In the Pipeline: Senior Housing Construction Projects (11/28/2012)

Construction: Planned Delmar Gardens to Invest $33 Million Into Assisted Living Conversion Delmar Gardens Enterprises is planning to convert some of its independent living apartments into assisted living beds at five locations, according to papers filed with the Missouri Health Facilities Review Committee. The company proposes to invest about $33 million into expanding its existing […]

Senior Housing Finance Activity: Greystone, Health Care REIT, NorthStar Healthcare Income

Greystone & Co. Affiliate Closes $33 Million Affordable Housing Transaction in N.C. Greystone & Co., Inc. affiliate Greystone Affordable Housing Initiatives LLC (GAHI), a provider of affordable housing recapitalization and rehabilitation transaction management services, announced on Monday that it had closed a $33 million multifamily housing rehabilitation transaction in North Carolina that includes senior housing […]

Nonprofits: The Art of Negotiating a Sale

Divestitures, mergers and acquisitions-the words evoke an image of Wall Street and corporate wheeling and dealing, which seems like a far cry from the world of nonprofit senior living. There are many reasons that a nonprofit makes the decision to sell (divest) a senior-living facility. Often, there are private companies or larger nonprofits eager to […]

Senior Housing Industry Faces Serious Challenges says HUD Secretary

Within the next 20 years, more than 70 million Americans will have reached retirement age, posing significant challenges for the senior housing industry and one the Department of Housing and Urban Development is looking to address. Speaking before the LeadingAge Annual Conference in Washington, DC, Shaun Donavan, Secretary for HUD said the growing need for senior […]

General Capital Group Gets TIF to Build 90 Unit Senior Housing Complex

Construction is set to begin on the Berkshire-Greendale, a 90 unit senior housing complex that will be developed by General Capital Group. “Our Village leaders have been exploring and developing various options for energizing and revitalizing the 76th Street commercial area and we have been encouraged by the feedback within our community,” said Village of […]

HANAC and Community Partners Celebrate Opening of Mixed-Use, Affordable Senior Housing in NY

The George T. Douris Tower, a new green, mixed-use building providing affordable housing for seniors and community space recenlty celebrated its opening.  Local politicians and business partners joined HANAC, Inc., a nonprofit, multi-funded, citywide organization that serves local community residents in the grand opening ceremonies.  The 183 unit apartment complex was developed on a 43,000 […]

Local Agencies Celebrate Grand Opening of Affordable Senior Housing in New Jersey

Representatives of the New Jersey Housing and Mortgage Finance Agency (HMFA) and other community leaders recently celebrated the completion of Conifer Village, an affordable senior housing community in Cape May County.  Conifer Village is a new, three-story building that features 63 one-bedroom units and 27 two-bedroom units as well as a community room, exercise room, […]

Senior Living Community Celebrates Groundbreaking in Columbus, Ohio

Huntington Bank (Nasdaq: HBAN) joined with the Ohio Capital Corporation for Housing last month to celebrate the recent groundbreaking of a $12 million, new senior community in Central Ohio. Columbus Housing Partnership is developing the new 98-unit independent senior living community in Southeastern Columbus known as Elim Manor.  The 98-unit complex, which will offer support […]