Developer to Build $17MM, 124-Unit Affordable Senior Housing in Texas
Miller-Valentine Group, a Dayton, Ohio-based real estate developer, plans to build a $17.7 million, 124-unit affordable senior housing community in Fort Worth, Texas, reports Fort Worth Business Press.
The Reserve at McAlister community will sit on 7.5 acres and will include 22 rental assistance units, which are being facilitated by a package of federal low income housing tax credits and $2.3 million in Fort Worth Housing Authority funds over 15 years.
Unit mix will include 112 income-restricted apartments and 12 market-rate units.
In terms of the building’s physical structure, the development will feature one residential building with one- and two-bedroom apartments, a clubhouse, leasing office, among other amenities.
Construction: In process
New Senior Living Player Breaks Ground on First Project in Minn.
Oppidan Investment Company, a national property development firm, has broken ground on its first senior living community in Woodbury, Minn.
Red Rock Senior Living will be a new, 76-unit senior living community that will be managed by Minneapolis-based Ebenezer Management Services.
The $14 million, two-story development will consist of 39 independent and assisted living apartments, 32 memory care apartments and five care suites. The community will also sit in close proximity to CornerStone Medical Specialty Centre and the Woodwinds Hospital campus.
On-site amenities include remote monitoring technology, outdoor patios, porches, gardens and walking paths, along with chef-prepared meals, a chapel, underground parking, club room, community room, movie theater, salon and spa.
Red Rock will be constructed by La Crosse, Wisc.-based TCI and designed by Frisbie Architects of River Falls, Wisc.
The community is expected to open in June 2015.
Aspire Development Partners and The Arbor Company Underway on New Assisted Living Project
Georgia-based companies Aspire Development Partners and The Arbor Company are underway on construction for a new assisted living and memory care community in South Forsyth county, according to a release from the Cumming-Forsyth County Chamber of Commerce.
Two medical centers, Emory of Johns Creek and Northside Hospital-Forsyth, are within a few miles of the community, dubbed The Arbor Terrace of Johns Creek.
Unit make-up of the development consists of 100 residential suites with 30 units dedicated as a memory care neighborhood.
Amenities include an activity center, beauty salon, spa, bistro and fitness center. Additionally, the community campus includes an enclosed courtyard with walking paths, fountains and patios.
Developers also plan to outfit the building with technologies such as wireless emergency call systems with monitoring devices in each room to ensure resident safety.
Construction financing for the project has been provided by State Bank and LFW Investments, the investment arm of local real estate investor Leo F. Wells.
The community is being constructed by Choate Construction and is slated to open in late summer 2015.
Lifespace Communities to Embark on $15 Million Expansion in Ill.
Des Moines, Iowa-based not-for-profit Lifespace Communities will break ground in the coming weeks on a $15 million expansion of its Beacon Hill community in Lombard, Ill.
Planned expansions to the existing community include an auditorium, multiple dining venues, kitchen, dining preparation space and loading dock.
The project is expected to be completed in summer 2016.
Beacon Hill has partnered with Tremain Architects & Planners, Ltd., based in Minneapolis, Minn. and Chicago-based Walsh Construction to execute the expansion project.
Independent Healthcare Properties and Morning Pointe Senior Living Building $25 Million Campus
Ooltewah, Tenn.-based Independent Healthcare Properties and Morning Pointe Senior Living are constructing a $25 million senior campus in Louisville, Ky., reports Times Free Press.
The companies announced this week they are beginning excavation for the 120-unit assisted living and memory care project.
The nine-acre campus will feature amenities that include fine dining areas, life enrichment programs, as well as professional health and wellness services.
The two-phase project will feature 53 senior living apartments and an additional 20 apartments to be featured in The Lantern, which will be a secured wing dedicated to memory care. Additionally, the new campus will also provide 44 apartments in a free-standing Alzheimer’s Center of Excellence.
Developers Transform Chicago-Area Ballroom into Senior Living Amenity Space
Horizon Realty Group, a family-owned and operated property management company in Chicago, is giving a $1.2 million facelift to a ballroom located within its greater $17 million converted hotel senior living community in Evanston, Ill.
In June, Horizon opened its doors to “The Merion,” a luxury senior living rental community that was formerly the North Shore Hotel in Evanston. While the first phase of the $17 million project has been completed, Horizon is in the process of a top-to-bottom renovation of the building’s ballroom.
Renamed “The Crystal Ballroom, the $1.2 million allocated to its transformation includes a kitchen upgrade to provide a 3,500-square-foot event space that aims to combine vintage charm with modern cooking facilities and audiovisual systems.
The remodeling project will preserve the building’s classic architectural elements, including the original crown molding, intricate plaster designs in the ceiling, restore crystal chandeliers as well as archways framing the doors and mirrors.
Capacity of the ballroom provides space for 220 people for a sit-down event and 350 for a cocktail reception, and is available for weddings, parties, among other celebrations.
Also included in the remodeling are two 10′ high-definiion LCD projectors, which will enable the event space to host movie nights, “big game” screenings and corporate conferences.
The makeover also included the addition of an adjacent lounge with a baby grand piano, seating for 40 and two flat-screen TVs.
Northstar Senior Living to Open Calif. Assisted Living Community
Redding, Calif.-based Northstar Senior Living is readying a grand opening next week for its assisted living and memory care community located in Rancho Cordova.
The three-story Northstar Rancho Cordova building is comprised of 80,000-square-feet. It consists of 113 apartments in a variety of floor plans, including studio, semi-private, or one- and two-bedroom options.
A full-service beauty-barber shop, card and game room, meeting/activity room and library are just a few of the community’s onsite amenities.
Northstar’s signature Journeys memory care program is also featured as one of the community’s service offerings.
Written by Jason Oliva
Companies featured in this article:
Choate Construction, Ebenezer Management Services, Frisbie Architects, Horizon Realty Group, Independent Healthcare Properties, Lifespace Communities, Miller-Valentine Group, Morning Pointe Senior Living, Northstar Senior Living, Oppidan Investment Company, TCI, The Arbor Company, Tremain Architects, Walsh Construction