Senior housing operators will be forced to address the growing need of low- to moderate-income seniors in the coming years, as an estimated 3.5 million seniors today don’t have enough money to pay for higher acuity services. The high-end senior living facilities that have emerged within the past few years just won’t cut it when […]
Category: Affordable Housing
Maine seniors, along with affordable housing, home care, general contractors and other aging services stakeholders are rallying around a comprehensive package of proposals that aim to strengthen the state’s aging in place resources that go beyond traditional assisted living and nursing homes. Mark Eves (D-North Berwick), speaker of Maine’s House of Representatives, last week unveiled […]
Construction: Planned Developer to Build $17MM, 124-Unit Affordable Senior Housing in Texas Miller-Valentine Group, a Dayton, Ohio-based real estate developer, plans to build a $17.7 million, 124-unit affordable senior housing community in Fort Worth, Texas, reports Fort Worth Business Press. The Reserve at McAlister community will sit on 7.5 acres and will include 22 rental […]
Construction: Planned LCB Senior Living Gains Approval for 84-Unit Project in New Hampshire Norwood, Mass.-based operator and developer LCB Senior Living this week received Planning Board approval to construct its newest project, The Residences at Salem Woods. The 72,000 square-foot, 84-apartment building will include a mix of studio, one-bedroom and two-bedroom apartments, along with a […]
Construction: Planned Developers Near Construction on $30MM Michigan Senior Living Village Brighton, Mich.-based Unified Property Group is readying a groundbreaking next month on its latest endeavor, a $30 million “senior living village” in Pittsfield Township, Mich., reports MLive. The Pittsfield Township Planning Commission recently approved the final site plans presented by Unified Property Group, which call […]
Where looming demographics and a lack of adequate supply are widening the rift between high-end and affordable senior housing, some providers have found solid ground in the middle-price point development market. Providers who have begun to target the middle-income bracket have already seen rewards in the form of lower development costs and the anticipated demand […]
Here’s a roundup of some of the most recent financing transactions in senior housing and care. Housing & Healthcare Finance Closes $205M HUD Loan for SNF Portfolio Housing & Healthcare Finance (HHC Finance) closed a $205 million HUD loan portfolio consisting of 25 skilled nursing facilities located in the Southeast. The 232/223(f) loans refinanced existing […]
Construction: Planned Jacksonville, FL Senior Living Towers to Undergo $8.5M Makeover A 12-story affordable senior living apartment complex in the San Marco neighborhood of Jacksonville, Florida, will soon undergo an $8.5 million renovation, reports Jacksonville Daily Record. Previously known as Baptist Towers, The Towers of Jacksonville senior living complex will be remodeled by The FaverGray […]
The majority of Americans think finding quality affordable housing is a challenging obstacle and, despite experts’ opinions that the housing crisis is over, 70% of the American public thinks the country is still in the midst of it or that the worst has yet to come — and seniors are no exception, according to a […]
Construction: Planned Plans Move Forward for $30 million Michigan Senior Living Village Preliminary site plans for a $30 million senior living community in Michigan were approved last week by the Pittsfield Township Planning Commission, bringing the development from Brighton-based Unified Property Group LLC closer to a groundbreaking, reports MLive. The project calls for a 175,000-square-foot […]
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