HHHunt Starts Construction of $23.2M Assisted Living Community Near Raleigh

by Jeff Shaw

CARY, N.C. — Real estate developer HHHunt has started construction of Spring Arbor of Cary, an 80-unit assisted living and memory care community in the Raleigh suburb of Cary. Development costs are estimated at $23.2 million.

The community will include 40 units of assisted living and 40 units of memory care in 72,087 square feet. It will be HHHunt’s 15th community in North Carolina when it opens in May 2017.

The developer also announced the completion of memory care conversions at two of its other communities in North Carolina, Spring Arbor of Albemarle and Spring Arbor of Durham. The costs were estimated at $1.3 million and $563,369, respectively.

The Spring Arbor of Albemarle expansion added 20 memory care beds in a 4,300-square-foot space. The Spring Arbor of Durham conversion added 16 beds.

Based in Blacksburg, Va., HHHunt has developed and manages 21 Spring Arbor-branded seniors housing communities in North Carolina, Virginia and Maryland. The company plans to start construction on or expand five communities this year, and begin construction on three new communities in 2017. The company estimates it will spend $179 million on seniors housing developments during 2016 and 2017.

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