In the Pipeline: Senior Housing Construction Projects (3/13/13)

| March 13, 2013

Construction: Planned

New Skilled Nursing Facility Planned for Fargo

Eventide Senior Living Communities will break ground early this summer on a skilled nursing facility in Fargo, North Dakota, reports the local WDAY TV.

The facility will provide 90 private resident rooms for both long-term and short-term transitional care, and will be located at 32nd Avenue and 51st Street South, near Scheels Arena. 

Eventide, which already has campuses in Moorhead, West Fargo and Jamestown, says it also plans to include senior living apartments into the development.

Joint Venture Partners Announce New Senior Living Projects for San Antonio 

South Bay Partners, Ltd. and Integrated Real Estate Group (IREG) have announced plans for a senior living community that will provide a full continuum of care in San Antonio. 

The two companies expect to break ground this spring on a 192-apartment, 26-villa independent living community—Watercrest at Alamo Ranch—and a 105-unit, 122-bed assisted living and memory care community, Isle at Watercrest at Alamo Ranch.

The $60 million project will be located on 22 acres along Alamo Ranch Parkway and Westwood Loop in San Antonio.

The combined efforts of both South Bay Partners and IREG include campuses that combine independent living, assisted living, skilled nursing and Alzheimer’s facilities, like the community now planned for San Antonio. 

Indiana Senior Housing Community Planned with Tax Credit Help

Logansport City Council recently approved an amendment to the city’s zoning ordinance to allow senior housing on the ground floor of buildings in the city’s downtown, reports Pharos Tribune. 

Indianapolis-based Crestline Communities received a pledge of $6 million in tax credits from the state to transform the former McKinley school on Meadlawn Ave. into a 38-unit senior housing facility.

A 162-page market study commissioned by Crestline Communities in October revealed that there is a demand for age 55 and older households looking for apartments in the area. 

The Crestline project would fill about 8.6% of overall senior housing demand, according to Crestline President James Wilson, who expects the senior housing at McKinley to lease up within five to six months upon completion.

Currently, the planning department has yet to hear from any developers for downtown, reports the Tribune.

Investors, Developer Partner for Assisted Living & Memory Care Project

With the help of 15 local investors, a Lake Oconee, Georgia senior living community looks to break ground later this month. 

In partnership with Thrive Senior Living LLC, The Harbor at Harmony Crossing Assisted Living and Memory Care will be the product of investors from Green and Putnam Counties, along with developer Lowell White. 

The Harbor will contain 60 individual resident suites with approximately 41,000-square-feet in single-story construction, and will also be the first new facility in the surrounding area in over 15 years. 

Cutting edge technology will be integrated with the goal of sustaining resident quality of life, accurately tracking the health of residents, and boosting resident’s connectivity to their family and friends, as well as their physicians.

Pricing for The Harbor at Harmony Crossing will be “inclusive” and residents will not be subject to arbitrary rate fluctuations because of varying care levels.

Charlie Vill of Oconee Construction will serve as General Contractor. Financing for the project is being provided by State Bank and Trust based in Macon, Georgia. 

The community is scheduled to break ground March 2013, and is expected to be open for business in early 2014.

Construction: In the Process

Heritage Village Assisted Living Begins Construction on Mesa Project 

After nearly five years of planning and design, Heritage Village Assisted Living has begun construction on phase one with three additional phases planned over the next two years.

The community will be located on five acres on the southwest corner of Brown Road and the 202 Freeway in northeast Mesa, and will consist of eight single level luxury homes and one medical office building. 

Each home will accommodate 20 residents, and when developed the community will be home to 160 residents. 

Heritage Village intends to provide assisted living for those with specific needs such as dementia, Alzheimer’s and hospice, along with other unique services. 

Each luxury home in Heritage Village is approximately 6,500-square-feet with individuals private rooms and bathrooms for each resident.

Senior Housing Component of Ohio Multifamily Development Underway

Construction is already underway for Acorn Walk, a 32-acre development in north Kettering, Ohio, reports Daytona Daily News.

The project’s first phase will be a 24-unit senior apartment complex now currently under construction, and the public-private effort will include more than a dozen attached and detached single-family homes.

Funding for the project has arrived in the form of a $2.6 million federal grant from The Franklin Foundation, which has built three other senior apartment complexes in Kettering.

The Oberer Thompson Co. will develop the single homes, reports Daytona Daily News, which will be in the $140,000 range.

Construction on some of the Acorn Walk homes will begin in the spring. 

Long Beach, Ca. Breaks Ground on Affordable Senior Housing Project 

The city of Long Beach, Ca. broke ground Tuesday on a $22.5 million affordable housing apartment for low-income seniors, reports the local patch.

The 60-unit building will include 48 one-bedroom units and 12 two-bedroom units, as well as amenities including a swimming pool, library, computer room and entertainment areas. 

The new building will also meet the city’s green building standards and LEED certification, according to city officials.

Funding for the project will come from the Long Beach Housing Development Company, low-income housing tax credits and tax exempt bonds, and a loan from Farmers & Merchants Bank. 

The community is expected to be completed by April 2014.

Written by Jason Oliva


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Category: Development, Senior Housing, Senior Living

Comments (1)

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  1. Gary says:

    I like to see private investment money developing assisted living projects as any business venture. On the other hand, I don't like to see government grant money developing competitive product.

    It's like the government interfering with private enterprise by helping a few elitists at the expenses of those will to put everything into their businesses. What a shame. Another example of government run a muck.