New York City has joined in on a national effort to become more green and sustainable, and the opening of Serviam Gardens, a 243-unit green, affordable housing development for low- and moderate-income seniors in the Bronx, is a step in that direction with its Enterprise Green Communities Criteria (EGCC) adherence. The finished, 158-unit Serviam II, [...]
National Church Residences (NCR) recently began construction on its second senior facility, Avondale Senior Village, located in Dublin, Ohio. Upon its expected completion in late 2012, the affordable housing community will consist of 50 one-bedroom apartments and 50 two-bedroom apartments, for a total of 100 units. “National Church Residences is excited to bring yet another [...]
The Illinois Housing Development Authority (IHDA) announced the opening Shorewood Horizon Senior Living Community in Will County. IHDA financed the 51 new apartments with $5.5 million in federal American Recovery and Reinvestment Act, federal HOME funds and other federal and state resources on behalf of the administration. Federal Housing tax credits from IHDA provided an additional [...]
Dozens of Kendall County seniors living on a limited budget will have new affordable housing opportunities in spring 2012. Construction is set to start on the 60-unit Diamond Senior Apartments of Oswego as a result of the investment of the Illinois Housing Development Authority (IHDA), the state’s housing finance agency. IHDA financed $1.6 million in [...]
Affiliates of BRIDGE announced the grand opening of Armstrong Place, an affordable housing development is San Francisco, CA last week. Over $41 million was invested in the project, which includes 116 units for seniors as well as 7,600 square feet of commercial space, community services and retail shops. Twenty-three of the apartments are set aside for [...]
The Oaks, an assisted living facility for low-income seniors, has recently been completed in Mena, Arkansas, about a decade after the project’s inception. A $100,000 Affordable Housing Program (AHP) grant from the Federal Home Loan Bank of Dallas (FHLB) and member institution Bank of the Ozarks was enough to complete funding and finish construction for the [...]
The Federal Home Loan Bank of San Francisco awarded $28.4 million in Affordable Housing Program (AHP) grants in the first round of its 2011 funding competition. The grants approved by the Bank’s Board of Directors in AHP Round A were awarded to 45 projects that address the diverse housing needs of communities in Arizona, California, [...]
The demand for senior housing continues and it’s driving long waiting lists in states like New Jersey. According to a report from Central Jersey, state officials opened a waiting list for senior citizens apartments in the six buildings operated by the Woodbridge Housing Authority. Before they accepted their first new application for one of the 415 [...]
A new $15.6 million senior development compromised of 81 one-bedroom and 24 two-bedroom apartments opened last week in Baltimore County. The Greens at Liberty Road was certified as meeting the requirements of the Enterprise Green Communities Criteria and includes three units with features for sensory impaired seniors. “Enterprise Homes is delighted to stand here today with our [...]
On the Record: Steven Insoft, CFO & COO of Aviv REIT
While publicly traded healthcare real estate investment trusts (REITs) like HCP, Inc., Ventas, Inc., and Health Care REIT Inc. grab a lot of headlines, privately traded ones like Aviv REIT often seem to fly under the radar. But as Senior Housing News recently discovered after speaking with Aviv’s Steven Insoft, who holds dual roles of [...]
On the Record: Majd Alwan, Executive Director of LeadingAge CAST
With technological advancements tied so closely to the future of senior care, Senior Housing News recently interviewed Majd Alwan, Ph.D., the Senior Vice President of Technology and Executive Director of the Center for Aging Services Technologies (CAST) at LeadingAge, an association of not-for-profit, long-term care providers of senior services. At any given time, CAST is [...]
On the Record: Keith Reuben, EVP of Commercial & Specialty Lending at Capital One Bank
In the past 30 years, Capital One has transformed itself from “just” a credit card company into one of the U.S.’s top banks. And as part of its lending arm, Capital One Bank says it has a significant focus on its commercial and specialty finance business, which encompasses senior housing and care lending. Last Fall, [...]
On the Record: Adam Kane, SVP of Corporate Affairs at Erickson Living
In 2009, the company known as Erickson Retirement Communities, headquartered in Baltimore, Md., filed for Chapter 11 bankruptcy protection. In December of that year, Hanover, Md.-based Redwood Capital Investments LLC bought most of the bankrupt company’s assets for $365 million, out of which emerged Erickson Living. Senior Housing News recently caught up with Adam Kane, [...]
On the Record: David Reis, CEO of Senior Care Development
After seeing that Senior Care Development, LLC had placed a stalking-horse bid on the bankrupt Clare at Water Tower, in Chicago’s Gold Coast, Senior Housing News tracked down its chief executive officer David Reis for an exclusive interview. Reis has extensive experience in senior living development, and specializes in ground-up development of large-scale continuing care [...]
