In the Pipeline: Senior Housing Construction Projects (5/8/13)

Construction: Planned

Nampa, Idaho OKs Proposal for Affordable Senior Housing 

The City Council of Nampa, Idaho approved an ordinance this week to create 50 units of affordable housing for low-income seniors, Idaho Press reports.

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The project will be developed by Community Development, Inc. (CDI) and will require about $350,000 in renovations on the site of the old Mercy Hospital Building, which CDI will pay upfront.

Over the course of 10 years, the city of Nampa will reimburse CDI with tax revenue generated in the district, with CDI itself being the only taxable entity. 

While the proposal was initially met with opposition from several council members, Nampa Mayor Tom Dale served as the tie-breaking vote for approval. 

Oregon Real Estate Group Plans Two Big Budget Projects

BPM Real Estate Group is planning two “big budget” senior housing projects it intends to build at Goodpasture Island in Eugene, Oregon, reports Portland Business Journal.

Last month, BPM closed a $47.5 million construction loan with Wells Fargo Bank for its Riverwalk project, a $70 million, 466-unit apartment complex on the Willamette River.  

For its other project, the Portland-based developer secured a $24 million construction loan from First Republic Bank to construct Waterford Grand, a $32.5 million, 140-unit senior housing project.

Myhre Group Architects of Portland designed the Waterford project, which will offer a variety of residential units as well as a memory care center.

Hoviss Development Group LLC will serve as the general contractor for site improvements, while Chambers Construction of Eugene is general contractor for vertical construction. Bowen Property Management will serve as the owner’s representative.

Upon opening, Waterford Grand will be managed by BPM Senior Living Co.

Clover Construction Proposes $11 Million OH Senior Living Community

Plans to build an independent senior living community on six-acres of undeveloped land in Tallmadge, Ohio could become a reality, if City Council approves a conditional zoning certificate, Tallmadge Express reports.

Clover Construction, a New York-based developer from Buffalo, is requesting the zoning certificate that would allow it to begin construction on a residential apartment complex.

The undeveloped six-acres is currently zoned for commercial use and is owned by the Rocco Family Living Partnership, which owns 30 acres of land in the immediate area.

The section of land Clover wants to buy is part of a 12-acre parcel to the north of Rocky’s Skating Center at 272 West Ave.

Though Clover did not specifically disclose how much the project would cost, a representative from Rocco said he was told it would be an $11 million project, including the taxes it would generate for the community and school district. 

At least 80% of the 119 market-rate units would be about 750 square feet, with two bedrooms and one bathroom. Additionally, the units would also feature small living, kitchen and dining areas. 

Rental rates, while still to be determined, could be about $900 per month, according to a representative from Clover. 

The other 20% of the apartment units would be about 600 square feet, with a price of about $800 per month. 

If the city council approves the zoning request, construction would begin this fall and last about eight months, with residents able to apply for residency after council approval. 

Construction: In the Process

South Carolina CCRC Plans $8 Million Expansion 

Clemson Downs, a continuing care retirement community (CCRC) in South Carolina is in the process of planning an $8 million expansion, the Easley Patch reports

Last week, the community’s board of directors announced the CCRC intends to add a memory care unit and a private skilled nursing facility—a process in the works for the last three years, which has just recently started design and construction activities.

The new center will serve 32 residents in a “home-like” setting, and will include 24-hour care and daily services designed to cater to individual needs. 

While the community is the Clemson-area’s first and only CCRC, the board of Clemson Downs identified there is a need for such dementia care service in the area as the need for highly specialized care continues to rise. 

The expansion is currently in its early stages of planning, however, Clemson Downs expects to file the necessary applications and notices with the South Carolina Department of Health and Environmental Control within the next few weeks. 

Financing and construction are expected to begin later this year with an opening slated for late 2014. 

Construction: Completed

Signature HealthCARE Completes $17 Million Tenn. Nursing Home

Signature of Nashville Rehabilitation and Wellness Center, a 119-bed nursing home, opened its doors last week, Nashville Business Journal reports

Encompassing 70,000 square feet, the $17 million project is owned and operated by Signature HealthCARE and is located at 832 Wedgewood Ave. 

The two-story facility includes 28,000 square feet of renovated space as well as 42,000 square feet of new space.

Signature of Nashville offers skilled nursing, accompanied with physical, occupational and speech therapy services. The center also includes outpatient therapy, home and community-based services, as well as specialized nursing case management for patients transitioning from Signature’s ExceleratedCARE Unit to home. 

The center also include 50 private rooms with in-unit showers, TV and phone services. Other features include a therapy gym, Internet cafe, theater rooms and a chapel.

Belaire Group Completes $11 Million HUD-Funded Senior Development

The Belaire Group has completed construction oversight of a federally-funded assisted living and memory care community in Odessa, Texas.

Orchard Park of Odessa is a 65,000 square feet project featuring 57 assisted living and 40 memory care units at 8050 Dr. Emmet Headlee St.

The $11 million project was primarily funded by the U.S. Department of Housing and Urban Development (HUD), along with private equity.

The Belaire Group was brought in by the owner and developer, McFarlin Group, in December 2010 and worked through project planning and then construction, to final completion.

The community features three interior landscaped courtyards, private dining amenities, special events venue, fitness and wellness areas, therapy rooms and a spa/salon. Additional services include transportation, wellness programs, weekly linen and housekeeping services and assistance with activities of daily living. 

Orchard Park has already received a Certificate of Occupancy and is currently awaiting final inspection from the Texas Department of Aging and Disability Service.

Going forward it will be managed by Meridian Senior Living, with first available occupancy in mid April.

Spectrum Retirement Opens Memory Care Community

Spectrum Retirement Communities now offers one of its first memory care programs on the campus of its Park Meadows Senior Living community. 

After recognizing a growing demand for memory care programs and conducting several pilot programs at two of its other communities, Spectrum launched The Residence Club program in August 2012. 

In March 2013, the program was added to Park Meadows, the Overland Park, Colorado community that offers a full continuum of care, including independent, assisted living and memory care.

Through The Residence Club program, residents can continue to live in their assisted living apartments, but are assigned a Life Enrichment Specialist.

These aides are specifically trained to manage mild cognitive impairment, assisting residents in overcoming hurdles that accompany short-term memory loss, while also enabling them to participate in the full range of activities offered through other Spectrum programs.

Spectrum hopes to expand The Residence Club to its other communities, given its success at the Park Meadows Senior Living community.

Conn. Senior Apartments Opens After 15 Years

After nearly 15 years in the making, an affordable housing complex for seniors has opened its doors in Connecticut, The Hour reports.

Seniors ages 62 and older began moving into the Wilton Commons building last week—signaling a close to the $10 million finance campaign to complete the 51-unit building’s first phase of construction.

Owned by the Mutual Housing Association of Southwestern Connecticut and the Wilton Commons committee, funding for the housing complex came in the form of $2 million in donations as well as $7.6 million in federal tax credits and other government aid.

Many of the complex’s handicap-accessible apartments are about 650 square feet and include a bathroom, bedroom, living room and kitchen.

Wilton Commons features laundry, meditation and prayer, activity and common rooms, as well as 24-hour on-site staff, an outdoor gazebo and sitting area. 

Monthly rents will vary depending on single or double occupancy, with rates based on residents’ annual incomes.

Last month, Governor Dannel P. Malloy announced that the state would issue a $5.69 million grant to Wilton Commons to create 23 additional units. Construction for these units will take place during the project’s second phase.

Written by Jason Oliva

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