Chicago Mayor Proposes $19 Million Low-Income Senior Housing Development
Chicago Mayor Rahm Emanuel introduced financial measures to City Council that would support the development of a 72-unit affordable senior apartment building in the city’s west side neighborhood of Humboldt Park.
The $19.4 million complex would be located at the southeast corner of North Avenue and Pulaski Road and will include apartments for seniors aged 55 and older who earn up to 80% of the area median income.
The city of Chicago would provide $4 million Tax Increment Funding, a $3.5 million loan, and $1 million in Low Income Housing Tax Credits that are expected to generate $10.1 million in equity for the project.
Additional city support would include $363,000 in donations tax credit equity made possible by the sale of the half-acre site currently owned by the city.
North and Pulaski Elderly Limited Partnership Corp. will develop the five-story building, which will include a mix of one- and two-bedroom apartments as well as an exercise room, laundry facility and management offices.
The development partnership includes U.S. Bancorp Community Development Corp. and Hispanic Housing Development Corp.
A $544,000 allocation by the Chicago Low Income Housing Trust Fund would help to reduce rents on six of the units to support tenants earning less than 30% of the area median income.
Senior Care Properties Plans Mich. Assisted Living Community
Construction could begin later this year on a new 85-unit senior living community in Holland, Mich., reports Michigan Live.
The city’s Planning Commission approved a rezoning request last week from Senior Care Properties LLC for an 11-acre property to play home to the proposed three-story “congregate care community,” as well as a related 44-unit assisted living project.
The new community will reportedly be patterned after the Village of Appledorn community on Hastings Avenue, according to MLive, with the living units in the new development slightly larger than those at Appledorn.
A total of 64 units would be two-bedroom apartments, while the remaining units would be one-bedroom dwellings, according to documents supplied to the city.
The project’s development will occur in several phases, with the construction of eight condo units in addition to the congregate care facility, before construction on the assisted living facility.
The timeline for construction depends on Senior Care Properties receiving approval for financing through the Michigan State Housing Development Authority. If approved, construction could begin this fall, according to city planner Mark Vanderploeg.
The Shelter Group Gets Go-Ahead for N.J. Senior Living Community
The Shelter Group received the green light to build a 139-unit senior living community on Forest Avenue in Paramus, New Jersey, reports the local patch.
Last May, city board members granted permission to The Shelter Group to go ahead with a senior living facility. They returned February of this year to begin site plan approval.
Discussions last week focused on a variety of requests for the project, such as fence height surrounding the community; adding a traffic lane on Forest Avenue to allow bus accessibility; as well as sign placement.
Although The Shelter Group was granted permission to build their community last year, several residents who had been opposed to the project from the start brought up challenges such as flooding concerns.
Project leaders told residents that drainage plans have been discussed and considered and will be finalized with the state’s Department of Environmental Protection before the facility is built.
Construction: In the Process
Local Developers Building Senior Living Complex in Texas
The owners of Prairie Valley Senior Living, a community in a Texas town of the same name, will open next month, reports The Lakelander.
Owners Perry and Suzanne Auten will reportedly open the first phase, which includes 19 one-bedroom apartments, around the first of May.
The units offer kitchen, living and bath areas, a utility room, front and back porches. Homes are also outfitted with large washers and dryers, personal showers, concrete flooring, stained cabinets and concrete driveways. Additionally, heat pumps are in place in each of the units to provide central air conditioning and heating.
A 1,200-square-foot community center will serve as a meeting and recreation area at the center of the complex.
Prairie Valley Senior Living will be located at the corner of Farm Road 2960 and Hill County Road 2115 in Prairie Valley.
True North Group Breaks Ground on Ind. Memory Care Community
True North Group has broken ground to build a memory care community in Michiana, Ind.
The private equity company has entered into a construction agreement with Holladay Properties, Inc. of South Bend to build the facility, which will be located at 1409 East Day Road.
North Woods Village at Edison Lakes will provide focused care and treatment to meet an increasing demand for those living with Alzheimer’s disease, dementia and other related memory issues.
Operations for North Woods will be managed by regional memory care specialist Randall Residence, based out of Lawton, Mich.
The project looks to generate immediate construction jobs, with full staffing of medical and administrative positions providing over 40 new jobs in the community by December of 2013.
Scenic Development Breaks Ground on Iowa CCRC
Scenic Development broke ground earlier this month on a new continuing care retirement community in Altoona, Iowa, reports Des Moines Register.
Prairie Vista Village, located at 2785 First Ave. S., will offer residential independent living, assisted living, short-term rehabilitation and health care to seniors.
Residents can choose between one- and two-bedroom apartments, most of which include a kitchen, washer, dryer and walk-in closets.
The community will also include restaurant-style dining, a bistro and coffee bar, fitness center, outdoor patios and walking paths, hobby room, chapel, theater, library and banking center.
Activity programs, housekeeping, transportation and concierge services will also be available.
Project leaders expect Prairie Vista Village to open in late spring or early summer 2014.
Stroud Properties Begins Work on $12 Million Texas Senior Care Project
Dallas-based Stroud Properties Inc. has began construction on its newest project, Sonoma House Assisted Living & Alzheimer Care in Carrollton, Texas.
The development is located on a 7.5-acre site near the intersection of East Hebron Parkway and Josey Lane, with total project costs estimated to be over $12 million.
Sonoma House is expected to open during late fall of 2013.
Upon completion, the community will consist of a neighborhood of seven, 8,500-square-foot residential homes, each serving 16 residents.
Each home will have 16 bedrooms with their own private bathroom, a salon, and a landscaped backyard outfitted with walking paths and fountains.
The entire community will serve a total of 64 assisted living and 48 memory care residents, and will be located in close proximity to Baylor Medical Center, The Shops at Willow Bend, and easy access to Dallas North Tollway.
Ecumen Opens Omaha Senior Living Community
Ecumen, a Minnesota-based senior housing provider, recently opened a senior living community in Omaha, Nebraska.
Developed in part with owner Esprit Memory Care, the project is in the first of two third-party build-and-manage projects Ecumen will open in a twelve-month period in new market areas, the company said.
Esprit Whispering Ridge, which opened in December, is located in a growing area on the western edge of Omaha new West Maple Road.
The community includes a three-story assisted living building and a single-story memory care building with connected outdoor gardens and views overlooking Whispering Ridge Park
The two buildings total over 100,000-square-feet and offer 90 units of housing; 42 assisted living and 48 memory care apartments.