Classic Residence by Hyatt 'tops out' new seniors tower Chicago-based Classic Residence by Hyatt recently celebrated the topping out of its 17-story senior-living tower being constructed in Yonkers, N.Y. Construction of the 312-unit facility, which is scheduled to open in spring 2000, began in November 1998.
When completed, the building will have 201 apartments for independent seniors, 75 assisted-living units and 36 apartments for those with early Alzheimer's disease or similar impairments. Amenities will include a full activity program, scheduled transportation, a fitness room and convenient access to Manhattan.
Tri-National gets $10.5 million for Youngtown community San Diego-based Tri-National Development Corp. and its majority owned subsidiary, Alpine Gardens East Inc., have secured $10.5 million in construction financing from Las Vegas-based Delmar Mortgage Co. to complete Youngtown Gardens, a 126-unit, 6-acre assisted-living facility in Youngtown, Ariz. Two of the condominiums are complete; the remaining 124 units are slated for completion in March 2000.
Alpine Gardens East Inc. will operate and manage the facility, which is expected to be built-out for less than $17 million. The development will feature 36 condominiums for Alzheimer's and dementia patients.
NAHB to debut seniors-housing show in Philadelphia The National Association of Home Builders (NAHB) and its National Council on Seniors Housing (NCOSH) will hold the new Seniors Housing Show November 5-7 at the Pennsylvania Convention Center in Philadelphia. The show, which will focus on the independent-living sector of the seniors-housing market, will offer more than 30 seminars conducted by industry experts on such topics as development and construction partnerships, zoning, financing and selling to seniors.
The Remodelers and the Custom Builders shows will also be held at the center on the same dates, providing for valuable networking opportunities.
Funding in 'place' for Pa. affordable-housing project The Pennsylvania Housing Finance Agency (PHFA) approved an $822,000 funding package for the construction of Franklin Place, a 24-unit affordable senior housing complex in Bloomsburg, Penn. All of the apartments contain will one bedroom; three of the units will be for persons with disabilities. Susquehanna Valley Development Group Inc. of Turbotville, Pa., is the project developer, while Turbotville, Pa.-based Warrior Run Development Corp. will serve as the management agent.
The funding from PHFA consists of a $666,873 deferred loan and $155,386 in housing tax credits. The total cost of Franklin Place is expected to be $1,662,102. The complex is for senior residents who earn 60% or less of the area's median income.
San Diego seniors will soon be living 'la vida real' San Diego-based Senior Resource Group LLC will begin construction in first-quarter 2000 of La Vida Real, a 343-unit, $45 million senior living complex in San Diego. The 11-acre community, which will be designed to match the Spanish-village style of the surrounding area, is slated for completion in early-2001.
La Vida Real will consist of seven residential wings connected to a central pavilion building and will have 205 independent-living apartments, 114 assisted-living units and 24 apartments for Alzheimer's and other dementia patients. The development will feature a library, garden, activity areas, a pedestrian walkway to provide easy access to nearby shopping and four guest suites for residents' family and friends.
Regent opens assisted-living community in Atlanta Last month Atlanta-based Regent Partners opened Winthrop at Cobb, a 60-unit assisted living facility in a north Atlanta suburb. The two-story, 41,000 sq. ft. building, located in Austell, Ga., is the first senior-living facility in Regent's real estate portfolio. The community is a joint venture between Regent and Charles Williams REIC, a senior care development firm based in Rome, Ga.
Winthrop at Cobb offers several levels of resident assistance, ranging from basic care to comprehensive care provided in the dementia unit for Alzheimer patients. Standard services include meals, housekeeping and medication monitoring. The community also provides daily activities such as its Eden Care program, which gives residents the chance to interact with children and pets and participate in gardening.
Each apartment features individually controlled hearing and air conditioning, a microwave, a refrigerator, cable and telephone connections, and an emergency call system. The facility also has a private dining room and an ice-cream parlor.