In the Pipeline: Senior Housing Construction Projects (12/10/15)

Construction: Planned

Aspire Development Partners Plans Fla. Senior Living Community

Atlanta-based senior housing developer Aspire Development Partners recently announced plans to develop a new senior living community in the north Florida island community of Amelia Island.

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Construction is scheduled to begin in early 2016 on the project located on Amelia Island Parkway near the Fernandina Airport. Project plans call for 100 units of independent living and 75 units of assisted living and memory care residences.

Aspire has incorporated the forthcoming development into a resort-like campus situated on a picturesque 12-acre site. The project is expected to add nearly 300 new operational and construction jobs to the area.

Texas-based studioSIX5 Design is providing interior design services for the project, which is sponsored by LFW Investments, the real estate arm of local Amelia resident, Leo F. Wells.

Wells recently opened The Reserve at Amelia, a luxury apartment community in nearby Yulee, Fla.

Ecuman Plans to Build Senior Co-op on Luther Seminary Land

Minn.-based non-profit senior living provider Ecumen recently signed a land purchase agreement in St. Paul, Minn., with Luther Seminary to develop a senior cooperative on its land.

Luther Seminary is the largest of the eight seminaries in the Evangelical Lutheran Church in America. The land sale is part of the Seminary’s ongoing campus property strategy, which aims to enhance the overall student learning experience and improve the stewardship of its real estate assets.

Dubbed the Como 2030 Plan, the development is included in the City of St. Paul’s Comprehensive Plan, which calls for adding housing that provides “lifecycle housing options, particularly for the growing population of seniors in the neighborhood,” according to a release from Ecumen and Luther Seminary.

An assessment of the Seminary’s property last year showed that Luther had underutilized land and buildings, as well as much-needed renovation work to do in some of its older buildings. These findings led the decision to rent open space to education and non-profit groups.

The planned senior co-op site is on 1.6 acres at the southeastern edge of the Seminary’s campus near the corner of West Luther Place and Como Avenue.

Project plans call for a three-story building that will include approximately 50 units and underground parking. Already, more than 60 individuals have expressed early interest in moving to the senior co-op, Ecumen and Luther Seminary stated in a release.

Sales for the co-op will begin in spring 2016 and the project completion is expected in late 2017.

Construction: In process

Thrive Senior Living Breaks Ground on Community for St. Simons Island, Ga.

Atlanta-based Thrive Senior Living announced this week that it is breaking ground and starting renovations on Thrive at Frederica, a new senior living community on St. Simons Island, Ga.

Thrive at Frederica will focus on resident engagement and connectivity in a resort-like environment, using a blend of technology that will offer a distinctive experience aimed toward a new generation of seniors.

The 92-unit community will feature a spa, salon, movie theater, full service restaurant and bar, along with an outdoor courtyard with a fireplace that can be enjoyed by residents all year.

Licensed as an assisted living community, Thrive at Frederica will cater to seniors ranging from those who are completely independent to those who need more care. There will also be two separate and distinct neighborhoods within the community—one for assisted living and an adjacent memory care area.

Residents at the community will be able to access their apartments using an advanced RFID system, eliminating the need to carry traditional keys. Other technology includes activity trackers and in-room monitoring systems, which learn each resident’s routine and patterns, and can report anomalies and trends should they arise.

A unique project feature for the community will repurpose the classic Island Design and Architectural Center building, rather than demolishing it, Thrive stated in a release.

Thrive at Frederica is a joint venture between Thrive Senior Living and AIG Global Real Estate.

Construction financing has been provided by State Bank & Trust, with construction by New South Construction of Atlanta. Design was provided by THW Architects, also of Atlanta.

Gardner Development Breaks Ground on Centerville Cottages Senior Living Community

Springfield, Mo.-based Gardner Development last month held a groundbreaking celebration for the construction of Centerville Cottages Senior Living Community in Kearney, Mo.

The new development, which is slated for completion in late 2016, will provide more living space for seniors in the City of Kearney. Every community with a senior housing program had a waiting list for senior residents. So the residents of the city wrote to the Missouri Housing Development Commission to request the Missouri affordable law income housing tax credit.

An independent living community, Centerville Cottages will offer 48 spacious two-bedroom rental residences. There will also be a community center that will include onsite offices to provide central resident gatherings for indoor and outdoor social events.

Centerville Cottages is a partnership among the City of Kearney; Missouri Housing Development Commission; Alden Torch Financial Century Real Estate Services; Baron Design and Associates, LLC; Double Diamond, LLC: and Gardner Capital, Inc.

Enterprise Community Investment Invests $7.8 Million in Md. Affordable Project

Enterprise Community Investment, Inc., a company that develops housing for low- and moderate-income residents, last week announced a $7.8 million Low-Income Housing Tax Credit deal to create the second phase of The Lodges at Naylor Hill, an affordable housing community for seniors in Salisbury, Md.

When construction completes in October 2016, the new building will contain 45 one- and two-bedroom apartments with rents ranging from $344 – $749.

The new development will be split into 36 one-bedroom and nine two-bedroom apartments, seven of which will be set aside for seniors with disabilities.

In terms of amenities, residents will have access to a community room, computer room, exercise and laundry facilities. Additionally, a resident services coordinator from the nonprofit Maintaining Active Citizens will provide recreation activities, transportation, light housekeeping, health screenings and other services that promote independent, healthy living.

The nonprofit organizations Volunteers of America National Services, Inc. and Interfaith Housing Development Corporation of the Maryland Eastern Short, Inc., are serving as co-sponsors and co-developers of the project.

Enterprise made the $7.8 million investment through its Enterprise Housing Partners 26 Fund, the organization’s largest multi-investor fund to date.

In 2007, the first phase of The Lodges at Naylor Mill opened. This portion of the community has a waiting list of 161 people, making the Phase II project a critical addition.

The Lodges at Naylor Mill is located at 29339 Naylor Mill Road in Salisbury, Md.

Construction: Completed

LCB Senior Living Announces Grand  Re-Opening of Mass. Community

Nowrood, Mass.-based LCB Senior Living on Wednesday is celebrating the grand re-opening of The Residence at Pearl Street in Reading, Mass.

The community, which recently finished a major renovation, includes 87 apartments offering independent and assisted living, along with a brand new neighborhood dedicated to residents with Alzheimer’s Disease and other forms of dementia.

The Residence at Pearl Street provides more than 70 permanent jobs ($1.8 million annual payroll), and is one of the largest employers in the area, LCB Senior Living stated in a press release.

Written by Jason Oliva

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