In the Pipeline: Senior Housing Construction Projects (8/1/2012)

Construction: Planned

The LaSalle Group to Build $10.2 Million Memory Care Community in Illinois

The LaSalle Group recently announced plans to build a 26,000-square-foot, $10.2 million memory care and assisted living community in Bolingbrook, Ill., under its Autumn Leaves brand.

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The project results from a partnership between The LaSalle Group, RT Partners, and local lender HMO Harris Bank.

“Even during the more challenging financial markets, the financial institutions understand the need for the care we offer,” said Brenda Brantley, Chief Financial Officer of The LaSalle Group. “With the help of local banks, we have been able to expand in the Chicagoland area, and serve more families struggling with caring for a loved one with Alzheimer’s or dementia.”

MRE Capital to Convert Kansas Nursing Home to Senior Apartment Complex

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Developer MRE Capital plans to convert a former nursing home in Bonner Springs, Kan., to a senior housing apartment complex, reports the Basehor Sentinel. The Bonner Springs Planning Commission approved site and landscape plans for the building this week.

The age-restricted development, Maple Ridge, will include 32 one-bedroom units located in the building’s four wings. Parking spaces for 48 vehicles will be available.

A community space will be located at the center of the building complete with an activity room, exercise and game room, sitting room, laundry room, a salon and storage space.

Hawthorn Retirement Group Plans $12 Million Independent Living Development

Senior housing firm Hawthorn Retirement Group LLC, based in Vancouver, Wash., is planning a $12 million independent living development in Lake County, Fla., reports the local Business Journal.

Plans for Clermont Retirement Residence include a three-story, 40,646-square-foot 55+ building with 126 beds.

Construction is expected to commence in the fourth quarter of 2012 or early 2013 on a 5.54 acre vacant plot. Salem, Ore.-based Colson & Colson General Contractor Inc. is the project’s general contractor.

Corrales Senior Living Plans $60 Million Senior Living Project

Corrales Senior Living LLC is planning a $60 million upscale senior living community in the Albuquerque, N.M. metro area, reports the local Business Weekly.

The planned Villas in Corrales would be a continuing care retirement community that is expected to break ground this fall. The project is awaiting loan guarantees from the Department of Housing and Urban Development and will feature a total of 220 apartment units located on 15.5 acres of land.

Living Well Lodges Plans $26 Million Senior Housing Project in Florida

Real estate developer Living Well Lodges LLC, based in Mount Dora, Fla., is planning to build a $26 million senior housing project in Clermont, Fla., reports the local Business Journal.

The community will have 75 assisted living beds and a 50-bed memory care unit. The developer plans to finance the project with $22 million in tax-exempt municipal bonds and $4 million in taxable bonds approved by the Lake County Commission.

Ebenezer to Break Ground on $12 Million Expansion to Minn. Community

Ebenezer Management Services, based in Minneapolis, will soon break ground on a $12 million expansion project to its five-acre Arbors at Ridges campus in Burnsville, Minn., according to Finance & Commerce.

The senior housing provider is adding a three-story, 63-unit assisted living building, which is scheduled to break ground on August 8. The new development will include patios, gardens, a four-season porch, walking paths, a movie theater, library, beauty and barber shop, physical therapy space, a clubroom, dining rooms, chapel, coffee shop, gift shop and lounges. The new building will also include six care suites for post-operative and therapy residents.

Kraus-Anderson Construction, based in Minneapolis, and Sperides Reiners Architects, based in Bloomington, are leading the project and expect to finish construction by spring of 2013.

Upon completion, residents from an existing 44-unit assisted living building on the Arbors campus will move into the new structure, and then the old building will be converted into memory care units in a project that’s separate from the $12 million construction project.

The construction will be privately financed.

Gardner Development Proposes Missouri Senior Housing Complex

Gardner Development is proposing an affordable senior housing development for St. Peters, Mo., reports

Plans include up to 76 senior housing units in several one-story buildings constructed in two phases. The local Board of Aldermen unanimously approved a resolution last Thursday supporting the development. The next step is to submit a site plan and rezoning application to the city so that the site can be rezoned from commercial to planned urban development.

The development company plans to apply to the Missouri Housing Development Commission in September for tax credits to help finance the project, says the article.

The housing complex will be age restricted to 55+, and the income of potential residents will be based on area median income for St. Peters and must fall below a certain level.

Construction: In the Process

Nexus Companies Breaks Ground on Calif. Retirement Community

Nexus Companies is in the process of building a retirement community in Costa Mesa, Calif. The new 200,000-square-foot development is located on a seven acre campus and is expected to be completed in the fall of 2013.

The development will have a total of 185 units; 55 of them have already been pre-leased. The community will have a secured memory care facility with 40 units.

The community’s amenities will include a n indoor saltwater pool, fitness center, spa, daily group exercises, yoga deck, physical therapy, serenity garden, reflexology footpath, putting green and bocce ball court. Other services include 24/7 concierge, personal care and assisted living services, chauffeur services, pet care, move-in services, housekeeping, and personal shopping and laundry services.

Each resident will get an iPad with an application that allows communication among family and staff; residents can use the iPad to view activities and menus and request maintenance and repairs.

Upon completion, Integral Senior Living will manage the community.

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