In the Pipeline: Senior Housing Construction Projects (1/9/13)

| January 9, 2013

Construction: Planned

Lutheran Senior Services Plans $7 Million Expansion Project

Lutheran Senior Services is planning a $7 million expansion to its Meramec Bluffs senior living community in Ballwin, Mo. and has hired St. Louis-based general contractor Paric for the project. 

The expansion will add 31 skilled nursing beds to bring the community’s total to 119 licensed beds. 

Hendricks Communities to Build $4.5 Million Senior Complex in Colorado

Colorado-based Hendricks Communities LLC is developing a $4.5 million senior living complex in Brighton expected to break ground in January, reports Northern Colorado Business Report

The Libretto Apartments will include a 26,000-square-foot complex containing 28 of the project’s total 68 units for the first phase of construction. The apartments will be for independent living. 

US Bank is supplying the financing for the project, which includes the redevelopment of a former library building. The campus is a joint venture development with the Brighton Housing Authority. 

Township Acquires Property for Senior Housing Development

The Saddle Brook, N.J. township has been approved to buy the site of a former nursing home with plans to build low-income senior housing, reports NorthJersey.com. The Bergen County Housing Authority will oversee the project, intended for seniors aged 62 and older meeting certain income requirements.

Current plans include a two-story building with 30 rooms. The township will appropriate about $850,000 of the $1.6 million in available funds that have been collected by developers over the years that must be put toward a Council on Affordable Housing project, according to the article. 

Spectrum Retirement Communities Planning Oregon Senior Community 

Spectrum Retirement is planning the development of an assisted living community in Eugene, Ore., reports The Register-Guard.

Crescent Park Senior Living will have 119 units in a 116,000-square-foot, three-story building on about six acres. 

The community will offer studio, one-bedroom, and two-bedroom apartments, along with two to three daily meals, activities, and scheduled transportation for medical appointments and other errands. 

Spectrum bought the 5.8 acre site for the community in 2012 for $1.1 million, according to The Register-Guard, but doesn’t yet have an estimate for development costs. Construction is expected to be completed in Summer 2014.

LCS, Westminster Funds to Develop $120 Million CCRC in Fla. 

Life Care Services LLC is partnering with real estate investment firm Westminster Funds to develop a $120 million continuing care retirement community in Florida, reports NaplesNews.com.

Construction on Siena Lakes is expected to begin in the “near future,” according to Kent Larson, senior vice president of LCS, but it won’t begin until 70% of the community’s first phase of units have been presold.

The rental-model CCRC will have 340 independent living apartments, 20 assisted living apartments, 45 skilled nursing beds, and 15 memory care beds. It will be built in two phases, with the first phase including about 200 independent living units. 

The community’s common areas will include multiple dining rooms, a cocktail lounge, convenience store, auditorium, bank branch, postal outlet, library, game room, guest rooms, and a business center. There will also be a wellness center that will have an indoor pool, locker rooms, exercise rooms, massage rooms, a barber/beauty shop, and a clinic with offices and examination rooms. 

LCS has been under contract to buy the site for the CCRC for at least four years, according to NaplesNews.com, but hasn’t yet closed on the property although it has received zoning approval for the development. 

Bienestar Inc. Planning $15 Million Senior Housing Development in Oregon

Bienestar Inc., a nonprofit formerly known as the Housing Development corporation of Northwest Oregon, recently announced plans for a $15 million senior housing development in Hillsboro, Ore., reports The Oregonian

The 74-unit development would be a four-story building serving independent and active seniors. The 0.85 acre site is currently home to Donelson House, which will be restored as part of the project, and a vacant funeral home that will be demolished.

Bienestar was abel to acquire the property for $910,000 in November, with the Network for Oregon Affordable Housing, a nonprofit group of investors, providing the primary acquisition loan for the purchase. Washington County’s Office of Community Development is contributing $150,000 toward predevelopment costs, according to county officials cited in the article. While Bienestar may apply for up to $1.5 million from the federal Home Investment Partnerships Program, most of the project financing will come from the Low Income Housing Tax Credit Program.

Scott Edwards Architecture will provide design services, although construction is not likely to start until 2015 at the earliest. 

Construction: Completed

 

Los Angeles Jewish Home Opens Senior Care Center

 

Los Angeles Jewish Home announced in early January the opening of the Brandman Centers for Senior Care, a PACE (Program of All-inclusive Care for the Elderly) initiative through California’s Medicare/Medi-Cal program that delivers nursing home-level care services to seniors while allowing them to remain in their homes or apartments.

 

The PACE Center is on the Jewish Home’s Grancell Village Campus in Reseda, Calif. It will offer eligible, 55+ seniors a variety of services including primary medical care, medical specialty services, vision, dental, hearing, foot care, prescription drugs, laboratory and diagnostic services, medical supplies and equipment, nursing and preventive healthcare, physical, occupational, and speech therapy, and transportation to and from the center and for medical appointments.

 

Additionally, seniors will be able to use nutritional services ranging from meal planning for special diets to meals while at the center, and meals delivered to the senior’s home if needed. BCSC/PACE also covers ambulance services, hospital care, home healthcare and more—even a nursing home stay when necessary.

 

Meta Housing Corp. Opens Senior Housing Community With On-Site Theatre

 

Meta Housing Corporation recently opened a $32 million senior apartment community in North Hollywood, Calif., catering to artists.

 

NoHo Senior Arts Colony, a 126-unit, 204,039-square-foot complex, is the first development of its kind in the nation to include a professional on-site theatre.

 

The community features one- and two-bedroom floor plans and will also offer visual arts and film-editing studios, free educational arts classes, an an art-promoting environment. Other on-site amenities will include a modern fitness studio, eco-meditation garden, computer/business center, and a swimming pool. 

 

Meta Housing Corporation is partnering with Road Theatre Company in the project, and is collaborating with EngAGE, a nonprofit organization that will provide an integrated program of arts and wellness classes taught by college-level professionals, offered at no charge to the community’s residents. 

 

NoHo Senior Arts Colony is open to seniors aged 62 and older. It will be managed by Legacy Partners Residential.


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Category: Architecture, Development, Management & Operations, Senior Housing

Comments (1)

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  1. Chris_Foley says:

    It feels like there is a healthy mix of market rate, not-for-profit and low-income seniors housing and long-term care construction projects being announced and coming on line. From the projects above, it also seems like more options for seniors are becoming available from bigger $120 million projects to more traditional $4.5 million projects.
    Chris Foley
    Sr. VP
    Equity Seniors Housing Advisors
    cfoley@Equity.net