Omega, Maplewood Senior Living to Co-Develop $246 Million NYC Community
This week, Hunt Valley, Md.-based real estate investment trust (REIT) Omega Healthcare Investors (NYSE: OHI) and Westport, Conn.-based operator Maplewood Senior Living announced they will co-develop a $246 million luxury senior living community on Manhattan’s Upper East Side.
The luxury senior living residence will be developed on a site comprised of 1802, 1804-06, 1808 and 1810 Second Avenue and 303-305 E. 93rd Street. Development plans call for razing the buildings to construct a single tower.
Demolition and site preparation is slated to begin mid-year 2016 with the tower completion expected by early 2018.
The 20-story tower will span 201,000-square-feet, offering 214 units for independent living, assisted living and memory care.
The properties were purchased by two subsidiaries of Omega from five sellers for a total of $112 million in an all-cash transaction. Michael Besen and Rolfe Haas of Bensen & Associates represented all five of the sellers.
The total project cost will be $246 million, inclusive of the land acquisition price.
Handel Architects has been selected by Maplewood to design the luxury senior living residence, which will be Maplewood’s first facility in New York State.
Construction: In process
Integral Senior Living Breaks Ground on New Calif. Community
Carlsbad, Calif.-based Integral Senior Living (ISL) announced last week that it had broken ground on the development of a new memory care community it manages, Heritage Hills of Oceanside.
The two-story building will feature four neighborhoods, located on a reserve with gold course views. To take advantage of these views, ISL says there will be outdoor patios for residents.
Upon completion, Heritage Hills will have 64 memory care units offering choice of private and semi-private residences.
ISL anticipates the community will open in Oceanside, Calif. in mid 2016.
Currently, ISL manages 58 independent, assisted living and memory care properties throughout California, Arizona, Utah, Idaho, Texas, Colorado, Oregon, Washington, Illinois, Michigan, Missouri, Alabama, Oklahoma, Tennessee and Florida.
Civitas Senior Living Announces Three New Senior Living Developmnets
Fort Worth, Texas-based Civitas Senior Living this week released a series of announcements detailing three projects the company is currently building in Texas.
Of those project, Civitas has broken ground for Ledgestone Senior Living, a community that offers independent living and assisted living, as well as memory care.
Construction began in late June on the development, which will be the seventh property in Civitas’ portfolio.
The building will include 120 independent living apartments, approximately 60 assisted living studio suites and one-bedroom units and 10 semi-private memory care units.
Amenities at Ledgestone will include a pool, gym, spa, wellness center, walking trails, club house and elegantly landscaped grounds. The independent senior apartments will feature balconies, island kitchens and multiple floor plans including one-, two- and three-bedroom units with walk-in closets.
Trepex Construction of Austin will lead the development. Upon completion, Ledgestone Senior Living will be managed by Civitas, which also owns the community.
In other Civitas development news, the company also announced this week that it will be opening a new assisted living and memory care community in the Ridglea area of West Fort Worth, The Ridglea.
This community will be a 75-unit development with a second phase of independent living cottages to follow. Features will include outdoor walking paths, a dog park, wellness center, beauty salon, and multi-media room.
Trepex Construction will also be building The Ridglea.
The third senior living community for which Civitas has already begun construction is Clear Fork Señor Living, which will offer assisted living and memory care in Willow Park, Texas.
The project is a joint venture between Civitas and Sandlin Capital LLC/2MR Capital, LLC. Funding for the project has been obtained through Community National Bank and Trust of Texas in Weatherford, Texas.
Donica Construction and Development will be the developer for the Clear Fork property, which has building plans that call for 38 assisted living studio suites and one-bedroom units, along with 24 private and semi-private memory care units.
Clear Fork amenities will include a gym, spa, wellness center, walking trails, club house and elegantly landscaped grounds.
Life Care Services Underway on Orlando Senior Living Project
Gentry Park Orlando, an assisted living and memory care community managed by Life Care Services, an LCS Company, has begun accepting priority reservations on 84 new residences set to open early fall 2015.
The new community will include 30 apartments dedicated to memory care on its 30-acre campus in Orlando, Fla.
Gentry Park Orlando is a response to the growing demand for senior housing in the Orlando marketplace, Life Care Services said in a press release.
At the state level, Florida seniors represent 20% of the population, whereas the age-65 population nationally represents nearly 13% of total U.S. population, according to data from the Administration on Aging.
Gentry Park offers single and couple residences as well as private studios for assisted living. Housekeeping and a variety of other services are available for residents, along with amenities that include a cinema, bistro, library and outdoor patios.
For those who need specialized care, Gentry Park will offer Heartfelt CONNECTIONS Memory Care Program, a trademarked program that helps adults in cognitive decline focus on celebrating their accomplishments and legacy in a comfortable, low-stress environment.
Gentry Park is located at 3201 Centre Pointe Drive in Orlando, near the intersection of Curry Ford Road and Route 417.
Indianapolis-based firm Mizak LLC is the developer of Gentry Park Orlando.
Perkins Eastman Starts Work on VA Long-Term Care and Rehab Center
International design and architecture firm Perkins Eastman last week announced that it has begun construction on Phase 1 of the Central Arkansas Veterans Homes in North Little Rock, Ark.
Comprising 12 new resident homes with a capacity for 168 residents, the new Community Living Centers will provide veterans of varying ages with integrated community households that are designed to treat all manger of needs, including long-term care, dementia care, respite and rehabilitation services.
The new 87,100-square-foot campus will be situated on a bluff in North Little Rock, overlooking the Arkansas River and within the historic Fort Logan H. Roots military base.
Phase 1 will consist of eight new resident homes, a Community Building and maintenance facility, with Phase II creating four additional homes.
Each home will comprise 9,600-square-feet of space, including 10 single-occupancy rooms and two double-occupancy rooms, all with private bath; centrally located common areas including a living room, study, dining room, kitchen and den—all featuring natural light and ventilation. Front and back door porches will also be included.
The Chicago office of Perkins Eastman is providing the architecture, planning and interior design services for the new Homes.
Singh Development Breaks Ground in Ashburn, Va.
Mich.-based developer Singh Development announced this week the start of construction of its first senior living community in northern Virginia, dubbed Waltonwood Ashburn.
The project will consist of a total of 213 units and include 114 independent living apartments, 72 assisted living units and 27 memory care units.
The units will be fully integrated into a 287,000-square-foot community on a 14.9 acre site with preserved woodlands and wetlands to add to the ambiance of the living environment.
Waltonwood Ashburn will include amenities such as restaurant-style dining, a cafe, billiards and games room, home theatre, arts and crafts, greenhouse, a dog park, state of the art fitness center and a salt water swimming/therapy pool.
Waltonwood Ashburn will be located at the southeast corner of Ashburn Village Boulevard and Russell Branch Parkway, just south of Route 7.
The community will be located across the street from Ashbrook Commons Shopping Center and minutes from the Inova Loudoun Hospital, as well as the new “One Loudoun” mixed-use community to the east.
The community is the first in Singh’s development plan for expansion into the northern Virginia and the greater Washington, D.C. market, and it’s 11th overall Waltonwood community.
A second Waltonwood community is planned in the South Riding area of southern Loudoun County for next year.
All projects are wholly owned by Singh and continue to be owned and managed by the Singh management entities, including Singh Senior Living for all of the Waltonwood communities.
Thrive Senior Living Nears Completion of $15 Million Greer Facility
Construction is nearing its completion on Thrive Senior Living’s newest community in Greer, S.C., reports local Greer Today.
Thrive Assisted Living and Memory Care is on schedule to house its first residents come September, the article states. The community features 89 private resident suites, with a dedicated wing for 25 memory care units.
At $15 million, the complex is being developed by the Atlanta-based Thrive and Pulliam Investment Company based in Spartanburg, S.C.
The community will feature several cutting edge technologies, including Smart Suite motion detectors and chips in wristbands to detect resident activity when alone or during the night.
Amenities include an activity center, beauty salon, spa, coffee shop and a fitness center.
The Greer community is located at 715 South Buncombe Road, across from the Greer Memorial Hospital campus.
Sunrise Opens New Ohio Senior Living Community
Sunrise of Dublin, the newest community from McLean, Va.-based Sunrise Senior Living, will begin accepting its first residents this month, the company announced in a press release this week.
Located in the Columbus area, Sunrise of Dublin joins 11 other Sunrise communities throughout the state and will be the first senior living community in Ohio to offer a specially designed memory care program and dedicated neighborhood for younger residents with Alzheimer’s and other forms of dementia and memory loss.
This exclusive younger-onset memory care neighborhood will provide age-appropriate programming and activities, Sunrise stated. Sunrise’s Younger-Onset Memory Care, which has been developed by leveraging evidence-based research, focuses on providing a holistic and person-centered approach to enrich each resident’s mind, body and spirit through art, family involvement, music, physical activities, integrated support groups and more.
The new, three-story, 66,000-square-foot community will provide assisted living in addition to memory care services, as well as short-term stays and hospice care coordination for seniors and their families. The community will offer approximately 80-units, with a resident capacity of 95.
Design features include a cafe for socially engaging programs, a long counter in the bistro area to encourage social conversations, smart TV, interchangeable art and door elements for way-finding.
Sunrise of Dublin is located at 4175 Stoneridge Lane in Dublin, Ohio. The community will host an open house Saturday, August 8, where the public will be invited to take a tour, meet the Sunrise team and learn more about the community.
Written by Jason Oliva
Companies featured in this article:
Civitas Senior Living, Donica Construction and Development, Handel Architects, Integral Senior Living, Life Care Services, Maplewood Senior Living, Mizak, Omega Communities, Perkins Eastman, Pulliam Investment Company, Singh Development, Sunrise Senior Living, Thrive Senior Living, Trepex Construction