property Group have unveiled plans for The Residences at Reuten Park, a 195-unit seniors housing development in Closter, approximately 15 miles north of Manhattan. The Residences at Reuten Park will replace five obsolete post-World War II-era manufacturing buildings located within the Reuten Corporate Park. The community will offer independent living, assisted living and memory care units on a six-acre plot. The project will take approximately 15 months to build, and still requires approval of Closter’s Zoning Board of Adjustment. “We believe that transforming …

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Active AdultDevelopmentFeaturesNews

Design of Active Adult Properties Must Appeal to Multiple Generations, Say InterFace Panelists

by Jeff Shaw

As a concept, the term “active adult” supports the notion that age is just a number. As an evolving subcategory of seniors housing, active adult is a property type that means different things to different people. For that reason, designers and builders of this asset class face the unique challenge of visualizing and delivering communities that appeal to a broad range of renter profiles. Effective, consistent branding is one of the biggest challenges within the active adult sector, which is very much in its infancy relative to other commercial property …

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Active AdultDevelopmentNevadaNews

Sparrow Partners to Build Two Active Adult Communities in Henderson, Nevada

by Jeff Shaw

HENDERSON, Nev. — Sparrow Partners has unveiled plans for its first two active adult communities in the Las Vegas area: the 173-unit Mera Rhodes Ranch and 189-unit Mera Henderson. Both located in the first-ring suburb of Henderson, the communities are under construction and scheduled to open in mid-2022. “Las Vegas has one of the fastest growing populations of older adults in the nation, including many healthy seniors who no longer want to own a high-maintenance home but don’t yet need expensive support services,” says Jeff Patterson, co-founder of Sparrow Partners. …

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Affordable HousingDevelopmentFinanceFloridaNews

Centennial Bank Provides $33M Construction Loan for Affordable Community in Sweetwater, Florida

by Jeff Shaw

SWEETWATER, Fla. — Centennial Bank Southeast Florida has provided a $33 million loan to CREI Holdings LLC for a development of an affordable seniors housing community in Sweetwater, a suburb of Miami. CREI plans to develop an eight-story, 217,000-squarae-foot, 244-unit community on the five-acre parcel, citing area population growth during the pandemic. The site was formerly Vann Academy, a school and daycare center that closed its doors around the start of the pandemic. The future community will comprise one- and two-bedroom units ranging from 609 to 874 square feet. The …

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