Affordable housing in California continues to be a hot topic, especially when it comes to senior housing for low income seniors. A 75 unit apartment complex called the Sahara Senior Villas is nearing completion in Hemet, California. This project will be the area’s first affordable, low-income housing for seniors in the area with rents ranging […]
Category: Finance & Development
The Fountain City, Indiana Lions Club broke ground last week on their $1.1 million dollar low-income, senior housing project. The club worked for 3 years to secure the property, financing and permits to build the 12 units project. Units are available to seniors over 62 years of age and that earn 40-60% of the area’s […]
A new senior housing facility with 67 units opened this month in Springfield, Illinois and the project received support from the state of Illinois with almost $8 million dollars in state loans and tax credits. The facility was constructed by non-profit developer Abundant Faith Christian Center. Sixty of the units are reserved for low income […]
Providence Community Housing and Enterprise recently announced the investment of $41 million in Gulf Opportunity (GO) Zone low-income housing tax credit equity to renovate three senior apartment buildings and one multi-family apartment building as part of a partnership to redevelop 7,000 houses and apartments damaged by Hurricane Katrina for low-income seniors and families. The Gulf […]
The California Housing Finance Agency (CalHFA) has approved $5.525 million in long term, 30 year fixed rate loans which will allow the owners of an existing affordable housing complex in Los Angeles to preserve affordable senior rentals in LA county. The building, which houses 88 units, will undergo a seismic retrofit and receive replacement windows […]
The Seniors on Broadway, an expansion of a current senior housing project in Eagle, CO, is on track to be completed in the spring of 2008. The $2.7 million project is financed in part by Eagle County, which kicked in $800,000; and in larger part by tax credits of approximatley $1.9 million. The project complements […]
The housing situtation in Las Vegas has been the story of boom and bust over the last few years and the affodability of living in Las Vegas has become a challenge for those wanting not only to live there, but work there. The concept was acquiring land from the Bureau of Land Management at a […]
Capital Senior Living Corporation, one of the country’s largest operators of senior living communities, today announced that it has entered into a definitive agreement with Hearthstone Senior Services, L.P. (“Hearthstone”) to acquire Hearthstone’s interests in 32 leases with a healthcare REIT. Capital Senior Living acquired 32 leased communities that are high-quality, newly constructed assisted living and dementia care […]
Hebrew SeniorLife, the Roslindale nonprofit that operates elder housing, healthcare, and research facilities, secured $457 million in funding last week. Construction on the $485 million dollar project began last summer and is scheduled to be completed in 2009. The community in Dedham will house about 800 seniors and have home for independent living, assisted living […]
Prudential Mortgage Capital closed a $80.3 million dollar loan for Brookdale senior Living. The portfolio consists of five assisted living, memory care and skilled nursing facilities in Ohio, Texas, Kansas and Kentucky. The portfolio includes the following: Homewood Residence at Richmond Heights in Cleveland opened in 2000 and boasts 78 assisted-living units and 17 memory-care […]
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