Foreign Investment Program Propels Assisted Living Project
With the help of a program that recruits foreign investors, Ridgeline Management Group is looking to break ground on a senior living community in Oregon as early as mid-summer, reports the Albany Democrat Herald.
The 92-bed assisted living community will be a three-story 72,000-square-foot building on Salem Avenue near Waverly Lake. It will feature 71 assisted living and 21 memory care units.
The project was put on hold during the recession, and Ridgeline President Dennis Garboden said it’s been rekindled as EB-5 Visa Investments have garnered the support to help move the development forward.
EB-5 recruits foreign investors who are interested in permanent relocation to the U.S., notes the Herald, with investors looking to put up a minimum of $500,000 toward a project helped in their relocation efforts.
Multiple investors are common with EB-5 projects in the $4 to $5 million range, notes the Herald. For the Albany project, the investors buying into the facility are from China, according to the Herald.
Ridgeline estimates that construction will be completed within a year after groundbreaking.
Developer Gets Permit to Convert Former Hotel into Senior Living
Bill Clous, owner of Eastwood Custom Homes has been granted a special use permit from Acme Township in Michigan to renovate an inn into a senior living community, reports The Ticker.
To manage Water’s Edge Assisted Living, Clous is partnering with the owners of Country Pleasures Assisted Living, located five miles south of Traverse City.
Clous obtained the permit after the township board amended “an ordinance to better accommodate senior living,” according to the Ticker.
Amenities for Water’s Edge, in addition to a “complete facelift” for the exterior, include a salon, coordinator-led activities, a possible chapel, and eventually a bus providing transportation to outings, according to Clous.
The community will provide a range of care, from monitoring medications to end-of-life care. Due to fire restrictions, however, the home can only accept ambulatory residents.
The Eastwood team is currently working through a “building code plan review” and making final adjustments to the construction drawings as required by the Grand Traverse County building code office.
Meridian Reality Acquires Site for $30 Million Senior Care Project
An affiliate of Meridian Realty Advisors recently closed on a 16-acre development site in Bee Cave, Texas, with plans to build a 90-bed memory care assisted living community and a 140-bed skilled nursing and rehabilitation facility at the site. The total project cost is estimated it just under $30 million.
Silverado Senior Living-Bee Cave, which will be operated by Silverado, and the Bee Cave Nursing and Rehabilitation Center will each break ground in early May, the company announced, with communities scheduled for resident move-in during summer 2014.
The community will be comprised of six houses with twenty residents per house surrounding a central courtyard. The shared community building will provide activity areas as well as a clinic, physical therapy and occupations therapy suite and administration. Exterior areas provide a variety of activity areas as well as a specialized therapy courtyard.
“We continue to believe that these memory care assisted living facilities represent a significant advance in memory care in the markets we have selected in which to develop,” said Meridian partner David Ronck. “We are pleased to further expand our relationship with Silverado by teaming on this project.”
Both facilities were designed by Pi Architects of Austin, Texas, with SCI Construction of Tyler, Texas as the General Contractor.
Polygamist Group Seeks Zoning Change to Build Retirement Community
The Apostolic United Brethren (AUB) has applied for a zoning change in Bluffdale, Utah for the building of up to eight homes for retirees in their community, reports The Salt Lake Tribune.
The Bluffdale Planning Commission took public comment at a hearing on the application last week, which requests amending the city zoning map form agricultural to single-family residential on 26.4 acres owned by the AUB.
The requested zoning change calls for one single-family dwelling per acre, however, clustering residential lots of at least 10,000-square-feet is allowed by the city council to accomplish specified objectives, reports the Tribune.
These objectives include space for recreational use as well as protecting valuable agricultural land.
A representative from AUB intends at least one of the eight homes to be designated for a nurse, and if the request is granted, the group would be required to leave an open acre on its property for each home in the cluster.
Pa. Senior Living Community Plans Independent Living Expansion
Arbour Square, a senior living community in Harleysville, Pennsylvania, will undergo renovations and an expansion, adding 125 new independent living apartments to be completed by 2014, reports Montgomery News.
The new apartments will be known as The Hillside at Arbour Square, as they are literally being constructed into the side of a hill, according to Heritage Senior Living, who is overseeing the project.
Hillside will be physically connected to the existing Arbour Square units, and there will be reconstructions of the dining and common rooms, as well as an added space for activity rooms and a library.
Arbour Square already has 150 units on its 22-acre campus, which offers services like personal care, memory care and home care. It does not have an entrance fee, or buy-in, model.
Local Harleysville company Berks Ridge Company Enterprises will handle construction for the project. Westrum Development, based in Fort Wasington, will handle development.
Construction: In the Process
Monarch Landing Breaks Ground on Perkins Eastman-Designed Health Center
After introducing its independent living apartments for individuals ages 62 and older over six years ago, Monarch Landing finally broke ground on its health center on April 9, reports the Chicago Tribune.
A retirement community in Naperville, Ill., Monarch Landing’s health center will include assisted living, memory care, rehabilitation and skilled nursing services.
The $30 million addition to Monarch Landing was designed by Perkins Eastman Architects and will consist of 96 skilled nursing apartments in eight households of 16 units each and 28 assisted living/memory support apartments in two households of 14.
Both will be attached to Monarch’s independent living apartments through common areas, and will include a department for physical, occupational and speech therapy, as well as a beauty shop and a bistro.
Christian Care Communities Breaks Ground on $13.5 Million Senior Living Community
A groundbreaking ceremony was held Tuesday for The Homeplace, a $13.5 million Kentucky senior living community, reports the Lexington Herald-Leader.
Billed as Kentucky’s first “Green House” community, a place where senior residents live in groups of 10 to 12 people per cottage, The Homeplace provides a setting that strays away from the conventional style of nursing homes.
The project was financed in part through a program to improve healthcare access in towns of less than 20,000 residents, reports the Herald-Leader. The Homeplace received a $11.5 million low-interest loan from the U.S. Department of Agriculture. Additionally, a little more than $2 million was raised privately from nearly 600 gifts.
Construction is slated to begin in June, with The Homeplace finished during the last half of 2014, according to Keith Knapp, president and CEO of Christian Care Communities, the Louisville, Ky.-based company that will operate the community.
Ill. Assisted Living Community Completes $4.8 Million Expansion
The $4.8 million expansion project at Grand Prairie of Macomb, a BMA Management affordable assisted living community in McDonough County, Ill., opened for occupancy last week.
The expansion nearly doubled Grand Prairie in size, from 48 to 86 apartments, according to Andrea Keene, administrator of Grand Prairie.
The community is designed to serve older adults of all incomes who need help maintaining their independence, while also providing them with the opportunity to live in a residential apartment-home environment and receive personal assistance and help with medications.
Managed by BMA, the community is owned by a group of local investors. Three local banks provided the financing for the expansion project: First Bankers Trust, Mid-America National Bank, and First State Bank.
Renaissance Architects of Springfield, Ill., served as the architect for the expansion, and Laverdiere Construction Inc. was the general contractor.
“Commune-Like” LGBT-Friendly Senior Housing Opens in South Fla.
A retired catering business owner converted what was once a small assisted living community into Florida’s first gay retirement home, reports South Florida Gay News (SFGN).
Secret Garden is a 4,000-square-foot property equipped with seven bedrooms, designed as an independent living center where owner Tom Duffy says homosexual men can be themselves as they age.
The community will provide either shared or private rooms, meals and transportation for shopping outings and doctor appointments, says Duffy, who plans to have another person working full-time as his assistant, as well as other part-time workers to handle housekeeping, cooking and planning activities.
Secret Garden rents will range from $2,500 to $3,500 a month.
Although the community does not have an assisted living license, Duffy says he will help arrange home care for residents with short-term medical emergencies.
Secret Garden may not be the area’s only gay retirement home for long, writes SFGN, as representatives from the Gay and Lesbian Elder Housing nonprofit group—which has built and operates popular gay- and HIV-friendly lower-income, government subsidized apartments in other states—has toured the area.
Detroit’s FIrst Affordable Assisted Living Community Opens
Three Michigan nonprofit organizations have come together to open Detroit’s first affordable assisted living community.
Henry Ford Health System, Presbyterian Villages of Michigan (PVM) and United Methodist Retirement Community (UMRC) hosted a grand opening last week for the first phase of Rivertown Neighborhood.
By the end of 2013, the partners expect 80 residents to live in Detroit’s first affordable assisted living apartments.
The Community Foundation for Southeast Michigan made a leadership grant commitment to the project in 2010 through the Detroit Neighborhood Fund.
The project was further supported by the Department of Housing and Urban Development (HUD), Michigan State Housing Development Authority (MSHDA), Wayne County, and the City of Detroit HOME funds, brownfield tax credits, low-income housing tax credits, and the partners’ own equity.
Huntington National Bank provided the construction financing for Phase One.
More recently, the development has received grants from The Kresge Foundation and The Harry and Jeanette Weinberg Foundation, which is based in Maryland and helps older adults live meaningful and engaged lives in their community.
The partners have also begun to break ground on Phase Two of the Rivertown Neighborhood.
Presbyterian Villages of Michigan (PVM) and United Methodist Retirement Communities, Inc. (UMRC) are partners in the second phase, developed in collaboration with Henry Ford, with PVM operating new apartments and leading construction and planning.
Phase two’s nearly $7 million, 43,000-square-foot project, which will be built just east of the $27.5 million phase one development, will include 50 independent living affordable senior apartments, funded in part through a $6.9 million capital advance grant of the U.S. Department of Housing and Urban Development (HUD).
The partners are forming a non-profit community board. The second phase should open in the spring of 2014. Eligible residents will be 62 years old or older who meet HUD’s very low-income requirements.
UMRC is operating the day-to-day functions and PVM/Center for Senior Independence is operating its second location inside the building. PVM will operate the second phase.
The independent living apartments that are expected to complete in 2014.
Companies featured in this article:
BMA Management, Christian Care Communities, Eastwood Custom Homes, Henry Ford Health System, Heritage Senior Living, Meridian Realty Advisors, Perkins Eastman Architects, Presbyterian Villages of Michigan, Ridgeline Management Group, Silverado Senior Living, United Methodist Retirement Community