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Page 20 — Health Care Properties Quarterly — April 2017
Senior Housing & Care
Senior housing and care construction starts,
openings and sales
December 2016, January, February 2017
Construction Starts
Construction started in December onWindsong
at Rock Creek, a new, 64-unit memory care property
in Fort Collins. The general contractor is Brinkman
Partners and the architect is Lenity Architecture.
The property is owned by Drever Capital Manage-
ment and Vista Pointe Development Co. It will be
managed by Vista Pointe Development Co.
Trinity Lutheran Church’s new 16-unit age-
restricted apartment property, Trinity Commons,
began construction in November. The property,
located in Boulder, will be restricted to those who
do not exceed 60 percent of median household
income in Boulder County. The age-restricted apart-
ments will be incorporated into a larger structure
that includes 77 parking spaces and an additional
5,000 square feet of church space. The architect is
Hartronft Associates PC and the general contractor
is Fischer Construction Inc. The property is expect-
ed to open in mid-2018.
Bonaventure Senior Living, of Salem, Oregon,
began construction of its new community in Thorn-
ton in January. The community will include 71 inde-
pendent living units, 62 assisted living units and 25
memory care assisted living units.
Openings
Brighton Village II is a new 63-unit, income-
restricted, age-qualified apartment property, adja-
cent to Brighton Village I in Brighton. The property
opened in December and is funded with 9 percent
low-income housing tax credits. The architect was
Miles Lambert and the general contractor was Shaw
Construction. The property is owned by HC Brighton
Senior II LP, in partnership with Hendricks Com-
munities, and is managed by the Brighton Housing
Authority.
Water Valley Senior Living, a Good Samaritan Soci-
ety community, is an existing 116-unit independent
living community inWindsor that recently added
adjacent townhomes. A ribbon cutting ceremony for
the 40-unit Resort Villa Townhomes was held Jan.
25. The architect was Bas1s Architecture and the
general contractor was Dohn Construction Inc.
MorningStar at RidgeGate is a high-quality con-
tinuing care retirement community that opened
in January. The community, located in Lone Tree,
includes 124 units of independent living, 71 units
of assisted living and 29 units of memory care.
The architect was Lantz-Boggio Architects and the
general contractor was Haselden Construction. The
property is owned and managed by MorningStar
Senior Living.
Mainstreet-Fort Collins is a new 70-unit skilled-nurs-
ing and 23-unit assisted living facility that opened in
January.The general contractor was Meyer Najem and
the architect was American Structurepoint Inc.The
property is owned by Mainstreet Capital Partners LLC
and is managed by Eduro Healthcare.
Peregrine Landing at Aurora is a newmemory care,
assisted living community that opened in January.
Peregrine Landing is owned by First Phoenix-Aurora
LLC and managed by Peregrine Senior Living, head-
quartered in Syracuse, NewYork.VisCap Development
LLC is the developer, the architect is Mudrovich Archi-
tects and the general contractor is Copeland Building
Corp.
Rocky Mountain Assisted LivingWheat Ridge, a new
32-bed assisted living and memory care community,
held a grand opening ceremony Feb. 16. The general
contractor was Springfield Construction LLC and the
architect was MA Architects. The property is owned
and managed by Rocky Mountain Assisted Living.
Sales
The former Generations at Lowry assisted living
building, on a nearly 10-acre parcel at 8505 E. Lowry
Blvd., recently was purchased for $16.5 million by
Alliance Residential. Generations at Lowry had
closed as an assisted living community in summer
2016. Alliance Residential, based in Phoenix, will
reportedly demolish the existing building to make
way for a new multifamily apartment building.
These listings of construction starts, openings and prop-
erty sales are as reported by Boulder-based The Highland
Group. For questions, contac
com or 720-565-0966.
senior care commu-
nity clients. Some-
times higher-end
facilities have more
room to maneuver
with their pro for-
mas, but it is very
consistent across the
board that we need
to be more involved
early in the design
process to ensure
the budget aligns
with our client’s
requirements.
The development
community still has
an opportunity to improve the
process of general contractor
selection, which will make
the biggest impact
on their final project
cost and delivery. The
selection should be
based on the strength
of the team. Who will
bring you the best
solutions and value
engineering ideas and,
ultimately, who will do
the best job managing
the design, the budget
process and deliver
the building your cli-
ent wants? Our firm
wants to be involved
early, working closely
with the client’s
architectural and
engineering teams to evaluate
site costs and building design
options from Day One.
There are a lot of dollars
to be saved as the developer,
architect and general con-
tractor together look at site
layout options, infrastructure
design, building structural
design, MEP systems, finish-
es, etc. In this way, the senior
housing being developed has
the most cost-effective design
when the general contractor
goes out for bids from the
trades. Controlled budget
review at each stage of the
design process eliminates the
potential for a cost surprise
at the end. It is never good
for a new assisted living or
independent living building
to consider changes to key
components of their building
finishes to make a budget.s
Our clients are using multiple approaches
to balance their pro formas to accommodate
rising construction costs. Some are rais-
ing planned rents to make up the difference.
Others have scaled back their common area
spaces. Some have increased their unit counts.
All of these approaches have associated risks,
but also can allow projects to move forward to
completion. Those who work most closely with
their general contractors from the beginning
seem to be able to manage costs most effective-
ly. Thanks to our contributors here for sharing
their insights on this topic.
MODERATOR COMMENTS
Elisabeth
Borden
Moderator,
The Highland
Group
Tom Kooiman
Director of business
development –
Western Region,
Brinkmann
Constructors
Question