Fresno, California sees a boom in assisted living development
It’s unusual to see a metro area with a population of nearly a million increase its number of assisted living units by over 30%, in a year. Nevertheless, Fresno, California is looking to add 364 new assisted living units to the city’s existing 579 units, or a 63% increase, (according to NIC MAP) by 2015. A report from Central California Institute for Healthy Aging expects the senior population aged 65 and up to grow considerably in the next five to 10 years, as seniors wishing to retire in California may see Fresno as a less expensive option compared with the rest of the state. Governor Brown recently complicated matters as well, by cutting funding to taxpayer-backed redevelopment... Read More »Senior Housing Boom in Rochester, Minnesota
The Affordable Care Act called for, in addition to many new reforms, increased continuum of care from America’s health care providers. Health systems have taken to this call to action, increasingly affiliating with other health systems or health care businesses to add a wide variety of services to their portfolios. Concerning long-term care, Rochester, Minnesota may prove to be the best example of this new type of integrated senior/medical care in the country. Fueled in large part by a 20-year, $5 billion expansion plan to Mayo Clinic, three senior housing projects are scheduled for construction or have already broken ground in the county. The Bluffs of Lake City, a $13.4 million project... Read More »Allen, TX senior care community set to break ground later this month
Christian Care Centers (CCC) of Mesquite, Texas, is set to break ground on its third senior living community in the Dallas-Fort Worth area later this month. Located in the town of Allen, the 72,000 square-foot, two-story facility will offer 32 assisted living units and 36 memory care units, as well as 22 independent living cottages separate from the main building. Once construction is complete, scheduled for August 2015, CCC will operate the facility. The community was designed by REES Architects, which has an office in Dallas, and is to be built by Adolfson & Peterson, a U.S.-based firm consistently ranking in the top 50 construction managers and general contractors in the country.... Read More »Expanding in Houston
Not to be left behind by the ever expanding senior housing market in the Houston metro area, three existing retirement communities are planning significant additions which would expand both their size and continuum of care through a variety of services. The Buckingham, a 323-unit senior living community consisting of 204 independent living apartments, 43 assisted living units, 16 memory care suites and 60 private skilled nursing rooms, was built in 2005, but after reaching full capacity, they sought to fill a growing need for senior care in the area. The $56 million expansion, which will cost about $300,000 per unit, will add an additional 104 IL apartments, 33 AL suites, 18 memory care... Read More »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 »Schedule a demo
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