We have tracked multiple seniors housing projects announcing their groundbreakings across the country this past week. In East Chicago, funding for a $51 million affordable seniors housing development has been secured by several investors. Lakeshore Manor will comprise 206 units across two separate four-story buildings. DTM Real Estate will develop the new affordable seniors housing project, which will replace the 1972-built John B. Nicosia Senior Housing high-rise that stood nine stories tall for the past 50 years.
In a separate development, we have learned that the 2,200-acre, 3,500-home development along Lake Travis, just outside of Austin, Texas will include seniors housing units. The whole community will be named Thomas Ranch and is being developed by Areté Collective.
In Virginia Beach, Virginia, Beth Sholom Village and Pembroke Square announced the groundbreaking of their new senior living community. Aviva Pembroke will comprise 121 independent living units, 20 assisted living units and 12 memory care units. Floor plans of the community will include a one-bedroom/one-bath, one-bedroom/one-bath with a den, two-bedroom/two-bath and then a three-bedroom/two-bath.
