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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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Assisted LivingDevelopmentMemory CareNew JerseyNews

Braemar Partners Plans 80-Unit Arbor Terrace Basking Ridge in New Jersey

by Jeff Shaw

BASKING RIDGE, N.J. — Braemar Partners has unveiled plans for Arbor Terrace Basking Ridge, an assisted living and memory care community in Basking Ridge, approximately 35 miles west of Manhattan. Groundbreaking is scheduled for later this year for completion in early 2023. When completed, the property will feature 27 assisted living apartments, 24 units for seniors in early stages of dementia and 29 units for full memory care. The Arbor Company, which operates other senior living communities in New Jersey, will operate the community when it opens. This will be …

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Affordable HousingDevelopmentNew JerseyNews

Walters Opens Cornerstone at Greentree Affordable Community in Marlton, New Jersey

by Jeff Shaw

MARLTON, N.J. — Walters has opened the doors at Cornerstone at Greentree, an income-restricted seniors housing community in Marlton, a suburb of Philadelphia. Situated on 2.3 acres in Burlington County, the four-story building features 68 one-bedroom and two-bedroom apartments, with rents starting at $850 per month. Apartments are leased exclusively to residents whose incomes are at or below 60 percent of the area median income. Rental rates are based on the renter’s gross annual income, according to the rent/income requirements chart. A staff social services coordinator is available upon request …

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DevelopmentNew JerseyNew YorkNews

EW Howell Construction Group Completes Two New Communities for Sunrise Senior Living

by Jeff Shaw

HUNTINGTON STATION, N.Y., and SUMMIT, N.J. — EW Howell Construction Group has completed two new senior living facilities in Huntington Station and Summit for Sunrise Senior Living. Sunrise of Huntington is a 90-unit luxury senior community in the Long Island hamlet of Huntington Station. The two-story building features studio, one- and two-bedroom apartments offering assisted living and memory care services. The property is Sunrise’s 11th on Long Island. The second project, located in Summit, features 114 beds in a 70,000-square-foot building. Development costs were estimated at $21 million. “There has …

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Active AdultDevelopmentNew JerseyNews

Larken Associates Opens 198-Unit Autumn Ridge Multigenerational Community in New Jersey

by Jeff Shaw

LOPATCONG, N.J. — Larken Associates has completed construction of Autumn Ridge, a 198-unit multigenerational community in Lopatcong, located along the Pennsylvania border from Allentown. The 10-building community features 148 garden- and garage-style multifamily units alongside Horizons at Autumn Ridge, an age-restricted building with 50 units reserved for the active adult community. Construction began in 2019, and the project is Larken Associates’ largest to date. The community was 100 percent occupied upon opening. “Our multifamily development philosophy is based on a recognition that today’s apartment residents increasingly represent a broad cross-generational …

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Assisted LivingDevelopmentNew JerseyNews

Wohlsen Construction Breaks Ground on Sunrise of Livingston in New Jersey

by Jeff Shaw

LIVINGSTON, N.J. — Wohlsen Construction and Sunrise Senior Living have broken ground on Sunrise of Livingston, an assisted living and memory care community in Livingston, approximately 20 miles west of downtown Manhattan. The 86,285 square foot community will feature 103 units upon completion. Other project partners include PWC Construction Management and Lantz-Boggio Architects.

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CCRCDevelopmentNew JerseyNews

LCS Completes $8M Renovation at Laurel Circle in Bridgewater, New Jersey

by Jeff Shaw

BRIDGEWATER, N.J. — Life Care Services has completed an $8 million renovation project at Laurel Circle, a life plan community in Bridgewater, located between New York City and Philadelphia. The 28,317-square-foot renovation added a new bistro-style, grab-and-go dining venue; enhanced the wellness and fitness center, salon, main lobby and common areas in independent living; and redesigned spaces in The Arbor health center. Laurel Circle features 202 units on 28 wooded acres. Hord Coplan Macht (HCM) served as the architect and interior designer for the renovation.

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AcquisitionsFinanceNew JerseyNewsSkilled Nursing

Harborview Capital Partners Arranges $24.1M Acquisition Loan for Skilled Nursing Facility in New Jersey

by Jeff Shaw

MONMOUTH COUNTY, N.J. — Harborview Capital Partners, a commercial real estate finance, equity and advisory firm, has arranged a $24.1 million bridge-to-HUD loan for the acquisition of a 202-bed skilled nursing facility in Monmouth County. The borrower and property were not disclosed. The loan, provided by local lender features nine months of interest-only payments and a 25-year amortization. Rafael Urbach of Harborview originated the loan.

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DevelopmentNew JerseyNews

LCS Breaks Ground on The Delaney at The Green in Florham Park, New Jersey

by Jeff Shaw

FLORHAM PARK, N.J. — The LCS Family of Companies has broken ground on The Delaney at The Green, a seniors housing community in Florham Park, approximately 25 miles east of Manhattan. The community will feature 128 independent living units, 58 assisted living units and 34 memory care units. Construction is scheduled for completion by March 2023. LCS Real Estate structured the financing in collaboration with an institutional equity partner. LCS Development designed the community. When complete, Life Care Services, An LCS Company, will provide operational management of the community. The …

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Assisted LivingDevelopmentNew JerseyNews

Capitol Seniors Housing Breaks Ground on 87-Unit Project in Evesham Township, New Jersey

by Jeff Shaw

EVESHAM TOWNSHIP, N.J. — Capitol Seniors Housing has broken ground on Arbor Terrace Marlton, a project in Evesham Township near Philadelphia that will consist of 60 assisted living apartments and 27 memory care units. The 76,500-square-foot community will be located near several major medical facilities and will offer amenities such as a private dining area, theater, bistro, hair salon, lounges and outdoor amenity spaces with artwork and a pond. Meyer Senior Living Studio is designing the project, and IMC Construction is the general contractor. The opening is scheduled for early …

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