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 »
Capitol Seniors Housing Adds to Active Adult Portfolio
Capitol Seniors Housing (CSH) is continuing its expansion into the active adult market with the groundbreaking of a new community in Noblesville, Indiana, in the Indianapolis MSA. The Outlook at Hamilton Town Center will feature 164 units geared toward the middle market across 145,000 square feet. The Outlook will offer one- and two-bedroom units, along with amenities such as an outdoor swimming pool and lounge, a clubhouse with coffee bar and game room, a library, a theatre and fitness studio. It will be located adjacent to Hamilton Town Center, which features shopping, dining and entertainment services. Element Architects designed the project with Core Construction serving as general... Read More »
Affordable Projects Spring Up Across the Country
Several developments and financings have been announced recently in the affordable seniors housing market, following a common theme that this sector is fast gaining investor attention. AHEPA Affordable Housing Management Company, Inc. is receiving an $8.86 million HUD loan to facilitate the development of 100 new affordable housing units in Des Moines, Iowa. That funding is part of the portion of the Build Back Better Act that is projected to bring more than $1 billion in affordable housing investments to Iowa. Across the country, MassHousing provided a $23.5 million loan for the expansion of Golda Meir House in the Boston suburb of Newton. Built between 1978 and 1995 and renovated in... Read More »Schedule a demo
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