In the Pipeline: Senior Housing Construction Projects (4/25/2012)

Pennrose Properties to Build and Manage $19 million LGBT Senior Housing Complex in Philly

Pennrose Properties is planning a $19 million affordable senior housing complex in a Philadelphia location known as the “Gayborhood,” reports Pride Source. The development firm recently received $8 million in financing from the Pennsylvania Housing Finance Agency, and plans to obtain the remaining funding for the project from selling tax credits to a private investor.

The complex will have 56 units and will be marketed as LGBT-friendly. Groundbreaking is expected to occur in October, with the first residents slated to move in about 15 months after construction begins.

Ohio Senior Housing Developments Get $1.4 Million in Tax Credits

Two low- to moderate-income senior housing developments in Clark County, Ohio recently obtained nearly $1.4 million in federal tax credits, according to the Springfield News-Sun.

In Springfield, Ohio, Westerville-based development company The Woda Group plans to build a 44-unit senior housing development on the site of a former elementary school, located at 1452 S. Wittenberge Ave. The project received nearly $800,000 in credits from the Ohio Housing Finance Agency, while the total cost of the project is an estimated $7.3 million. The Woda Group expects to begin construction later this year pending financing and rezoning approval.

Also in Springfield, nonprofit Interfaith Hospitality Network received nearly $600,000 in credits for a 26-unit permanent supportive housing complex, a project that will cost an estimated $5 million. The organization plans to partner with local groups to offer supportive services.

Presbyterian Manors Subsidiary Celebrates Grand Opening of Missouri Senior Living Community

Ashfield Active Living and Wellness Communities, Inc., a wholly-owned corporation of Presbyterian Manors of Mid-America, Inc., recently celebrated the grand opening of Aberdeen Heights, a senior living community located near St. Louis, Missouri.

Aberdeen Heights officially opened last September and already has 200 seniors in residence, but will mark the completion of all phases of construction and move-ins the week of April 23.

The community, located in Kirkwood, features 243 maintenance-free independent living apartment units with restaurant-style dining, a fitness center, indoor pool, creative arts studio, salon and spa, and underground garage parking. The campus also includes an on-site healthcare center with 30 assisted living apartments, 15 memory support units, and 38 skilled nursing rooms.

Catholic Charities Opens $12.6 Million Senior Housing & Care Facility in Maryland

Catholic Charities of Baltimore recently marked the opening of its $12.6 million project, the Green House Residences, a senior housing and skilled nursing care facility located in Baltimore County, Md., reports The Daily Record.

Developed by Govans Ecumenical Development Corp., the four-story, 48-bedroom Green House Residences will be operated by Catholic Charities. Each room is located off of a central living area and has its own private bathroom; there’s a kitchen on each floor where residents can eat meals together.

“It’s a radically different way of providing long-term care,” said Nate Sweeney, the facility’s administrator, in the article. “We’re de-institutionalizing the elders environment. Families walk in and their faces change. They see what can and should be offered. It’s a wave of relief. It’s hope.”

Ovation Development Corporation to Break Ground on $10.7 Million Senior Apartment Complex in Vegas

Ovation Development Corporation and nonprofit group Silver Sage Manor will break ground on a new senior apartment complex in Las Vegas in early May, according to Las Vegas’ local Fox News station.

Lone Mountain Senior Apartments will have 75 rental units and will be located at 4652 N. Rainbow Blvd. It will offer barrier-free, cost-effective supportive senior housing for those aged 55 and older, with 65 units reserved for low-income seniors whose income is at or below 40% of the area median income.

The three-story structure will include 45 one-bedroom and 30 two-bedroom units; each will feature high-efficiency heating and cooling equipment, EnergyStar appliances, and photovoltaic solar generation that’s expected to offset more than 10% of projected electrical consumption.

Lone Mountain Senior Apartments will also feature a swimming pool and spa, community spaces, a game area, exercise room, and shared kitchen for social events.

More than 80% of the project’s funding will come from Federal Low-Income Housing Tax Credits.

Pennsylvania Collaboration to Develop $28 Million Multi-Use Senior Housing Development

Four local Pennsylvania agencies, Advanced Living Communities, the North Penn YMCA, the PEAK Center, and Manna on Main Street, are partnering on a project to develop a $28 million multi-use senior housing project in Lansdale, Pa., according to The Reporter.

Funding for the project could come from the Pennsylvania Housing Finance Agency, and officials from all four of the involved agencies along with the PHFA recently met with others from Lansdale borough and the North Penn Community Health Foundation, which is facilitating the joint venture, to present plans for the project to the public and stakeholders.

The development, which would be located adjacent to the local YMCA at 608 E. Main Street in Lansdale, would combine 60 apartment-style homes for low-income seniors with a combined lobby, meeting and event space for the PEAK center, and a cafeteria staffed by Manna on Main Street, connected to the YMCA through a combined lobby and hallway.