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 […]
Category: Tax Credits
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 […]
Former Massachusetts Ski Area Slated for Senior Housing Development Maryland-based firm The Shelter Group is planning a 133-unit senior living community at the base of an old North Andover ski area that hasn’t seen much use for more than 20 years, reports Boston.com. Located at the old Boston Hill Ski Area at 1275 Turnpike St., […]
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 […]
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 […]
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 […]
As part of the American Recovery and Reinvestment Act (ARRA), the Idaho Housing and Finance Association (IHFA) has awarded $1.29 million in tax credit assistance funding to Silver Hills Apartments in Wallace, Id. The funds will be used to rehab 24 units of the senior housing complex and will include a replacement of all flooring, cabinets, […]
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 […]
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, […]
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 […]
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