For those looking for blend a style of Japanese and California architecture and style for a retirement community, look no further. An Arleta, California assisted living facility, Nikkei Senior Gardens, is nearing completion and is marketing itself as a blend of east-west cultures by providing three nutritious Japanese and Western meals daily. The facility will […]
Category: Development
The Los Angeles Times ran an interesting article last week entitled, City stuck with a South L.A. eyesore but has few options, that discussed a stalled, affordable / low income senior housing project that has been vacant for over a year. The Buckingham Palace project was constructed on Marlton Square, a mixed use development that […]
Earlier this week, Emeritus Senior Living announced that it closed on the purchase of five communities from affiliates of Ventas, Inc. (NYSE: VTR). The five communities were formerly leased by the Company and were acquired for a purchase price of $62.5 million, plus transaction costs of approximately $3.3 million and are comprised of 432 units […]
The National Association of Realtors® announced today that existing home sales and declined 8.6 percent to a seasonally adjusted annual rate of 4.49 million units in November from a downwardly revised level of 4.91 million in October. The national median existing-home price for all housing types was $181,300 in November, down 13.2 percent from November […]
Bailout nation gets another group asking for money, this time in the property developer segment. Large commercial property developers are now standing on the steps of capitol hill asking lawmakers for a piece of the bailout pie as they are concerned that many commercial mortgages that are coming due will not be able to be […]
This article in Indian Realty News discusses a new senior housing project in India that sounds a lot like a CCRC that specifically targets NRIs (Non Resident Indians) and their real estate needs. The article states that the cost of entrance is approximately 3,000,000 Rupees and a monthly expense of 10,000 rupees for the pleasure […]
Mortgage brokers and lenders have been busy this week. The good news is that borrowing is getting cheaper, unfortunately not easier. The same is true for developers that have existing, performing loans with lenders with the drop in the prime lending rate. With the 10 year treasury note around 2.10%, the market for conventional fixed […]
Land for a proposed gay and lesbian retirement village in Palm Springs, California that was affiliated with tennis legend Billie Jean King was foreclosed upon earlier this week. RainbowVision, which operates another retirement facility in Santa Fe, blamed the foreclosure on the economy and bank’s un-willingness to provide construction loans according to the article in […]
Capital Senior Living Corporation, one of the country’s largest operators of senior living communities, announced that it plans to suspend further development activities following the opening in the first half of 2009 of the two remaining communities under development. The Company believes that it is prudent to discontinue further development until general business conditions improve […]
Do the words “housing project” have a negative connotation in today’s economic environment? How about tossing in the word “senior”? Well many of the upscale areas in the United States are putting up major obstacles to permitting senior housing projects in their markets as seniors are showing a stronger desire to remain local to their […]
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