Two new senior facilities for Twin Falls, Idaho
Two developers—Grace Assisted Living and Peter Candy—have committed $8 million and $10 million, respectively, to build new senior facilities in Twin Falls, Idaho. Twin Falls, about 100 miles southeast of Boise, is the state’s seventh-largest city (pop. 45,000) and the fastest-growing city in south-central Idaho. The combination of an aging population—about 20% of local workers are 55 or older—and a shortage of retirement facility options made Twin Falls attractive to the two developers. Grace Assisted Living, based in Boise, is investing $8 million in a 78,000 square-foot, 85-unit assisted living facility that is expected to open in spring 2015. Grace Assisted Living currently operates 16... Read More »Bright Oaks Group investing big in Chicagoland and Florida
Bright Oaks Group plans to develop 20 assisted living communities in suburban Chicago and elsewhere in the Upper Midwest, along with 20 communities in Florida and elsewhere in the Southeast. Four new developments already under construction in Illinois and an additional five in Florida represent about $200 million of the $500 million that Bright Oaks plans to invest in new assisted living projects over the next several years. The company’s first project, Bright Oaks of Aurora (IL), will offer 36 assisted living and 24 memory-care units when it opens in winter 2015. Bright Oaks, a privately held development company founded in 2013, is collaborating with Ecumen and Autumn Senior Living on... Read More »Maplewood Senior Living launches new Connecticut project
A 27-acre plot in Southport, Connecticut, will be the site of Maplewood Senior Living’s next assisted living and memory-care community. Maplewood at Southport will be a traditional assisted living/memory-care residence and luxurious in every sense. The design of the 92,000-square-foot, 98-unit community will evoke the tradition of rambling Adirondack and coastal New England resorts of the early 20th century, iconic themes that should blend well in the upscale Mill Hill neighborhood in which the land is situated. The focal point of the Southport property, which is also adjacent to Mill Hill Elementary School, is nature—old-growth trees, flowering plants, and native wildlife such as deer and... Read More »Rental CCRC coming to Raleigh, North Carolina
Site work is underway on what will be Raleigh’s first licensed, rental CCRC. The Cardinal at North Hills will be breaking ground soon. Once complete, the new community will offer month-to-month rental units—unlike most CCRCs, which require an entrance-fee contract. The Cardinal will have 165 independent living residences, plus 60 on-site private apartments licensed for assisted living, memory care, and nursing care. Residents will have direct access from their buildings to a secure, underground parking garage and to the 35,000 square foot clubhouse, which will have appropriate spaces for social, spiritual, and vocational activities, as well as multiple dining venues: the main dining room... Read More »Three New MorningStar projects underway in Arizona, Colorado
Denver-based MorningStar Senior Living has broken ground on three new assisted living/memory care communities: one in Arizona and two in Colorado. 1. MorningStar at Arrowhead is an $18 million project on six acres in Glendale, Arizona. The new community will have 60 assisted living suites and 25 units devoted to memory care. The project is a joint venture between affiliates of MorningStar Senior Living and Real Capital Solutions, a Louisville, Colorado-based investment firm. OZ Architecture of Denver designed the project. 2. MorningStar of Fort Collins, also an $18 million project, will offer 55 suites for assisted living and 23 memory-care units. The project, designed by architectural... Read More »ISL to manage new community in Greater San Antonio
Construction has begun on The Heights at Shavano Park, a new senior care in Shavano Park, Texas, a suburb of San Antonio. When completed, the new Mediterranean-style community will have 84 units: 40 assisted living and 44 memory care. Residents will enjoy a dining room with a private dining area, a gym with equipment specifically designed for seniors, a spa and beauty salon, a theater, and a chapel. The grounds will feature an outdoor dining and barbecue area, individual gardening plots, and—given the physical and social benefits of living with a dog or cat—a dedicated pet area! Dallas-based investment-banking firm Meridian Capital LLC, a partner of Global M&A Partners, will own The... Read More »Holland Home rehab center in Grand Rapids to expand
Holland Home plans to expand its Breton Rehabilitation and Living Centre, with groundbreaking expected in late August. The $6.5 million, privately funded expansion of the rehab center—located on Holland Home’s Breton Woods campus in Grand Rapids, Michigan—will include a new 4,560 square-foot rehabilitation center, renovation and redecoration of the existing facility, and the addition of a 13,400 square-foot, 15-bed assisted living/memory care space. The rehabilitation services expansion will quadruple the size and capacity of the existing Breton Woods campus and the capabilities of the center’s current rehab program; it will include a state-of-the-art therapy gym, physical therapy,... Read More »Anthem Memory Care to develop multiple locations in suburban Chicago
Anthem Memory Care of Lake Oswego, Oregon, has received approval to develop a new memory-care community in the Village of Burr Ridge, Illinois—the first of several communities the company plans to bring to the suburbs of Chicago. Anthem is also under contract for two additional purchase and sale agreements in Chicagoland—one in Tinley Park and another in Glenview—and is pursuing as many as seven other locations in the area. The 40,000 square-foot Burr Ridge community, with an estimated development cost of $12 million and as yet unnamed, will accommodate up to 76 residents dealing with various levels of Alzheimer’s, dementia, and other forms of memory loss. Upon opening, the new facility is... Read More »Thrive Senior Living breaks ground in Gainesville, Virginia
At a ceremony on June 26, Thrive Senior Living broke ground on The Tribute at Heritage Village, a 128-unit assisted living and memory-care community in Gainesville, Virginia. Located at the front entrance of Heritage Hunt, a 55+ active adult community, The Tribute at Heritage Village will feature two restaurant dining venues, a movie theater, spa, fitness center with state-of-the-art digital equipment specifically designed for seniors, and salon, as well as a doctor’s office and a telemedicine suite. A completely separate memory-care “neighborhood” will offer a secure environment for residents with Alzheimer’s and other forms of dementia; innovative programming will foster cognitive... Read More »In San Jose, a new perspective on assisted living
An environment where residents don’t have to compromise their interests, hobbies, and beloved California lifestyle is the plan for a new assisted living project coming to San Jose, California. Plans for a “dynamic and relevant” assisted living facility in the heart of tech-savvy, innovation-loving Silicon Valley were created by BCA Architects, a design firm headquartered in San Jose, and recently received unanimous approval from the San Jose City Council and Planning Commission. Construction on the $25 million facility, as yet unnamed, will begin this fall with completion scheduled for fall 2015. So what does BCA have in mind for the new facility? “Baby boomers are, by nature, continual... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
