In the Pipeline: Senior Housing Construction Projects (12/23/14)

Construction: Planned

MorningStar Senior Living, Nye Health Services Team on Memory Care Project

Denver, Colorado-based MorningStar Senior Living, LLC, along with Nye Health Services of Fremont, Nebraska, announced plans last week to build a memory care expansion through their new partnership.

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Effective January 1, 2015, MorningStar will assume the daily operations of River Rock Assisted Living in Jackson, Wyoming, while Nye will continue to own the community.

As MorningStar oversees the development of an annex of memory care-dedicated suites at the community, the property will be renamed MorningStar of Jackson Hole.

MorningStar will begin working with County Planners, the Rafter J Homeowners Association and the Wyoming Department of Health in January on its memory care concepts, the company stated in a release.

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Nye will provide financing for the expansion and an interior renovation of the existing 57-suite community, which opened in 2004.

LGBT Senior Housing Approved for San Diego

The San Diego Planning Commission last week voted to recommend that City Council approve the proposed development of a 194-unit senior housing community in North Park that will LGBT-friendly, according to the Commission’s meeting agenda.

Not-for-profit organization Community HousingWorks (CHW) proposes to build a 76-home senior apartment building and a 118-home multifamily complex, in partnership with the San Diego LGBT Community Center.

The project would construct a new, six-story 145,213-square-foot market rate multifamily residential building, providing 118 residential units and a total of 151 parking spaces on a 1.21 acres lot at 4220 Arizona Street.

Additionally, the project proposes to construct a five-story 83,557-square-foot, for-rent senior housing residential building, providing 76 units and 58 parking spaces on a 0.56 acre lot located at 4212 Texas Street.

While the senior apartments will be open to any and all who meet the age and income requirements, the LGBT complex is specifically meant to address a 2011 community needs assessment led by The Center, which found that LGBT seniors’ greatest concerns included fears of lack of access to safe, affordable and affirming housing options.

Twenty-three of the senior apartments will be restricted to very low income households earning 50% or less than the county’s median income.

CHW’s intent is to find additional funding sources to break ground in 2016 with all 76 of the apartments to be affordable.

Once the proposed development is approved by the City Council, CHW will seek an allocation of low income housing tax credits, which it plans to use for financing the development of all 76 senior apartments as affordable.

$23 Million Assisted Living Project to Serve Veterans

Developers are making headway on a $23 million, 119-unit senior living community built for veterans and retired military personnel near Mayport Naval Station in Jacksonville, Florida, reports Jacksonville Business Journal.

Anthem Lakes Assisted Living Facility will feature 91 units in a two-story building structure for assisted and independent living. A separate 28-unit memory care building is also slated for the community.

Jacksonville-based general contractor Perry-McCall is expected to begin construction in June and has already secured $18 million in financing, according to JBJ.

Construction: In process

Developer Makes First Foray into Memory Care Development

In partnership with Wichita, Kansas-based Oxford Senior Living, CarrBaierCrandall Real Estate Group of Kansas City, Missouri, has made its entrance into memory care development with its first project in Oklahoma.

CBC Real Estate Group was selected to develop a $6 million Oxford Glen Memory Care community positioned on the Bailey Medical Center campus north of Tulsa in Owasso, Okla.

The 24,000-square-foot building will house 36 private suites with interior design harnessing a home-like feel, similar to Oxford’s existing memory care communities in Derby, Kan. and the Dallas metroplex.

Oxford Glen Memory Care will be the first of multiple healthcare projects planned between Oxford and CBC.

The general contractor for the project is RECO Enterprises, Inc. of Tulsa, and the architect is LK Architecture, Inc. of Wichita.

The facility is scheduled to be complete in August 2015.

Construction: Completed

LTC Properties, Anthem Open New Memory Care Community

LTC Properties, a REIT headquartered in Westlake Village, Calif., announced Tuesday the opening of a new 48-unit memory care community in Aurora, Colorado.

The property is leased to affiliates of Anthem Memory Care under an existing 10-year master lease.

The $9.6 million project is LTC’s third development completed in partnership with Anthem in the Denver metro area. A fourth project, also in the region, is expected to open in the first quarter of 2015.

Additionally, through an exclusive development pipeline agreement with Anthem, LTC is financing the company’s expansion into Chicago, recently breaking ground on a project in Burr Ridge, Ill. that is expect to open in the fourth quarter of 2015.

Chicago CCRC Opens Outpatient Rehab Center

The Admiral at the Lake, a continuing care retirement community in Chicago, has partnered with Doctors of Physical Therapy and Alliance Rehab to open a new outpatient rehabilitation center on the ground floor of its community.

A Kendal Corporation affiliate, The Admiral at the Lake is a 31-story CCRC located on Chicago’s North Side. The community offers 200 residential apartments in a life-care community that also provides a full continuum of on-site, long-term health care services.

Alliance Rehab provides therapy services to Admiral residents in the new outpatient center. The company also provides short-term inpatient care for community residents and non-residents in The Harbors, The Admiral at the Lake’s Medicare-certified post-acute care suite.

The new outpatient center and The Harbors both offer a range of specialized programs, including therapy for fall prevention and balance management; stroke recovery; post-operative hop and knee replacement; COPD; among an array of other focuses.

Written by Jason Oliva

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