Welltower & Kisco Senior Living Break Ground in Maryland
Welltower and Kisco Senior Living announced the groundbreaking of their large senior living community in Gaithersburg, Maryland. Set to open in Spring 2024, The Carnegie at Washingtonian Center will feature 450,000 square feet and 302 total units of independent living, assisted living and memory care. It will sit on 8.5 acres next to RIO Lakefront at Washingtonian Center, a waterfront shopping center with restaurants, amenities and water activities in downtown Gaithersburg. At the community, floorplan options will range in size from one bedroom, one bath (837 square feet) to two bedrooms, two baths with a den (1,487 square feet) and a club level living option that includes concierge and... Read More »
Toll Brothers Proposes Active Adult Development in New York
Homebuilder giant Toll Brothers has proposed the development of a 136-unit active adult community in Yorktown, New York. The development would be built on two properties sitting on approximately 50 acres. It would contain three- and four-unit buildings, a community clubhouse and a pool. The townhouses would include a master bedroom suite, an entertaining space and two-car garages. The community would have a homeowners association and would be sold at market rate. Toll Brothers is currently focusing on speaking with the Yorktown Town Board before committing to the project, as the community would sit on the former property of Field Home Holy Comforter, an assisted living... Read More »
Walker & Dunlop Advise Joint Venture on Construction Financing
Walker & Dunlop has advised an equity partnership on a $300 million construction financing arranged by Huntington National Bank for a luxury life plan community in Tysons, Virginia. Tysons LPC, LLC is a 50/50 partnership between Mather Investments and Westminster Capital. It will own the to-be-built CCRC entitled The Mather — a two-building project consisting of 300 independent living apartments, 60 assisted living apartments, 20 memory care suites and 42 skilled nursing suites. The community will be completed in two phases, with the first phase expected to open in early 2024. The Mather has been designed for transit accessibility, a walking lifestyle and environmental... Read More »
New Development Finds Capital Partners
An assisted living/memory care development in Tracy, California is going ahead thanks to a partnership arranged by Jacob Gehl, Scott Frazier and Humair Sabir of Blueprint Healthcare Real Estate Advisors. Summit Senior Life, a Newport Beach, California-based developer, and Cadence Living, a Scottsdale, Arizona-based operator, were planning this project on a 2.8-acre site to include 77 assisted living and 24 memory care units. The site is adjacent to Lennar at Tracy Hills, a large masterplan community that includes 5,000 single-family homes and 58 acres of commercial spaces, hotels, schools and offices. However, Summit and Cadence needed to be introduced to capital... Read More »