Chicago City Council Approves $23 Million Senior Living Community Plans
Chicago Heights SLF LLC has been approved by the Chicago City Council to buy vacant, city-owned land located at 1040 Dixie Highway for the development of a senior citizen supportive living facility, reports nwi.com.
The proposed project, which will be on the site of the former Hacienda Hotel, would cost about $23 million and involves developing a 144-unit, three-story building into 62+ housing who are in need of assisted living.
“In essence, we are going to sell the property to Chicago Heights SLF for the sum of $1 and the waiver of any application fees or permit fees,” Corporation Counsel T.J. Somer said. “In exchange for that, they will waive any other economic incentives, such as TIF (tax increment financing) reimbursements.”
Groundbreaking could occur as early as May, and construction is expected to take around 10 to 12 months.
Senior Affordable Apartments Coming to Mooresville, N.C.
Ohio-based developer Miller-Valentine Group has permission from the Mooresville Board of Commissioners to build a three-story, 90,825-square-foot one- and two-bedroom apartment building in Mooresville, N.C. for a total of 84 senior living apartments, reports the Charlotte Observer.
The complex will be for 55+ active seniors and will feature 678-square-feet one-bedroom apartments with rents ranging from $350 to 696 a month, an 902-square-feet two-bedroom apartments with rents between $417 and $835. Half of the apartments will be one-bedroom, and the other half will have two.
The complex will be for independent living and will cater primarily to a 70-to-84 age group. The development is located on 12 acres of land, and is scheduled to open in April 2014.
First Phoenix Group to Develop $13 Million Wisconsin Assisted Living Center
First Phoenix Group recently began construction on a $13 million Stoney River Assisted Living project, located in Weston, Wisconsin at 7805 Birch St. It will be a 75 unit facility with 68,000 square feet, and will feature community areas for eating and socializing, along with a theater, fitness center, laundry area, and barber shop. Residents’ private spaces will include a small cooking area and private bathroom. The project is receiving a $650,000 grant from Weston, and has a completion deadline of April 1, 2013.
Boomer Growth Spurs Expansion Project at Erickson-Managed Maryland Senior Living Community
The Charlestown retirement community, located in Catonsville, Md., is undergoing a modernization project that’s designed to meet the needs of the growing Baby Boomer population in the Baltimore area.
The community is the flagship campus of Baltimore-based Erickson Living. The three-phase, $28 million project will expand the Charlestown Square clubhouse, restyle and expand the Edgewood residential building, and construct four new elevators on the 110-acre Catonsville campus.
Marks, Thomas Architects is the project designer, with Harkins Builders as general contract. Charlestown’s occupancy rate is at 96%, significantly higher than the industry average of 88.2%.
The restyled Edgewood residential building will open in 2013 and have five one-bedroom, 12 one-bedroom with den, and 32 two-bedroom apartment homes. The clubhouse will expand from 35,000 square feet to more than 55,000 square feet and will feature a larger computer lab and beauty salon, an expanded market with a new cafe area, additional new classrooms, and a new banquet room. The fitness center will triple in size to include more space for cardio and strength-training equipment, a studio for group classes, and a larger locker room pace.
Los Altos Senior Living Community to Begin $100 Million Expansion Project
The Terraces at Los Altos senior living community in California is about to break ground on its first phase of a $100 million community transformation project, which will include new residential living apartments, assisted living apartments, skilled nursing suites, memory support suites and a commons area with new community amenities.
Construction will begin March 22 with a groundbreaking ceremony to kick off Phase I, during which The Village’s 30 skilled nursing suites will be built, along with The Grove’s 16 private suites for Alzheimer’s and memory care.
Phase II will include The Lodge, with 30 assisted living residences, followed by Phase II, which will begin with 81 new residential living apartments and will include a fitness center, restaurant-style dining venues, a library, and a movie theatre.
The Terraces at Los Altos is owned and managed by ABHOW, a California nonprofit public benefit corporation.
Covenant HealthCare & Wolgast Partner for $5.2 Million Senior Living Apartment Project in Michigan
Wolgast Corp. and Covenant HealthCare will partner with the Michigan city of Saginaw to build the $5.2 million Bliss Park Senior Housing Development. Construction on the affordable apartment building, located at 1111 N. Harrison, is expected to be completed in October of this year.
The project design includes 17 one-bedroom and 18 two-bedroom apartments, along with a beauty/barber room, a computer room, and an exercise room.
Saginaw is contributing a $3 million, 15-year development loan through HUD Neighborhood Stabilization funding, with Great Lakes Capital Fund investing $1.8 million to purchase tax credits the project qualifies for. Another $400,000 in funding comes from deferred development fees.