Caddis Partners: “Full speed ahead” on Heartis-branded communities
This month, Caddis Partners began construction on its fifth and sixth Heartis-branded communities in Texas. Heartis Cypress and Heartis Clear Lake—both located in the Houston area and both 78-unit communities (54 assisted living units and 24 memory care beds)—are expected to open in early 2015. Caddis, a Dallas-based real estate development, management, and investment firm operating strictly within the health-care sector, announced in June 2013 that it would invest $100 million in the senior living segment over 24 months. At that time, too, construction had just begun on Heartis Cleburne, a 96-unit assisted living and memory care community south of Fort Worth and the company’s first... Read More »Village Pointe Commons moving forward in Wisconsin
Tarantino & Co., the Waukesha, Wisconsin, real estate developer, plans to build a $20 million senior housing community in a commercial district on the south side of Grafton, Wisconsin. The 200-unit project, to be called Village Pointe Commons, will have levels of care, services, and amenities common to the senior communities that the developer already operates under its Capri Senior Communities banner. An aging mall that once occupied the development site was razed in 2008 to be replaced by an extensive mixed-use project—a 17-building complex on 22 acres that included a new retail center and townhouse- and apartment-style condominiums. The retail center was finished before the full... Read More »Creating “silk purses” from “sow’s ears” in Indianapolis
Joe Whitsett, an Indianapolis native and prominent tax-credit real estate lawyer before founding TWG Development, LLC, has an affinity for historic buildings. Since 2007, TWG (originally The Whitsett Group) has been turning rundown buildings in and around the city from eyesores into attractive affordable housing for seniors and for families. The most recent example is a $9.6 million conversion of a four-story structure at 1352 N. Illinois Street—built in 1929 and formerly occupied by a commercial laundry—into 63 affordable seniors housing units. The project was awarded $836,756 in federal low-income housing tax credits (LIHTCs), as well as $450,000 in additional state funding. LIHTCs,... Read More »Trilogy continues its amazing growth
Trilogy Health Services just celebrated the opening of Hearthstone Health Campus in Bloomington, Indiana, and announced the grand opening of Arlington Place Health Campus in Indianapolis. The two new developments represent Trilogy’s 79th and 80th senior living communities, the provider’s 49th and 50th sites in Indiana, and the seventh and eighth major new campus development or expansion projects undertaken by the company in the past year. A $10 million building, Hearthstone Health Campus has 104 units—26 assisted living and 78 skilled nursing—in a “town square” residential setting, which is the model Trilogy has used in its other recent senior living developments. Private and companion... Read More »Presbyterian Communities & Services: 2 projects underway
Presbyterian Communities & Services (PC&S), a not-for-profit senior living organization based in Irving, Texas, has two large development projects underway in Dallas: 1) a five-stage makeover of Presbyterian Village North, and 2) a state-of-the-art inpatient hospice center. Pi Architects of Austin prepared a five-stage master plan for renovating and expanding Presbyterian Village North, a 550-resident community on 67 acres. Phase 1 of the makeover, priced at $87 million, includes general renovations but also adds new independent living, assisted living, memory care, and rehabilitation facilities, along with new fitness and aquatics centers. The project began last May, with... Read More »LBGT low-income senior housing—a Philly first
Wrapped in an enormous rainbow-colored ribbon, John C. Anderson Apartments, a low-income housing project specifically targeted to LGBT seniors, officially opened in Philadelphia on February 24. The first LGBT-friendly senior apartment community in Pennsylvania—and the largest of only three (so far) in the entire United States—was the brainchild of Mark Segal, a long-time gay-rights advocate and president of The Dr. Magnus Hirschfeld Fund (dmhFund), which supports programs that address LGBT concerns. To develop the project, dmhFund partnered with Pennrose Properties, which specializes in affordable housing development primarily in the Mid-Atlantic region. John C. Anderson, for whom the... Read More »Mainstreet Property Group’s “medical resort” concept
Why shouldn’t a nursing home look and feel like a pleasant—and desirable—boutique hotel? That’s the premise of Mainstreet Property Group’s innovative Next Generation™ design for skilled nursing facilities and a style that seems to be making headway in Indiana, currently one of the most active states in terms of senior living development. Mainstreet is a Hoosier company, based in Carmel, and one of the country’s largest developers of seniors housing and care properties. Its innovative and aesthetically appealing Health Care Resorts™ approach to long-term care focuses on private rooms, concierge-style services, restaurant-style dining with on-site chefs, landscaped outdoor areas, and... Read More »The Wellmore of Tega Cay—focused on wellness
Wellmore of Tega Cay, a $35 million project now under construction in Tega Cay, South Carolina (a suburb of Charlotte, North Carolina), and the flagship community for CNL Healthcare Properties’ new Wellmore brand, will open in summer 2015. The nearly 150,000-square-foot campus will offer 152 residential units (assisted living, memory care, and skilled nursing) in six buildings and a 25,000 square foot clubhouse and wellness center—a feature of the Wellmore brand. Maxwell Group, Inc., a Charlotte-based management company, will operate Wellmore of Tega Cay upon completion. As the brand name implies, Wellmore communities focus on nationally recognized wellness initiatives aimed at extending... Read More »Milwaukee’s “green” achievements
Milwaukee is setting a “green” standard for affordable senior housing development, as exemplified by Westlawn Gardens, a 345-unit public housing project, and Olga Village, a 37-unit apartment building for low-income seniors on the city’s south side. Westlawn Gardens, part of a neighborhood revitalization project, achieved LEED-ND (Neighborhood Development) Stage 3 Silver Certification, the highest rating for neighborhoods under current LEED standards. It is the world’s first development to achieve that rating, which recognizes smart growth and green building practices in an urban environment. The neighborhood includes a 30,000 square-foot community garden, a sustainable food production... Read More »Spotlight on Co-ops
A senior housing co-op recently broke ground in Oakland, California, the first of its kind in the Bay Area. Elder Village Development, a part of Alameda Elder Communities, is the developer of the $21 million project, which is being built on the site of a local restaurant that burned down in 2010. The 41-unit retirement community, appropriately named Phoenix Commons, is part of a larger objective by city officials to revitalize Oakland’s waterfront. Elder Village believes that Phoenix Commons’ design and co-op model will allow seniors to more easily interact but still maintain the privacy of living in their own home. Each one- or two-room unit, ranging from 630 to 1,100 square feet, comes... Read More »Schedule a demo
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