Toll Brothers Develops in Texas

Toll Brothers Develops in Texas

Toll Brothers announced the grand opening of its latest 55+ housing community, Regency at Esperanza in San Antonio, Texas. The company has so far developed over 66 55+ communities across 14 states and is showing no sign of slowing down its growth in the active adult-adjacent space. Regency at Esperanza is a luxury community for seniors within Esperanza, a 1,700-acre master-planned community. Regency at Esperanza consists of three groups of one- and two-story single-family homes priced from the mid-$400,000s, and marks the first 55+ community in Boerne, Texas. The community will be equipped with resort-like amenities including a state-of-the-art amenity center, a swimming pool, fitness... Read More »
Urban Developments Keep Rising in Seniors Housing

Urban Developments Keep Rising in Seniors Housing

Minnesota-based developer Ryan Companies in collaboration with Harrison Street and Cadence Living have announced its latest seniors housing community in Arizona, Acoya Shea of Scottsdale. Construction has begun on the $64 million community which will comprise 147 units of independent and assisted living. At a cost of $435,000 per unit, the latest community by the development trio will encompass 197,000 square feet on 2.5 acres just miles from Phoenix. The project received a construction loan from Regions Bank. The buyers of the land were represented by Keith Mishkin of Cambridge Properties and Jim Riggs of Platinum Advisors. Daniel Raimer, the vice president of real estate development for... Read More »
Kauhale Health Set to Grow in the Midwest

Kauhale Health Set to Grow in the Midwest

Brand-new operator Kauhale Health announced it has formed a strategic alliance with seniors housing industry veteran Torey Riso. The former CEO of Blueprint Healthcare Real Estate Advisors and publicly traded Care Investment Trust will assist Kauhale in expanding its Midwest portfolio, which currently sits at one owned and one managed property, both in Michigan. According to Levin Pro LTC, Kauhale Health made their first seniors housing acquisition in August with the purchase of Vicinia Gardens of Otsego, a 52-unit assisted living community in Michigan. Previously, Kauhale was appointed manager of the CCRC Vista Grande Villa in Jackson, Michigan in March 2022. By partnership with Mr. Riso,... Read More »
Erickson Senior Living Opens Phase I of $500 Million Development

Erickson Senior Living Opens Phase I of $500 Million Development

A new independent living community, Avery Point by Erickson Senior Living, is set to open after two years of construction. Erickson Senior Living developed the community and will operate it going forward. Eventually, the IL portion will be part of a massive 1,400-unit CCRC on 94 acres in Goochland, Virginia (Richmond MSA). Construction started in 2019 with Phase I consisting of 216 independent living apartments in one- and two-bedroom configurations. Erickson announced that Phase I is already filled to capacity and they are expecting the Phase II developments to be sold out as well. Moseley Architects is the architect for the $500-million-dollar development project, which should come out... Read More »
Del Webb Develops in Texas

Del Webb Develops in Texas

Del Webb is set to open its newest 55+ community, Del Webb Fulshear, just west of Houston, Texas. Comprising 725 single family ranch-style homes across more than 230 acres, Del Webb Fulshear features three unique home series from Del Webb’s consumer-inspired GenYou collection: The Scenic, Distinctive and Echelon. The resort-style community will offer over three miles of walking trails in addition to an indoor and outdoor pool with prices starting in the high $200,000s. Del Webb has been busy developing its own brand of large 55+ communities, which fall out of the generally accepted definition for active adult communities (as AA communities are usually rental options). However, active adult... Read More »

Active Adult Developments Stay Active Across America

Active adult new construction activity continued apace this past week with multiple developers breaking ground on communities throughout the country. We are sure rising interest rates have stopped a number of projects, but many developers surely see plenty of opportunity in the emerging sector. As covered in our active adult webinar in June, one question that arose was whether it’s better to build or buy active adult communities right now. Back then, the answer was a resounding “Both.” However, in light of the high capital costs these days, purchasing a community at a 4% cap rate when the 10-Year Treasury Yield is approaching 4% may not make as much sense right now. In Northampton,... Read More »