In the Pipeline: Senior Housing Construction Projects (1/30/13)

| January 30, 2013

Construction: Planned

Trilogy Health Services, Silvercrest Plan $20 Million Indiana Project

Trilogy Health Services LLC is partnering with real estate developer Matt Chalfant, dba Silvercrest LLC, in a previously announced project to convert the former Silvercrest Children’s Development Center into a senior living complex. The project, located in New Albany, Indiana, would reportedly cost about $20 million, according to Business First

Heritage Senior Living to Break Ground on 90-Unit Pa. ALF

Heritage Senior Living will soon commence work to prepare for a senior living community in Newtown Township outside of Philadelphia, Pa., according to PhillyBurbs.com.

The Birches will be a two-story, 87,000-square foot community with 45 units each of assisted living and memory care located on a 9.5-acre site.

Seven existing, abandoned buildings on the site must first be demolished, and and 488 trees will also have to be removed with 200 being replaced elsewhere on the lot. The demolition work is expected to be completed within three months. 

Alden Network Planning Multi-Million Ill. CCRC

Chicago-based Alden Network is planning a multi-million senior living development for the Huntley Village community near Lake in the Hills, Ill., reports the local Patch.

The proposed 13-acre campus would include a 50-bed memory care building, a 100-bed nursing and rehab building, and about 100 units for independent living.

Alden Network presented plans for the project to the Huntley Village Board on Jan. 17, but likely wouldn’t begin construction until next year and still needs to obtain a certificate of need from the Illinois Health Facilities and Services Review Board for the skilled nursing beds, according to First Electric Newspaper.

Construction: In the Process

Methodist Retirement Communities Gets Funding, Starts Expansion Project

Methodist Retirement Communities (MRC) of The Woodlands, in Texas, has secured initial temporary financing enabling it to move ahead with an expansion project at The Crossings, its newest CCRC. 

The organization was able to secure $7.6 million in bond anticipation notes (BANS) funding as pre-finance capital, allowing the community to begin pre-marketing efforts and also to move forward with architectural renderings, interior designs, and other development activities. Repayment is targeted for completion in 2014′s third quarter, based on pre-sales of the community’s independent living units.

In June, MRC entered an agreement with the Florida-based Regency Realty Group, Inc. to buy an 18.81 acre site in Galveston, County, Tex. Construction on the community is expected to begin by the end of 2014, with plans calling for 108 independent or residential apartment homes, 36 assisted living apartments, 24 memory support suites, 20 short-term rehabilitation units, and 28 skilled nursing units. 

Geystone COmmunities will be the project developer, with Perkins+Will as project architect and Wis Builders as general contractor. Faulkner Design Group will provide interior design services, and Ziegler is serving as the lead underwriter. 

MRC will manage the property upon completion. 

Mainstreet and LCS Partnership Break Ground on $14.4 Million Senior Development

Mainstreet and LCS have broken ground on their joint $14.4 million senior care development project in Avon, Ind., across from Indiana University Health Hospital, reports Inside Indiana Business.

Wellbrooke of Avon is expected to open in July 2013 and will offer 100 all-private, service-enriched residential apartments and private suites for rehabilitative and long-term care. 

The development will have an emphasis on social features to encourage interaction with family and friends, says Zeke Turner, chairman and CEO of Mainstreet. Wellbrooke of Avon will also have concierge-style services provided by management company Life Care Services. 

Both Mainstreet and LCS also plan to work with other community resources to identify collaboration opportunities with the healthcare center and local partners. 

Construction: Completed

Dialysis Center Opens in County Nursing Home in Ohio 

The Ashtabula County Nursing and Rehabilitation Center in Kingsville, Ohio recently opened a new dialysis center, reports the Star Beacon, open to both residents and nonresidents. 

The DaVita center needs to get a random inspection before being able to begin full-time operation, expected to take place in the next six weeks. 

A dialysis company is leasing space from Ashtabula County to provide the dialysis service, and the lease will provide income for the county-run nursing home. Another benefit is that the center may attract more residents to the facility, and a member of the nursing home management team believes it could become a marketing tool.

That could be especially significant, as Generations Healthcare, which manages the nursing home for the county, is forecasting 2013′s financial performance to mirror 2012′s break-even scenario. 


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Category: Architecture, Development, Finance, Senior Care, Senior Housing

Comments (2)

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  1. Chris_Foley says:

    A Dialysis Center within a nursing home ("Dialysis Center Opens in County Nursing Home in Ohio") is something that seems relatively unheard of. Seems to be a very good option for nursing homes who are looking to diversify their income and continue to offer more services within their buildings._This may also lower the capital requirement for opening new Dialysis Centers especially for DaVita whose preference traditionally is stand-alone buildings._Chris Foley_Sr. V.P._Equity Seniors Housing Brokerage & Advisors_cfoley@Equity.net

  2. Sue Rosenorn says:

    Tried to work at a new Aldens in Shorewood, Illinois but they could not get certified.