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AcquisitionsCCRCFloridaNews

Acts Considers Affiliation with Mease Life in Dunedin, Florida

by Jeff Shaw

DUNEDIN, Fla. — Acts Retirement Life Communities and Mease Life have signed a letter of intent to explore an affiliation relationship. An affiliation in the nonprofit world is similar to an acquisition in the for-profit space. Mease Life is a continuing care retirement community (CCRC) in Dunedin that is home to approximately 350 residents. Under the proposed agreement, Mease Life will become an Acts affiliate member, and part of a network of CCRCs operated and managed by Acts, the nation’s third largest not-for-profit senior living organization. A due diligence review …

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Affordable HousingDevelopmentFloridaNews

HTG, AM Break Ground on $23.5M Princeton Grove Affordable Community in Crestview, Florida

by Jeff Shaw

CRESTVIEW, Fla. — Housing Trust Group (HTG) and AM Affordable Housing, a non-profit founded by NBA Hall of Famer and Miami Heat legend Alonzo Mourning, have started construction of Princeton Grove, a $23.5 million affordable seniors housing community in the Florida Panhandle city of Crestview. Apartments at Princeton Grove will be reserved for income-qualifying residents who earn at or below 22, 30 and 60 percent of area median income (AMI), with rents ranging from $363 to $1,188 per month. In addition, the developer has committed a minimum of five apartments …

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FloridaMemory CareNewsPeople

Watercrest Hires Danielle Potter as Executive Director of Market Street Memory Care Residence Palm Coast in Florida

by Jeff Shaw

PALM COAST, Fla. — Watercrest Senior Living Group has hired Danielle Potter to the leadership team as executive director of Market Street Memory Care Residence Palm Coast in Palm Coast, approximately midway between Jacksonville and Orlando. Potter started her career in housekeeping, working her way upwards as a resident care coordinator, lifestyle director, lead concierge and business office director before earning her first leadership role as an executive director several years ago. Market Street Palm Coast is a 64-unit memory care community. The community was recently recognized by U.S. News …

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DevelopmentFloridaNews

AgeWell Solvere Opens 81 Oaks Community in Sarasota, Florida

by Jeff Shaw

SARASOTA, Fla. — AgeWell Solvere Living has completed construction of 81 Oaks, a seniors housing community in Sarasota. Sarasota-based N21 Group is the developer and Lawson Group Architects is the architect on the project. Wiseman Construction is the general contractor. “We’re delighted to manage this innovative new community in the Sarasota area, where the demographic for adults ages 65 years and older is 37 percent [of the total population], which shows a need for independent living, assisted living and memory care communities in the area,” says Kristin Kutac Ward, co-CEO …

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DevelopmentFloridaNewsTennessee

Baker Barrios Architects Completes Construction of Community in Memphis, Breaks Ground on Another in Florida

by Jeff Shaw

MEMPHIS, Tenn., and ORMOND BEACH, Fla. — Baker Barrios Architects completed Brightmore of East Memphis, a 180-unit seniors housing development in Memphis, as well as the start of construction on Aden Senior Living, a 131-unit development in Ormond Beach. Both developments include assisted living and memory care facilities, while Brightmore of East Memphis also features an independent living component. Brightmore of East Memphis spans 210,000 square feet and features 122 independent living units, 34 assisted living units and 24 memory care units. Baker Barrios provided architecture and landscape design services. …

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DevelopmentFloridaNews

Watermark, ZOM Open 198-Unit Community in Coral Gables, Florida

by Jeff Shaw

CORAL GABLES, Fla. — Watermark Retirement Communities and ZOM Senior Living have opened The Watermark at Coral Gables, a 198-unit seniors housing community in the Miami suburb of Coral Gables. The community offers independent living, assisted living and memory care in studio, one-bedroom and two-bedroom options. It is part of Watermark’s Élan Collection of high-end seniors housing properties. The Watermark at Coral Gables spans over 256,000 square feet, including 50,000 square feet of amenities. It boasts the only rooftop pool at a senior living community in Coral Gables, according to …

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DevelopmentFloridaNews

Watermark, Zom Open 154-Unit Community in West Palm Beach, Florida

by Jeff Shaw

WEST PALM BEACH, Fla. — Watermark Retirement Communities and Zom Senior Living have opened The Watermark at West Palm Beach, a 154-unit seniors housing community in the South Florida city of West Palm Beach. The community is the latest addition to Watermark’s luxury Élan Collection of communities. “West Palm Beach offers everything today’s sophisticated seniors want, including easy access to travel and proximity to dining, shopping, arts, culture and world-class medical care,” says David Freshwater, chairman of Watermark Retirement Communities. Spanning over 245,000 square feet, The Watermark at West Palm …

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Assisted LivingDevelopmentFloridaNews

SRI Management, Rimrock Cos. Complete The Canopy at Duval Station in Jacksonville

by Jeff Shaw

JACKSONVILLE, Fla. — SRI Management, in conjunction with Jacksonville-based real estate developer Rimrock Cos., has opened The Canopy at Duval Station, a seniors housing community in Jacksonville. The property offers assisted living and memory care services. The number of units was not disclosed. The community’s executive director is Leslie Nostrant.

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Assisted LivingDevelopmentFinanceFloridaNews

Capital Funding Group Provides $27.2M Loan for Seniors Housing Conversion Project in South Florida

by Jeff Shaw

SUNRISE, Fla. — Capital Funding Group has provided a $27.2 million construction loan for the conversion of a partially completed hotel in South Florida to a 191-unit assisted living community. The property is located at 3003 N. University Drive in Sunrise, about 10 miles west of Fort Lauderdale. The borrower, YMP Real Estate Management, will use $7.4 million of the financing to complete the shell construction. YMP will also manage the seniors housing community when it opens. The construction timeline was not disclosed.

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