In the Pipeline: Senior Housing Construction Projects (5/29/14)

Construction: Planned

Groundbreaking Planned for $70M Oklahoma CCRC this Fall

Officials with Oklahoma City-based Epworth Villa plan to hold a groundbreaking for a new continuing care retirement community (CCRC) this fall in Stillwater, OK, reports Stillwater News Press.

The Ranch, which will be Stillwater’s first CCRC, will be located on 55 acres adjacent to Lakeside Golf Course. 

The approximately $70 million project calls for 150 living units, including 23 single-family cottages. A main building on campus will feature a commons area with a coffee shop, two restaurants, a wellness center, a chapel and other amenities, Epworth Villa said.

Los Angeles County Officials OK $160M Financing for California CCRC

Los Angeles County’s Board of Supervisors this week authorized up to $160 million in bond financing for a CCRC to be developed in Altadena, CA, reports the local Patch.

Developer MonteCedreo Inc. will own and operate the community located on 8.26 acres that were once occupied by The Scripps Home. 

The 331,000-square-foot project will include 206 units. Construction is scheduled to be completed in late 2015.

Bonaventure Senior Living Proposes CCRC Plans for Medford, Oregon

Salem, Oregon-based Bonaventure Senior Living is proposing plans to construct a CCRC on undeveloped land in Medford, OR, reports Mail Tribune.

The Medford Planning Commission last week recommended a broad zoning designation for a 5.28 acre parcel. The General Land Use Plan change now moves the proposal along to the City Council for a vote in June.

Wyndhaven Properties of Beaverton, OR, acquired the property for $3.2 million in October 2005. Since then, the commercial property firm has been actively seeking a buyer for several years. 

Bonaventure anticipates zoning and other entitlement approvals by the end of the year. 

Hill & Wilkinson Awarded Contract to Build New Assisted Living Project in Texas

Texas-based general contracting company Hill & Wilkinson has been awarded the construction contract for Rochester Springs, a new senior living development that will be built in Mansfield, TX.

The new 73,073-square-feet, two-story project includes 51 assisted living units and 44 memory care units, with construction costs totaling approximately $11.5 million.

Architectural design was provided by Dallas-based firm, three: living architecture, which incorporated its “flex rooms” design into the development, enabling rooms to adjust their function as assisted living or memory care units to meet demand.

The community will feature two interior courtyards, two dining venues, a salon, among other amenities. 

The ground floor will house two neighborhoods of memory care residences and common areas, while the second floor will feature assisted living residences with “European-inspired” kitchenettes and common areas. 

Pritchard Associates Inc. will serve as the construction manager for the project ad 12 Oaks Management Services Inc. will be the operator of the facility.

Construction is slated to begin in June with the finished project ready for residents by June 2015, Hill & Wilkinson stated in a release.

Chicago Bank Proposes $20M SNF for Illinois Medical District

Heavenrich & Co., a Chicago-based boutique investment bank, is proposing to build a $20 million, 90-bed skilled nursing facility in the Illinois Medical District located on the city’s Near West Side, reports Crain’s Chicago Business.

The facility would be located on nearly four acres and would likely include both short- and long-term care, all with private suites for patients who have been discharged from the hospital but need physical rehab before returning home.

Construction: In process

Meta Housing Begins $16.4M Affordable Senior Housing Project in Long Beach

Meta Housing Corporation announced this week the groundbreaking of a new 41-unit affordable housing complex for seniors in the City of Long Beach, California.

The $16.4 million project, dubbed Long Beach & 21st Apartments, will provide housing for seniors aged 55 and older and will feature a host of inclusive services for residents, including assistance with employment, money management, educational services, as well as support in obtaining health and dental care as needed.

These services will be provided by Meta Housing’s development partner on the project, PATH Ventures.

The four-story community will consist of one- and two-bedroom floor plans, and will feature a variety of amenities, including a community room, kitchen, library and roof deck.

Bank of America provided construction financing and equity for the project, which is the 12th development the bank has partnered with Meta Housing.

PSL Architects provided architectural design for the project, which also has a LEED Silver designation from the U.S. Green Building Council. 

Completion of the Long Beach & 21st Apartments is expected for the Summer of 2015.

Ryan Companies Break Ground on $29M Senior Living Community

Ryan Companies broke ground this week on a $29 million senior living community in Maple Grove, Minnesota, local ABC News reports.

SilverCreek on Main is a new $29 million center that will offer independent, assisted living and memory care within the community’s 195 units.

On-site amenities include a full-sized pool and separate therapy pool, among other amenities. 

A completion by Summer 2015 is expected.

Construction: Completed

Presbyterian Senior Living Completes $24.5M CCRC Expansion

Presbyterian Senior Living will soon hold a grand opening for Vista Ridge, the newest part of a $24.5 million expansion for its Ware Presbyterian Village CCRC in Oxford, Pennsylvania, reports Philadelphia City Biz List.

The expansion features new community space as well as new independent living and carriage homes.

Also included as part of the expansion is a new Pavilion Club House, which features restaurant-style and bistro dining options. The two-story complex also offers private dining rooms and a cultural arts auditorium.

An adjacent building provides 31 one- and two-bedroom apartments, each apartment offering one underground parking space for its inhabitant. 

The eight carriage homes included in the expansion are independent living duplexes that add to the community’s existing 79 independent living villas, 52 assisted living apartments and studios and 137 skilled nursing residences.

Vista Ridge’s grand opening event will be held June 5. 

Written by Jason Oliva