DES MOINES, Iowa, and SOUTH BEND, Ind. — AHEPA Affordable Housing Management Co. (AMC) has received two HUD Section 202 Supportive Housing for the Elderly program grant awards totaling $16.7 million to support the development of two new affordable seniors housing communities. The award for the 100-unit Des Moines project is $8.9 million. The award for the 80-unit South Bend project is $7.8 million. “The need for affordable housing, especially for very low-income seniors, is great,” says Steve Beck, AMC’s president and CEO. “Each of our existing affordable elderly housing …
MIRAMAR, Fla. — Catholic Health Services (CHS) and Atlantic Pacific Communities have broken ground on Casa Sant’Angelo, an affordable seniors housing community in the Miami suburb of Miramar. The mid-rise building offers 113 one- and two-bedroom units. Units are reserved for residents age 62 or older who earn between 30 percent and 80 percent of area median income. Funding partners include Broward County, First Housing Development Corp., Florida Housing Finance Corp. and Wells Fargo. The project is the first to use a new Miramar city code that provides impact fee …
OXFORD, Miss. — Chicago Pacific Founders (CPF) and its subsidiaries, CPF Living Communities and Grace Management Inc., have acquired The Magnolia at Oxford Commons, a 100-unit senior living community in Oxford. The community was previously known as The Blake at Oxford. The name change reflects the change in ownership. Grace Management will take over operations, offering assisted living and memory care services. The Magnolia at Oxford Commons is located in the new Oxford Commons neighborhood, near shopping, restaurants, medical facilities, The Square and The University of Mississippi. The new owner …
BOSTON — Boston Financial Investment Management has closed its Boston Financial Institutional Tax Credits 55 Limited Partnership (ITC 55), a $221 million Low Income Housing Tax Credit (LIHTC) fund. ITC 55 comprises 22 tax credit investments, with plans to finance more than 1,800 affordable housing units across 16 multifamily and six senior living communities. Nine institutional investors from the banking and insurance sectors participated in ITC 55, five of which were new investors with Boston Financial. Additionally, more than 30 percent of the development partners were nonprofit entities. The fund …
KNOXVILLE, Tenn. — Shannondale, a Knoxville-based operator, has hired Jim Driscoll as chief financial officer. Driscoll has 15 years of experience in healthcare accounting, financial and compliance management. He holds an MBA in finance from the University of Mississippi, Oxford; a bachelor’s degree in accounting from the University of Alabama; and a bachelor’s degree in finance from the University of Tennessee. In his role prior to joining Shannondale, Driscoll was director of accounting and compliance for a Knoxville medical practice. Driscoll replaces Glen McDaniel, who is retiring.
FORT WORTH, Texas — Tradition Senior Living has broken ground on The Tradition-Clearfork, a seniors housing community in Fort Worth. Upon completion, the development will offer 214 independent living units, 95 assisted living/memory care units and three furnished suites for overnight guests. Units range from 880 square feet to 2,200 square feet. Located on approximately six acres along the Trinity River, the property includes a nine-story independent living building and a five-story assisted living and memory care building. A soft opening is scheduled for spring 2023, with final completion slated …
HOLBROOK, Mass. — Port One Cos. and Tiderock Cos. have formed a partnership to develop a 410-unit seniors housing community on a 48-acre parcel in Holbrook, approximately 15 miles south of Boston. The estimated budget for this project is $190 million. The developers are under contract to acquire the site for $19 million. Tiderock will provide operational support and oversight including but not limited to project management, marketing, budgeting, product mix, and review of and negotiations for limited partner equity and debt. Further details on the project were not disclosed.
COLUMBIA, Md. — Brightview Senior Living has opened Brightview Columbia in Columbia, approximately midway between Baltimore and Washington, D.C. The community, Brightview’s 45th, features 91 independent living units, 53 assisted living units and 26 memory care units. Brightview Columbia was designed with a nod to Athol Manor, a historic property within walking-distance of the community. Brightview restored the manor and revitalized the adjacent Manor Park. Athol Manor was gifted by Brightview to the Community Foundation of Howard County.
SALEM, Mass. — MassDevelopment has awarded $80,500 from the Brownfields Redevelopment Fund to North Shore Community Development Coalition Inc. (North Shore CDC) to perform environmental site assessments on four parcels in the Point neighborhood in Salem. North Shore CDC will collaborate with North Shore Community Health (NSCH) to build the South River Revitalization Project at the site, which will include a 50-unit affordable seniors housing facility and nonprofit center featuring a health center, NSCH administrative offices and office space for other area nonprofits. The parcels are situated at the entrance …
WellAge Names Cindy Batey as Executive Director of Jackson Creek Senior Living in Monument, Colorado
MONUMENT, Colo.— WellAge has selected Cindy Batey to serve as the executive director of Jackson Creek Senior Living in Monument. Batey will oversee operations for Jackson Creek’s 137 independent living, assisted living and memory care apartments. Batey is a Monument native who has spent more than 33 years in the seniors housing industry working at various communities throughout Colorado Springs and Denver.