In the Pipeline: Senior Housing Construction Projects (10/10/12)

NewCourtland Plans $5.6 Million Senior Housing Conversion Project

Nonprofit community services provider NewCourtland recently broke ground on a $5.6 million conversion project that will turn a vacant suit factory into a senior housing and care campus. The LIFE (Living Independently for Elders) center, in Philadelphia, Pa., will be located in a five-story former suit plant on a five-acre campus that will also include affordable housing. 

NewCourtland LIFE is known nationally as PACE (Program for All-incluse Care for the Elderly) and provides a range of healthcare and other services to local seniors, with a mission of supporting seniors who want to age in place. The model can help seniors avoid or delay moves into more costly care settings, like nursing homes.

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“By expanding the availability of housing linked with supportive services like LIFE, NewCourtland, enables older adults to age safely and affordably with dignity and respect—as independently as possible, for as long as possible—in their own home or community,” said Gail Kass, president & CEO of NewCourtland, in a statement.

Provision Living Plans $13 Million Mo. Senior Living Community 

Provision Living and Quarry Retirement Investors LLC are planning a $13 million assisted living community in St. Louis, Mo., reports the St. Louis Business Journal.

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Quarry Retirement Investor has filed an certificate of need (CON) application with the Missouri health facility regulators to build the 50-unit, 60-bed senior living community. Community amenities will include an entertainment/activity room, a beauty salon, wellness and exercise/rehab facilities, a cafe, resident storage, and chauffeured transportation.

Quarry Retirement Investor plans to use $10 million in loans and $3 million in cash to finance the 50,000-square-foot project. PVL Quarry, LLC, will lease the property as a licensed operator and will hire Provision Living, LLC to manage the community. 

CNL Healthcare Trust Breaks Ground on $21.6 Million Fla. Senior Community

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Construction has commenced on HarborChase of Villages Crossing, a $21.6 million assisted living community project in Lady Lakes, Fla. owned by Orlando-based CNL Healthcare Trust.

HarborChase will be a two-story, approximately 91,000-square-foot building with 96 units. Harbor Retirement Associates, headquartered in Vero Beach, Fla., is developing the project and will provide management services under a long-term contract upon completion. 

Amenities at the assisted living community include a wellness center; a variety of dining venues including private dining, outdoor dining, and the convenience of a bistro/coffee bar and grab-n-go menu items; and innovative technology to ensure access to the latest in mobility, independence and safety devices.

The community is expected to open in late 2013 and is located near to The Villages Regional Hospital. 

Benchmark to Build $20 Million Senior Living Project in Central PA

Benchmark Construction Co., based in Lancaster County, Pa., has been awarded a $20 million contract by Presbyterian Senior Living to build a new independent living community in Chester County, Pa.

Vista Ridge will be part of Ware Presbyterian Village in Oxford, Pa. The first phase of construction for the project features a 31-unit independent living apartment building, a community and dining pavilion, and associated site work and infrastructure to accommodate future phases of apartments and cottages.

The independent living apartments will have a variety of floor plans for one- and two-bedroom units. All apartments will have internal access to secured lower-level parking, covered balconies, and a Geothermal HVAC system. 

Construction on the first phase of the project is expected to be completed by Fall 2013. 

The LaSalle Group Breaks Ground on More Memory Care Communities

The LaSalle Group recently broke ground on two memory care communities in Illinois and Texas.

On Oct. 5, the memory care development group broke ground on the $10.2 million, 26,000-square-foot Autumn Leaves of Bolingbrook, which will serve those who have Alzheimer’s dementia, and memory impairment. 

The community will have capacity for nearly 50 residents and will offer free services to the public including seminars, educational speeches, memory screening, support groups, and free care on Wednesdays to give caregivers and family members respite. It will be The LaSalle Group’s sixth Chicagoland community, with another one planned in the future.

“We are seeing the markets loosen up, and we will continue to grow in the Chicago area,” said Brenda Brantley, The LaSalle Group’s  chief financial officer. “There are many families that need our care, and lenders understand that.”

The LaSalle Group partnered with RT Partners and BMO Harris Bank for the project, which is expected to open during the third quarter of 2013. 

On Oct. 10, The LaSalle Group broke ground on Autumn Leaves of West Houston, a $11.2 million, 26,000-square-foot community in West Houston, Tex. Like Autumn Leaves of Bolingbrook, this community will serve nearly 50 memory care residents and will offer the same free services to the public. 

The project is the result of a partnership between The LaSalle Group, Silverado Interests, and Community Trust bank, and is expected to open in the second quarter of 2013. 

Constant Care Family Management is the property management company for all Autumn Leaves communities and will manage both communities upon completion. 

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