In the Pipeline: Senior Housing Construction Projects (12/17/15)

(Oasis at Scholar’s Landing, an affordable assisted living community in Atlanta – Photo provided courtesy of McShane Construction Company)

Construction: Planned

Motion Picture & Television Fund to Build $35 Million Kirk Douglas Care Pavilion

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In celebration of actor Kirk Douglas’ 99th birthday, the Motion Picture & Television Fund (MPTF) announced plans to build a $35 million facility that will provide memory care and skilled nursing services in his honor.

The Kirk Douglas Care Pavilion will be located on the MPTF’s campus in Woodland Hills, Calif., and is expected to break ground in late 2016. Project plans call for a two-story home for 80 industry members struggling with Alzheimer’s as well as long-term skilled nursing care needs.

Residents of the Pavilion will live in small neighborhood environments that look and feel more home-like as opposed to the typical hospital setting. The Pavilion will also include a wandering garden and other contemporary amenities and programs for residents.

As a charitable organization, the MPTF provides financial assistance and services essential to the well-being of the community. The organization is supported by the generosity of corporate donors and fellow entertainment industry members.

Kirk and Anne Douglas are some of the largest donors in the history of MPTF giving, with over $40 million of lifetime philanthropy, said Jeffrey Katzenberg, chairman of the MPTF Foundation, in a written statement.

MedProperties Closes JV to Develop Autumn Leaves Community in N.C.

Dallas-based private equity firm MedProperties Holdings LLC this week announced it has closed a joint venture investment to develop a 54-unit memory care community in Fort Mill, N.C.

For the planned Autumn Leaves of Fort Mill Memory Care Facility, MedProperties partnered with The LaSalle Group, a developer and operator of senior housing communities headquartered in Irving, Texas.

The total development cost for the 37,500 square foot Autumn Leaves of Fort Mill is about $11.7 million, including transaction costs, said MedProperties in a written statement.

Soon-to-be-constructed, the development will be located in the Township of Fort Mill, within York County, S.C. Specifically, the project site is located at 1075 Gold Hill Road.

Autumn Leaves of Fort Mill marks the fifth memory care investment with The LaSalle Group that MedProperties has made through its primary fund, MedProperties Investment Partners LP. Overall, the project is the ninth joint venture between the two companies.

Construction: In process

American House Developing Two Mich. Memory Care Communities

Bloomfield Hills, Mich.-based American House Senior Living Communities continues its Michigan expansion with the addition of two new memory care communities in Rochester Hills and Roseville.

Both communities will include 40 units of licensed memory care and will share a campus with existing American House communities. Southfield, Mich.-based company REDICO will be the developer of each project.

The standalone community in Rochester Hills will share a campus with American House Village located at 3617 S. Adams Rd. This community is slated to open in late 2016.

Meanwhile, American House East I, located at 17235 Common Rd. in Roseville, will share its campus with the Roseville memory care community. The community is set to open in September 2016.

American House and REDICO closed the deal in late November with Austin, Texas-based private equity firm Virtus Real Estate Capital.

Mich.-based Talmer Bank and Trust served as lender for both developments.

Artis Senior Living Breaks Ground on Four Assisted Living Communities

McLean, Va.-based Artis Senior Living this week announced the groundbreaking of four assisted living communities in the Midwest and Northeast.

Located in Branford, Conn.; Elmhurst, Ill.; Green Township, Ohio; and Reading, Mass., these projects will accommodate over 270 seniors living with Alzheimer’s and other forms of dementia.

The communities in Branford, Elmhurst and Green Township are comprised of four distinct neighborhoods meant to create a smaller, familiar setting, which includes a living room den, a residential kitchen and a dining room where meals are served.

These neighborhoods connect to a “Town Center” that features amenities including a health center, community center, a studio, beauty/barber shop and access to secure, spacious outdoor courtyards.

In Reading, Mass., this two-story Artis community will feature interior amenities common to all of its communities, along with the addition of a café in the Town Center.

The new Artis communities join future projects in Evesham Township, N.J.; Boca Raton, Fla.; and Lower Moreland, Pa., as well as an existing community in Mason, Ohio.

Avanti Senior Living Developing Three Communities for Arizona Expansion

The Woodlands, Texas-based developer and management company Avanti Senior Living recently announced plans to expand into Arizona with three new communities slated for the markets of Peoria, Goodyear and Mesa.

Estimated at 77,000 square feet, the $15 million communities will serve up to 150 seniors in each location. Each community will also bring a “unique balance of sophisticated living, cutting-edge design and technology” in efforts to overcome the common misperceptions associated with senior housing, said Avanti CEO Tim Hekker, in a written statement.

Each Avanti community features resort-style amenities and entertainment options. Architecturally, Avanti aims to redefine aesthetics for design in senior housing by providing a stimulating assortment of textures and colors, technology, natural lighting and vibrant artwork throughout each community to engage residents’ senses in various ways.

Amenities found at each Avanti community include themed courtyards, a true art studio, an exercise room with a ballet bar and a full-service salon and spa, a nail bar and hair services.

Launched in 2013, Avanti Senior Living owns, develops and operates senior living communities. The company targets three main markets for its developments in Texas, Louisiana and Arizona, before moving into other markets nationwide.

Honolulu CCRC Slated for 2016 Opening

Kalākaua Gardens, a new continuing care retirement community (CCRC) in Honolulu is currently under construction and scheduled for completion in early 2016.

Managed by Avalon Health Care Group, a national provider of short- and long-term rehabilitation and medical care, Kalākaua Gardens will be the first monthly rental senior living community in Hawaii to provide independent living, assisted living, skilled nursing and memory care under one roof.

Residents will be able to enjoy farm-to-table cuisine, a movie theater, fitness center, wellness programs, a spa and salon, complimentary Wi-Fi, cable TV, housekeeping, linen services, a chauffeur, social outings. special events, among other amenities.

Kalākaua Gardens is located at the gateway to Waikiki in the Ala Moana precinct.

Preston Hollow Capital Finances Omega Communities Renovation Project

Dallas-based specialty finance company Preston Hollow Capital announced this week that it has completed a $14 million bond financing with the Medical Clinic Board of the City of Hoover, Ala., to facilitate Omega Communities’ purchase and renovation of the Riverchase Village Senior Living Community, also located in Hoover, a suburb of Birmingham.

The project, to be known as River Highlands, will result in a 120-unit facility comprising approximately 90,000 square feet. Birmingham-based principals with Greenbrier Senior Management will manage the project.

Preston Hollow Capital was launched in 2014 by Jim Thompson, former longtime president and CEO of ORIX USA Corporation.

Construction: Completed

Brookdale Completes $30 Million Expansion at Minn. Community

On December 1, Brookdale Senior Living (NYSE: BKD) completed a $30 million expansion at its Brookdale Edina community, named for the suburb of Minneapolis in which the property is located.

As part of the expansion, the community remodeled independent living and assisted living apartments throughout the building, and added 36 memory care units to its offerings. The community is currently accepting reservations for all apartments, including six luxury penthouse apartments that are part of Brookdale Edina’s independent living features.

The newly added memory care units will feature Brookdale’s signature memory care program, Clare Bridge, which serves residents living in dementia’s middle to later stages.

Construction also added a new main lobby, bistro, library, dining room and activity area to the community as common areas for residents and their guests.

Erickson Completes Sales Center Amid CCRC Construction in N.C.

Earlier this month, Erickson Living held a ribbon-cutting ceremony to celebrate the completion of the Sales Center at Windsor Run, a CCRC located in Matthews, N.C.

The Sales Center is the first building to be completed on the property, with the next building phase entailing the construction of independent living apartment homes and a community clubhouse projected for completion in 2017.

Windsor Run is the newest community introduced by Erickson and the first located in N.C. Currently, over 24,000 residents reside in 17 Erickson Living communities in 10 states.

McShane Construction, IBG Construction Services Complete Atlanta Affordable Housing Project

Rosemont, Ill.-based McShane Construction Company formed a joint venture with IBG Construction Services, LLC, to complete a 60-unit affordable assisted living senior housing community in Atlanta on behalf of developer The Integral Group, LLC.

Oasis at Scholar’s Landing is a three- and four-story complex located on a 2.1 acres site at the intersection of John Hope Drive and Parsons Street in Atlanta. In total, the development consists of 65,193 square feet.

Along with 60 one-bedroom units, the complex also incorporates a fitness center, hair salon, commercial kitchen and dining room, two activity rooms and a covered patio for outdoor entertainment.

The residences was constructed to meet EarthCraft Certification through the use of numerous sustainable design and construction features, including low VOC materials and Energy Star appliances.

The project was partially funded by the Georgia Department of Community Affairs’ Low Income Housing Tax Credit Program and the Atlanta Housing Authority.

Kitchen & Associates provided the architectural services for this multi-family assignment.

Written by Jason Oliva

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