The multimillion-dollar building project, funded by the U.S. Department of Housing and Urban Development’s largest assisted living conversion project, is the largest HUD grant in U.S. history.
The expanded Brookdale Senior Living Inc. now operates in 46 states via 1,100 communities covering the full spectrum of senior living options.
The Pennsylvania Housing Finance Agency awarded a $6.15 million tax credit for this project.
The new multistory assisted living and memory care facility in St. Augustine, Fla., will include 120 units with the capacity to serve 138 residents.
The assisted living and memory care facility will include 58 studio, one-bedroom, and two-bedroom assisted living apartments as well as 24 private and semi-private memory care suites.
The $13 million, 73,000-square-foot facility will result in 120 beds – all of which are private rooms.
The Landing, one of the first affordable housing developments exclusively for low-income senior residents in Chaska, Minn., has opened.
The eight properties collectively have 798 units and 72 skilled nursing beds and are worth approximately $187.2 million with potential adjustments related to property net operating income.
As residents demand more engaged living options, communities must adapt with new amenities and design features. One developer shares his thoughts on today’s evolving market.
The Plenary Group is expected to begin construction of the facility in Canada late this summer or early fall, with an anticipated completion date of spring 2016.
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