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North Carolina Community Prepares for Construction
Lake Prince Woods, a continuing care retirement community (CCRC) in Suffolk, Virginia recently completed its capital campaign ahead of a $13.5 million renovation, senior living operator EveryAge announced.
The effort will improve amenities and memory care services on the 172-acre campus. The new funding will allow for a new wellness center and renovations to the community’s commons area while improving memory care and assisted living spaces.
The first phase of the project will include the wellness center and commons area, with construction expected to start this fall. The second phase of work to update memory care and assisted living spaces has not yet received a start date, EveryAge said.
Construction: In progress
Bonaventure announces construction on Virginia project
A 133-unit luxury senior living community in Alexandria, Virginia recently started construction, developer Bonaventure announced, located in Old West Town.
The development features a six-story building with underground parking along with studio, one and two bedroom units. Amenities include 4,550 square-foot restaurant, 24-hour fitness center, club lounge, business center and media room. Outdoor amenities include a community garden and gazebo.
Construction on the project is expected to wrap next year and welcome residents by “late 2023,” a news release on the project said.
This development comes as Bonaventure announced it would spend $200 million to create a senior living pipeline in 2019.
Bonaventure has over $1.5 billion of assets and manages over 6,000 apartment units across 31 communities in the mid-Atlantic and Southeast.
Other noteworthy projects include:
— Plans for a mixed-use development could include senior living units in Holly Springs, North Carolina was recently announced.
–Oregon-based Hawthorn Senior Living broke ground on a $40 million community in Kennewick, Washington.
— A $35 million senior living community near East Lansing, Michigan is set to open this fall.
— The 222-unit Watermark at Houston Heights in Houston, Texas is now open.