In the Pipeline: Senior Housing Construction Projects (5/16/2012)

Construction: Planned

INVENCO Seniors Housing to Build ALF in Fla. for Veterans

INVENCO Seniors Housing, LLC, will pioneer an operating plan to help U.S. veterans find affordable housing solutions for a Viera, Fla.-located assisted living center meant to affordably house U.S. veterans.

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Viera Manor Assisted Living Facility will give veterans priority admission for 80% of available units, in addition to a 10% discount off of estimated market rental rates. The facility will have 86 units and 102 licensed beds, and resident veterans will have access to the Veterans Association Clinic, located adjacent to the project site.

Love Funding provided $8.56 million in construction and permanent financing loans, led by senior director Laura Saull-Smith.

“This innovative VA program is designed to give veterans access to high-quality, affordable housing that meets all of their needs,” said John Goode, a managing member at INVENCO. “We are proud the VA chose us to provide that level of service to the men and women who have provided so much for our country. The Love Funding team led by Laura guided the financing to an optimal outcome. The tenacity and commitment they demonstrated in providing all the services this one-of-a-kind financing required was truly remarkable.”

NRP Group Planning Affordable Senior Housing Complex in Ohio With $1.2 Million in Tax Credits

Developer NRP Group is a planning an affordable senior housing complex in Kent, Ohio, after getting $1.2 million in tax credits from the Ohio Housing Finance Agency, reports Ohio.com. The city will also contribute $250,000 form its Community Housing Improvement Program.

The development project is being called Four Seasons at Golden Pond and will help replace Silver Oaks Place, a retirement community that was sold last year and converted into student housing, forcing its elderly residents to relocated with only a couple months’ notice, the article notes.

Kent’s Planning Commission has already approved the preliminary site plan for Four Seasons, and NRP Group is in ongoing discussions on how to finance the project.

Lutheran Social Ministries Plans Affordable Senior Housing Project in NJ

Nonprofit housing development organization Lutheran Social Ministries recently got approval for final site plans for an affordable senior housing project located in Cinnaminson, New Jersey, reports the local Patch.com.

Plans including razing most of an old building (the Cinnaminson Home) but leaving a historic brick section intact, then building 55 units of affordable senior housing; Lutheran Social Ministries is waiting for final approvals from the county.

Omni Health Systems to Build New Jersey Nursing & Rehab Facility

Omni Heath Systems plans to build a 120-bed nursing and rehabilitation facility in Bayonne, New Jersey, with construction expected to begin this summer, reports The Jersey Journal. Original construction plans were delayed after legal issues concerning the previous owners of the site, but the project is now moving forward with scaled-down plans due to economic reasons.

The original plans featured a 10-story building and were approved in 2009, but revised plans have since been submitted to the city for a building with the same number of beds but less office space and parking, according to an Omni attorney. The amended plans are now being considered by the city’s Planning Board.

The Shelter Group Gets Permission to Build New Jersey Assisted Living Facility

The Shelter Group is in the beginning stages of building a senior living facility in Paramus, N.J., and recently obtained permission to build on a nine-acre plot of land from the local Zoning Board of Adjustment, reports the local Patch.com.

The Shelter Group is planning a 144-unit facility with 70 independent living units, 48 assisted living units, and 26 dementia care units, on a plot of land it’s taking over from Greenland Landscape Company.

Fifteen of the units will be reserved for affordable senior housing.

The Freshwater Group to Build $26 Million Senior Care Campus in Tucson

The Freshwater Group plans to break ground on a $26 million senior care community in Tucson, Ariz. next March. The first phase of construction will include assisted living, memory care, health care, and long-term care suites, along with an in-patient and out-patient rehab center; the second face will include hospice suites and a medical office building.

The first phase of construction on The Haciendas at The River is expected to cost approximately $20 million and will include the following unit mix:

  • Assisted Living:2 Hacienda Homes at 14 bedrooms each = 28 units/28 beds
  • Memory Care:2 Hacienda Homes at 14 bedrooms/18 beds = 28 units/36 beds
  • Health Care:40 private rehab suites; 2 semi private suites = 42 units/44 beds
  • 12 private long term care suites (in a Hacienda Home configuration) = 12 beds
  • In-patient and Out-patient Rehab Centers
The second phase of construction will cost approximately $6 million and will include 12 private hospice suites (in a Hacienda Home configuration) and a 15,000-square-foot medical office.
The Freshwater Group expects to break ground on the first phase of construction in March 2013, with an expected completion by the following May. The second phase will begin in the summer of 2014, with expected completion the following summer.
Watermark Retirement Communities will operate the community.

Construction: Completed

Kenwood Opens Skilled Nursing Center to Offer Complete Care Continuum

The Kenwood by Senior Star recently announced the grand opening of “Pathways at The Kenwood,” the continuing care retirement community’s (CCRC) new skilled nursing center.

Pathways offers private apartments and two-bedroom suites for long-term care and short-term rehab. The facility received its licensing on April 13 and is already at 36% occupancy.

The Kenwood also offers independent living, assisted living, and memory support, besides skilled nursing and short-term rehab. The 16-story, 268-unit community provides other onsite amenities that include a spa, health club, transportation, and cultural and educational programs.

Senior Living Group Opens Kansas City Assisted Living Facility

Senior Living Group recently held an open house for Benton House, an assisted living facility located at 9601 N. Tullis Drive in Shoal Creek Valley, near Kansas City, Mo., reports KC Community News.

Benton House has capacity for 80 residents and is currently in lease-up, with about 50% of its living areas reserved. The private-pay facility offers 47 assisted living studios and one-bedroom suites and 12 memory care suites along with a hair salon, barber shop, laundry facilities, and a kitchen.

The newly opened Benton House is part of Benson Place, a mixed-use community that includes single-family and town and patio homes with nearby shopping, restaurants, doctors’ offices, and a hospital. Benson Place, located on 500 acres of land, also offers adult daycare for give family caregivers respite.

“Benson Place offers housing options that meet the needs of multiple generations,” said Ora Reynolds, persident of Hunt Midwest Real Estate Development Inc., in a statement. “Research shows that adult children want grandma and grandpa nearby. The addition of Benton House to the Benson Place community gives senior citizens the option of living in the same community as their children and grandchildren when they are ready to move to a senior living facility.”

Senior Living Group is also working with Hunt Midwest to develop another assisted living facility in Prairie Village, Kan., and recently celebrated the opening of another in Lee’s Summit; a fourth facility in the area is being considered.

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