PDC Capital Group Invests in Pipeline of Three Northern Calif. Projects
Costa Mesa, Calif.-based PDC Capital Group, LLC, has three new SummerPlace Assisted Living & Memory Care facilities planned to break ground next year in Northern California.
SummerPlace Westgate, located in West Sacramento, is a $27.5 million that will add 174 units and 205 beds of assisted living and memory care capacity to the region. Of total development costs, an estimated $22.5 million is going toward construction of the facility, PDC Capital told SHN in an email. The project is scheduled to break ground this March and open in June 2016.
SummerPlace Citrus Heights will be a $22.8 million development that will add 109 assisted living and memory care units to the area. Of total development costs, an estimated $12 million is going toward construction. Scheduled to break ground in July, PDC Capital Group anticipates project completion for October 2016.
The final of the three planned projects, SummerPlace Kern Canyon in Stockton is a $28.1 million development that will add 130 units of assisted living and memory care to the region. An estimated $16.5 million of the total development costs is going toward building construction, which is scheduled to begin in June, with completion expected in September 2016.
Each project is expected to create at least 120 new jobs, respectively.
PDC has signed Portland, Oregon-based firm LRS Architects to lead the building of the three new assisted living centers.
15-Acre California Mixed-Use Project Includes Lennar, Atria
A planned mixed-use development for Foster City, Calif., is poised for several new projects with hundreds of housing units for seniors and active adults provided by Lennar Corp. (NYSE: LEN) and Atria Senior Living, reports Silicon Valley Business Journal.
A portion of the 15-acre parcel next to City Hall was purchased this week by publicly-traded homebuilder Lennar Corp., which plans to build up to 200 age-restricted for-sale housing units.
Along with those units, the project, dubbed Foster Square, will also include 150 assisted living units, 66 affordable units and 30,000-square-feet of retail.
Atria Senior Living is on board for the project’s senior living phase, while Mid-Peninsula Housing is taking the affordable component.
Civitas Plans Senior Living Community for Austin, Texas
Texas-based Civitas Senior Living, LLC, will begin construction next year on a new community in Southwest Austin that will feature independent, assisted living and memory care—the company’s seventh property in its expanding portfolio.
Ledgestone Senior Living, a Senior Lifestyle Apartment Community, will offer both independent and assisted living apartments along with a memory care cottage.
Unit mix includes 120 independent Senior Lifestyle Apartments, approximately 60 Assisted Living Studio Suites and one-bedroom units, and 10 private and semi-private memory care units.
The independent senior apartments will have balconies, island kitchens and multiple floor plans, including 1, 2 and 3 bedroom units with walk-in closets.
Amenities will include a pool, gym, spa, wellness center, walking trails, club house, among others.
Based in Fort Worth, Civitas Senior Living specializes in development, acquisitions, operational management and consulting for senior housing properties.
Ledgestone will be owned and managed by Civitas. Dripping Springs-based Trepex Construction, Inc., will lead construction for the Ledgestone facility, which is set to begin in June 2015.
Yonkers Assisted Living Facility Plans $24 Million Expansion
The Yonkers Industrial Development Agency’s (IDA) Board of Directors granted an initial approval this week to Center Management Group, LLC, which is proposing to expand its Westchester Center for Independent and Assisted Living, reports Westfair Online.
The Queens-based owner and operator wants to demolish a vacant building on the property of its facility and replace it with a 158-unit facility, The Plaza at Westchester, which will house an estimated 200 residents.
If the project is approved, the Yonkers IDA will grant Center a $1,005,000 exemption on sales taxes for materials used in construction, a $388,800 mortgage tax exemption and a temporary property tax abatement.
Center Management Group aims to complete the project by the first quarter of 2016.
Construction: In process
Brookdale Embarks on $18 Million Expansion for Upscale Wisc. Community
To meet the growing needs of seniors in the area, Brookdale Senior Living (NYSE: BKD) is expanding one of its communities in Madison, Wisc., through an $18 million, two-stage project, the company announced earlier this month.
The initial phase of Wynwood of Madison West’s expansion will center on constructing a larger upscale assisted living community that is scheduled to open in spring 2015.
For the past two decades, Wynwood of Madison has offered 48 assisted living apartments in its two-story structure.
Early next year, its assisted living program will move into a new three-floor adjacent building. Its 67 upscale studio-plus and one- and two-bedroom accommodations will be significantly larger and will be accompanied by amenities such as a two-story foyer, elegant dining area, pub/cafe, chapel, spa, beauty salon, arts and crafts areas and numerous patios including an outdoor fireplace. There will also be a dedicated space for therapy services.
In the project’s second part, the current two-story assisted living building will be updated and renovated to serve people with Alzheimer’s. In 2016, the community is scheduled to open two dementia care programs.
Wichita Presbyterian Manor Begins Phase II of $35 Million Campus Expansion
Wichita Presbyterian Manor, part of the nonprofit faith-based organization Presbyterian Manors of Mid-America, Inc., is beginning the final phase of a $35 million campus transformation of The Westerly Residences in Wichita, Kansas.
The second half of the transformation will add 90 brand new independent living residences in a variety of floor plan options, with amenities including multiple dining venues and various social, cultural, educational and spiritual programs and activities.
In total, the new residences will encompass 118,500-square-feet. The Westerly Residences will also feature a beauty salon and barbershop, an indoor aquatic wellness center and a library.
The Westerly Residences’ construction partners are general contractor Paric, headquarters in St. Louis, Missouri, and MKEC Engineering Consultants of Wichita.
The first phase of construction at Wichita Presbyterian Manor began in Summer 2013 and includes 48 assisted living apartments, 24 assisted living memory care suites, 50 skilled nursing suites, a PATH (Post-Acute to Home) rehabilitation wing and new health care common spaces, including a main kitchen.
Construction is expected to be completed on The Westerly Residences in November 2013.
Pinkard Construction Breaks Ground on $17 Million SNF
Lakewood, Colorado-based Pinkard Construction Company broke ground last week on The Center at Northridge, a skilled nursing subacute care facility managed by Veritas Management Group, a Colorado Springs-based firm that develops and manages high-end skilled nursing and subacute care facilities.
Designed by H+L Architecture, the new $17 million building is located in Westminster, CO. The company has offices in both Colorado Springs and Denver.
It will have 96 beds on three-stories, comprising approximately 75,000-square-feet with high-end finishes. Features will include a large rehabilitation gym, commercial kitchen and dining room.
Construction is scheduled to be complete before the end of 2015.
Groundbreaking Scheduled for Affordable Senior Housing Project
Maryland’s Montgomery County Executive Ike Legget and County Councilmember Craig Rice, along with Churchill Senior Living and Oakwood Properties, will break ground on Phase II of Churchill Senior Living in Germantown, Maryland.
The project will feature 133 senior housing units—121 of them designated as affordable housing and 12 market-rate units, according to an announcement from the County.
Of that total unit count, 30 units will be one-bedroom and 103 will be two-bedroom.
Counting the Phase I apartments, constructed in 2001, the Churchill Senior Living development will consist of 254 units on completion, 242 of which are affordable to seniors earning incomes not exceeding 50-60% of the average median income.
Financing for the project includes $17.2 million in Housing Opportunities Commission bonds and Montgomery County loans totaling $3.1 million.
Anthem Memory Care Opens Third Denver Community
Lake Oswego, Oregon-based Anthem Memory Care this week announced the opening of its newest community, Chelsea Place, the company’s third such facility in the Denver area in three years.
Located in Aurora, CO, the 38,000-square-foot community has 64 residences, and is led by Executive Director David A. Hoppe, a clinical social worker with more than 25 years of experience working with individuals and families. Hoppe previously served as director of family services for the Colorado Chapter of the Alzheimer’s Association.
Anthem first announces plans for Denver in July 2012 and opened its first location in Littleton, Highline Place, in July 2013. It was followed in August 2014 with a second Littleton location, Willowbrook Place.
In addition to Chelsea Place, Anthem plans a fourth location, Greenridge Place, that is scheduled to open in February also in Westminster.
Written by Jason Oliva