In the Pipeline: $25M to Redevelop 3 Alabama Properties; Experience Senior Living Project Moves Forward

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Construction: Planned

Site plan approval for Experience Senior Living project

Experience Senior LIving (ESL) received site plan approval for the project, The Reserve at Strathmore Square, an upscale community planned for North Bethesda, Maryland.

The master developer on the project is Fivesquares Development, with an anticipated groundbreaking set for the fourth quarter of this year.


The 29-story, 413,140-square-foot development will house 259 apartment homes dedicated to IL, AL and memory care. The community will feature seven restaurant venues, private wine lockers, makerspace for creative projects, chauffeur service and a 24-hour concierge.

AHEPA Senior Living to rehabilitate and preserve three Alabama properties

Nonprofit AHEPA Senior Living will rehabilitate and preserve three senior living properties in Mobile, Alabama.

The organization announced closing of $25.18 million under the new federal program RAD for PRAC, a process that allows nonprofits to renovate senior living communities for long-term revival.


The deal was first closed on Aug. 3. The financing is made up of $11.8 million in tax-exempt bonds from the Alabama Housing Finance Authority, $7.39 million in low-income housing tax credit equity and $6 million in a HUD 221 D4 mortgage loan.

Renovations to AHEPA 310 Phases V, VI, and VII Apartments will be made to the units and common areas. Construction will start in September.

Construction: Completed

Oakwood Meadow now open in Virginia

In a partnership with Fairfax County and Arlington Partnership for Affordable Housing (APAH) the Oakwood Meadow Senior Residences is now open.

The new affordable housing community for older adults is located in Arlington’s Franconia District and features one and two-bedroom apartments for qualifying adults aged 62 and older. Income requirement restrictions of the area median income are in place for prospective residents.

With over 6,000 square-feet of amenity space, residents can enjoy multiple community rooms, a game room, library, sunroom, garden, package locker, fitness center, laundry, shuttle service and outdoor lounge.

Other noteworthy projects

Construction: Planned

-The Oakwood Park Development in West Hartford, Connecticut will now include more AL units.

-Plans for a Brightview Senior Living community in Westchester, New York were recently announced.

-Plans announced for Huntington Beach, California senior living community.

Construction: In Progress

-Construction at Bird Island, Minnesota AL community starts.

-Construction underway for $40 million Grand Rapids, Michigan affordable housing project.

Construction: Completed

-Affordable senior living apartments now open in Los Angeles.

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