In the Pipeline: Senior Housing Construction Projects (12/19/13)

Construction: Planned

LCB Senior Living Seeks Approval for New Hampshire Assisted Living

Norwood, Massachusetts-based LCB Senior Living is proposing to develop an 84-unit assisted living and memory care community for Salem, New Hampshire, reports New Hampshire Union Leader.

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Project plans detail a three-story, 73,000-square-foot building across from the Ingram Senior Center on Sally Sweets Way. 

The units would be split between assisted living and Alzheimer’s care units, with the building appearance residential in nature, according to the article. 

Representatives from LCB plan to present initial project plans before the town’s Planning Board before coming forward with a formal plan to be approved.

New Perspectives Senior Living Community Plans Redevelopment

An assisted living community operated by Minnesota-based New Perspectives Senior Living could be redeveloped into a larger facility, reports Milwaukee-Wisconsin Journal Sentinel.

A proposal to redevelop the Lighthouse of Brown Deer community was approved this week during a Brown Deer village meeting of the Community Development Authority and Village Board.

If the project carries out, it will include improved services and housing choices, said New Perspectives President Ryan Novacyzk, in the article.

Currently, Lighthouse of Brown Deer has 30-40 units, with assisted living and memory care services in two, one-story buildings.

RNT Development LLC, an affiliate of New Perspectives, announced in October plans for a senior living community in Glendale that would feature 140 apartments. 

A formal proposal for this community, Lighthouse of Glendale, has not yet been filed with city officials.

Titan Development and LCS Partner for $10 Million Upscale Project

Titan Senior Living, a joint venture between Albuquerque-based Titan Development and Des Moines, Iowa-based LCS, will create a more than $10 million upscale senior living project for Santa Monica, New Mexico, reports Albuquerque Journal.

Construction is expected to being mid-2014 on Elan-Santa Monica, a 110-unit senior living community located near the 280-unit Broadstone Santa Monica apartments in Northeast Albuquerque. 

Elan-Santa Monica is planned as an assisted living community with a memory care component on four acres of land, comprising 95,000-square-feet of space in one building. 

Amenities will include a restaurant operated by an executive chef, cafe, bar, salon, wellness center and concierge services. 

LCS will manage the community upon completion. Albuquerque’s Reid & Associates will serve as the general contractor for the project.

Investor Group Commits $2.6M to Expansion of Chicago Senior Housing

The AFL-CIO Housing Investment Trust (HIT) announced this week that it is providing $2.6 million of financing for the $22 million expansion of Montclare Senior Residences of Avalon Park on Chicago’s South Side. 

The HIT is a fixed-income investment company registered with the Securities and Exchange Commission, managing $4.6 billion in assets for more than 360 investors, which include union and public employee pension plans.

The group primarily invests in government and agency insured and guaranteed multifamily mortgage-backed securities. 

Of the total 122 units for the Montclare community, 109 will be reserved for residents earning between 15% and 60% of the area median income. 

Additionally, 38 of these units will remain affordable through a long-term HUD Housing Assistance Payments contract that preserves the affordability component of the units for 20 years.

Project amenities for Montclare Senior Residences include a community room, library, health screening and exercise rooms, laundry, outdoor recreational areas, social services and meals coordinated through the City of Chicago Department of Aging. 

Since its inception, the HIT has invested more than $6.8 billion to finance nearly 110,000 units of housing nationwide.

Construction: In process

Historic Building’s Final Phase Breaks Ground on $30M Mixed-Use Senior Housing

A decades-old rehabilitation project has entered its final phase with the groundbreaking of a mixed-use senior housing component in Traverse City, Michigan, reports Northwest Michigan’s Second Wave.

The $30.7 million Cordia Senior Residential Club is the latest construction project included within The Village at Grand Traverse Commons, which has been undergoing a rebirth since 2000 when The Minervini Group began its preservation efforts. 

The community is listed as a “luxury residential community for independent seniors and those who require some assistance,” according to the article.

The community is also considered a mixed-use development, as it is located adjacent to the multi-generational amenities of The Village at Grand Commons.

Cordia Senior Living, which will operate the community, says the building will feature two dining venues, a fitness center, beauty salon, health spa, library, computer center, as well as a variety of outdoor spaces and courtyards for its residents to enjoy.

A 60-person theater for films, lectures and concerts will also be available for resident use and the larger community.

Pinkard Construction Breaks Ground on New Green House Project in Colo. 

Lakewood, Colorado-based Pinkard Construction Company broke ground last week on a new senior living project for the City of Loveland, CO. 

The Green House Elder Homes project is the third and final phase of the Housing Authority for the City of Loveland’s Mirasol Senior Living Community.

Modeled on the “Green House” concept, the project—which will contain six of these homes—places small groups of seniors into home-like settings with a skilled care team rather than the traditional institutional setting, with the intent of making the facility feel like living in a real home. 

Pinkard Construction Company has provided construction management or general contractor services for over $175 million senior living projects in the past 10 years.

Construction: Completed

Delray Beach Community Completes $6.5 Million Dining Renovation

Abbey Delray South, a senior living community in Delray Beach, Florida, recently completed a $6.5 million renovation that focuses on the building’s dining area.

The renovations, designed by architectural firm c.c. hodgson, include the creation of three dining venues, as well as updates to features and amenities throughout the community. 

Project detailes included a new bistro with attached bar and lounge, a formal dining room with a two-story ceiling and a new garden dining venue. 

A new 5,000-square-foot gourmet kitchen is also included in the new design features, along with a new Mediterranean-style entryway with a fountain and exterior facelifts for the building. 

Abbey Delray South is a not-for-profit community providing seniors with a variety of residential options, including maintenance-free independent living apartment homes, garden homes and on-site skilled nursing care.

The operator of the community is Lifespace Communities, Inc., which is a nonprofit that operates 12 continuing care retirement communities in seven states.

Written by Jason Oliva

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