In the Pipeline: Senior Housing Construction Projects (9/5/2012)

Construction: In the Process

Bravo Properties Breaks Ground on Two Ill. Affordable Assisted Living Communities

Oak Brook, Ill.-based Bravo Properties has broken ground on two affordable assisted living communities in the Chicago area: Deer Path Supportive Living of Huntley, Ill. and St. Anthony Supportive Living in Lansing, Ill.

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Deer Path will be the first northwest suburbs-located supportive living community built to serve physically disabled adults ages 22 to 64, and one of only three in the state. The $27.1 million project will contain 128 apartments. A subsidiary of Berkshire Hathaway, Inc., Affordable Housing Partners, invested nearly $5.4 million in equity, while the Upper Illinois River Valley Development Authority issued $19.7 million in tax-exempt bonds. The project is also being financed using McHenry County HOME Funds and a DCEO Energy Efficient Affordable Housing Construction program grant.

The $27.9 million St. Anthony community will have 135 apartments dedicated for adults aged 65 and older. Affordable Housing Partners invested more than $5.3 million in equity, while the Illinois Finance Authority issued $18.6 million in tax-exempt bonds. The project will also utilize Cook County HOME Funds and a DCEO Energy Efficient Affordable Housing Construction program grant.

BMA Management, Ltd. of Bradley, Ill. will manage the communities upon completion, which is slated for Summer of 2013. Sugar Grove, Ill.-based Gleason Architects, PC designed the project, with Oak Brook Terrace-based LedCor Construction as the general contract.

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The Congress Companies Begins Construction on Mass. Community Renovation

The Congress Companies recently began Phase 1 of a two-phased renovation and addition project at Golden Pond, a Hopkinton, Mass. assisted living community. The Peabody, Mass.-based construction firm was hired by repeat client Golden Pond Resident Care Corp. to provide construction management services.

Construction began in early August, with completion on the first phase of the project scheduled for Nov. 1 of this year. Phase 1 is focusing on community renovation, which will result in seven additional assisted living units in the existing building.

Khalsa Design Inc. of Somerville, Mass. designed the renovation and addition. Major subcontractors involved in the project include Wayne Griffin Electric; Superior Plumbing; Alternative Creative Energy & HVAC, Inc.; KG Jordan Site Work; Covenant Fire Protection; Upper Valley Drywall; and Tarr Demolition. 

After Phase 1 has been completed, Phase 2 will commence, which will include the construction of a new, three-story addition of 36,000 square feet consisting of 41 assisted living beds and 30 residential units. A Phase 3 has been planned and is projected to include approximately 64 assisted living beds housed in a 33,000-square-foot building. 

Shelter Resources Breaks Ground on 35-Unit Senior Living Complex

Shelter Resources Inc., broke ground earlier this month on a senior living apartment complex that is expected to house at least 35 residents in Kingston, Wash., reports the Kingston Community News

Healthcare company Martha & Mary contributed $600,000 to the project, and the county has pledged additional funds to the building’s construction.

The the complex, Martha & Mary Village Green Apartments, is set to include 24 one-bedroom and 11 two-bedroom units that range in size from 610 to 810 square feet. The city aims to offer affordable senior housing, and monthly rent, including utilities is expected to range from $685 to $890.

The senior apartments are planned to be built on one acre of a 13-acre community space; developers and the city’s park district hope the apartment complex’s senior residents will be integrated into the larger community. 

Construction is expected to be complete in fall 2013. 

New Jersey Low-Income Senior Housing Complex to Get $2.8 Million Expansion

Construction has begun on Cliffside Park senior housing’s 11,000-square-foot, $2.8 million expansion funded by the U.S. Department of Housing and Urban Development and capital reserves from the city’s housing authority, reports NorthJersey.com

Two buildings currently make up the complex that provides project-based housing and services for seniors of Cliffside Park. The expansion is expected to yield a 4,000-square-foot senior activity center, a new community room, and upgrades to the buildings and park lot. 

Executive Director of Cliffside Park Joseph Capano believes the expansion and senior activity center will improve residents’ quality of life by offering a computer lab, arts & crafts studio, a gym and new administrative offices. 

The project comes at no expense to taxpayers and is expected to be completed by spring 2013. 

Construction: Planned

Calif. Auburn Community Adding Affordable Rental Senior Residences

The Sisters of Mercy Midwest Community in Auburn, Calif. is adding affordable independent living to its campus. Construction on 60 senior rental apartments will begin in the summer/fall of 2012 and is projected to be completed by next fall, Mercy Housing announced. 

The campus currently includes a retreat center, conference facilities, assisted living, and other amenities serving as the Sisters of Mercy regional headquarters. The new, three-story, LEED-certified building is designed to integrate into the campus setting to add independent living capabilities and afford residents the opportunity to age in place. 

Financial partners for the Mercy Auburn Senior Community include the U.S. Department of Housing and Community Development Section 202 Supportive Housing for the Elderly; CA Department of Housing and Community Development- HOME Program, Wells Fargo Bank, N.A., CA Tax Credit Allocation Committee, CA Debt Limit Allocation Committee, the Federal Home Loan Bank of San Francisco, The Elliott Family Foundation and Merritt Community Capital Corporation. The development is also receiving “substantial support” ffrom the City of Auburn and the Sisters of Mercy. 

PinPoint Commercial to Break Ground on 5 Senior Care Communities

PinPoint Commercial, LP and Thrive Senior Living, LLC announced on Tuesday their plans to develop five new assisted living and memory care communities in Texas, Louisiana, and Florida.

  • The Legacy at Falcon Point, in Katy, Tex., will be a two-story, 104-bed assisted living and memory care community located close to some nearby hospitals. Construction is expected to being as early as December of this year.
  • The Legacy at Forest Ridge, in Schertz, Tex., will be a one-story community with as many as 120 assisted living and  memory care beds. Construction is expected to begin in early 2013.
  • The Legacy at Crystal Falls will serve the “affluent, rapidly growing” north Austin, Tex. suburbs of Leander and Cedar Park. The community will be a one-story building with as many as 90 assisted living and memory care beds. Construction is expected to begin in early 2013.
  • The Legacy at Red River in North Bossier, Louisiana will be a two-story, 104-bed assisted living and memory care community. Construction is expected to begin in early January 2013.
  • The Legacy at Highwoods Preserve, in Tampa, Fla.-suburb New Tampa, will be a 104-bed assisted living and memory care community located adjacent to the brand new Wesley Chapel Medical Center. Construction is expected to begin as early as February 2013. 

“These five projects are the result of a two year process,” said Charles Turner, Principal with PinPoint Commercial. “We studied over 300 submarkets in every state in the southeast US. After months of exhaustive travel and extensive research, we believe that these five communities represent the most underserved markets that we have found to date.”

All of the projects are designed around the Main Street and Neighborhood concept, where each wing of a community serves as a separate neighborhood for the residents living there. Each neighborhood will have its own uniquely themed common areas but will be designed around a central “Main Street” with amenities such as a restaurant, movie theater, store, spa, gym, and sports bar.

The communities will have a heavy emphasis on technology, with features that will include Simple-C Companion, a groundbreaking touch-screen computer system for residents with memory care impairments; wireless and flexible caregiver alert systems; resident monitoring systems; wireless RFID door entry systems operated by a wearable device, eliminating the need for a traditional key; and camera monitoring systems covering all areas outside of resident apartments. 

PinPoint and Thrive have collaborated on four other senior living communities in Florida, Georgia, and Texas.

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