Pennsylvania

Continuum Agrees to Acquire Windy Hill Village in Philipsburg, Pennsylvania

by Jeff Shaw March 19, 2024

PHILIPSBURG, Pa. — Continuum Healthcare has agreed to acquire Windy Hill Village, a seniors housing community in the tiny Central Pennsylvania borough of Philipsburg. Presbyterian Senior Living (PSL) is selling the asset for an undisclosed price. The transaction is scheduled to close this summer. PSL has owned and operated Windy Hill Village since 2003. The community features 90 skilled nursing beds, 18 personal care beds and five independent living rental cottages. PSL says it is divesting of the community to invest more resources in its continuing care retirement communities as …

March 19, 2024

Development News Pennsylvania

Marquis Starts Renovation Project at Campus in Harrisburg, Pennsylvania

by Jeff Shaw March 14, 2024

HARRISBURG, Pa. — Marquis Health Consulting Services has started a multi-million-dollar renovation at The Terraces at Capitol Village and Capitol Rehabilitation & Healthcare Center, a senior living and skilled nursing campus. The properties are located in Harrisburg, the state capital on the Susquehanna River in Central Pennsylvania. Work is set to begin this month at The Terraces at Capitol Village, a 64-unit personal care community. The undertaking will include a complete refresh of the lobby and hallways as well as the main dining room, activity room, theater and private dining …

March 14, 2024

Affordable Housing Development News Pennsylvania

Tryko Nears Completion of 46-Unit Cedarwood Homes Affordable Community in Pittsburgh

by Jeff Shaw February 23, 2024

PITTSBURGH — With construction progressing on schedule for a March 2024 delivery, leasing is underway at Cedarwood Homes in Pittsburgh’s West End. An on-site leasing office is now open at the age-restricted affordable housing community, marking a milestone for Tryko Partners’ redevelopment of the former Fairywood School site. Available to residents ages 62 and over, Cedarwood Homes includes seven market-rate apartments and 39 residences for those with incomes up to 60 percent of the area median income.

February 23, 2024

Affordable Housing Development Finance News Pennsylvania

HumanGood Receives $26.5M HUD Financing for Green Retrofit Projects in Philadelphia

by Jeff Shaw February 16, 2024

PHILADELPHIA — The U.S. Department of Housing and Urban Development (HUD) has awarded HumanGood $26.5 million in financing from the Green and Resilient Retrofit Program (GRRP), which provides funding for direct loans and grants to HUD-assisted multifamily properties to make sustainability updates. The following HumanGood affordable housing communities in Philadelphia were the only properties in Pennsylvania to receive the award in the comprehensive category in its first wave: The funds will help HumanGood meet sustainability goals, assisting in the renovation and preservation of 329 affordable seniors housing units. President Biden’s …

February 16, 2024

Finance News Pennsylvania Skilled Nursing

CFG Provides $9.5M HUD Refinancing for Skilled Nursing Facility in Pennsylvania

by Jeff Shaw January 12, 2024

PENNSYLVANIA — Capital Funding Group (CFG) has provided a $9.5 million HUD loan, which refinanced an existing bridge loan executed by CFG. The transaction supported a 173-bed skilled nursing facility in Pennsylvania. Further details on the property and borrower were not disclosed.

January 12, 2024

CCRC Development Independent Living News Pennsylvania

Spellman Brady & Completes Interior Design for Friendship Village of Tempe Expansion

by Jeff Shaw November 16, 2023

TEMPE, Ariz. — Spellman Brady & Co. (SBC) has completed the interior design for a new five-story, 64-unit independent living building for Friendship Village of Tempe. SBC was responsible for selecting the interior finishes, as well as the selection and procurement of the furnishings and artwork. The crowning highlight of the 142,619-square-foot building is the rooftop destination restaurant and brew house called Starfire. SBC collaborated with architecture firm Ryan A+E Inc. and general contractor Ryan Cos. US Inc. LCS Development, An LCS Company is the developer. Friendship Village of Tempe …

November 16, 2023

News Pennsylvania People

LCB Names Ashley Russo as Executive Director of The Residence at Bala Cynwyd

by Jeff Shaw November 16, 2023

BALA CYNWYD, Penn. — LCB Senior Living has named Ashley Russo as executive director of The Residence at Bala Cynwyd, an assisted living and memory care community in the Philadelphia suburb of Bala Cynwyd. Russo holds master’s degrees in gerontology and health administration from the University of Southern California, as well as a bachelor’s degree in communications from Rider University. She is a Certified Assisted Living Administrator, a Certified Dementia Practitioner, and is pursuing a license as a Personal Care Home Administrator. Russo has 15 years’ experience in the senior …

November 16, 2023

Acquisitions Assisted Living News Pennsylvania

Blueprint Arranges Sales of Two Communities in Metro Philadelphia

by Jeff Shaw October 20, 2023

PHILADELPHIA — Blueprint Healthcare Real Estate Advisors has negotiated the sale of two Class A assisted living and memory care communities in the Philadelphia metro area. The seller was a national developer and investor. A joint venture between Persimmon Ventures and Capital Senior Ventures acquired the assets for an undisclosed price. Opened in 2016 and February 2020, the two communities are approximately 10 miles apart, comprise 200 units, and offer complementary asset profiles. While the smaller, 2016-vintage community had never fully stabilized, it had maintained modest in-place cashflow and showed …

October 20, 2023

Development News Pennsylvania

Distinctive Living Opens Crescent Fields at Huntingdon Valley in Pennsylvania

by Jeff Shaw September 26, 2023

HUNTINGDON VALLEY, Pa. — Distinctive Living has opened the doors on Crescent Fields at Huntingdon Valley, located in the northern Philadelphia suburb of Huntingdon Valley. The community offers independent living, assisted living and memory care services. The number of units was not disclosed. Westrum Development Co., a leading residential real estate developer in the Mid-Atlantic region with senior living communities completed or planned across the Philadelphia metro area, partnered on the development. Distinctive Living currently operates 27 communities and has 20 under development via its development services platform, Distinctive Living …

September 26, 2023

Acquisitions CCRC News Pennsylvania

Presbyterian Senior Living Acquires 532-Unit CCRC in Doylestown, Pennsylvania

by Jeff Shaw September 8, 2023

DOYLESTOWN, Pa. — Presbyterian Senior Living (PSL) has acquired Pine Run Life Plan Community, a 532-unit continuing care retirement community in Doylestown, approximately 25 miles north of Philadelphia. Doylestown Hospital sold the property for an undisclosed price. PSL is partnering with Doylestown Health at the community. Further details were not disclosed.

September 8, 2023

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