CREJ - Healthcare Properties - July 2017
March, April, May 2017 Construction Starts Legend Senior Living is an independent living, assisted living and memory care property in Broomfield that began construction in February. The property will include 20 units of independent living, 67 units of assisted living and 20 units of memory care. The property will be owned by Legend Senior Properties LLC. StoneGate Skilled Nursing is a 50-unit skilled nursing facility in Longmont that began construction in March. The general contractor is SCI Construction and the architect is Stephen Jordan. The property will be owned by SG Development LLC. Columbine Health System’s campus in Fort Collins is a community that includes independent living, assisted living, skilled nursing and additional health services. Construction of Columbine Patio Homes, a 34-unit rental patio home expansion to its existing campus, began in March. The general contractor is Beacon Construction and the architect is r4 Architects. The patio homes will be owned and managed by Columbine Health Systems and build-out is expected to be completed by May. Oakridge Crossing is a 110-unit income-restricted, age-qualified apartment property in Fort Collins that began construction in April. The developer, McDermott Properties LLC, received disaster recovery funds, 4 percent low-income housing tax credits and state housing tax credits to develop the property. The general contractor is Brinkman Partners and the architect is Lewis Himes Architects. The property will be managed by ComCap Asset Management Inc. Construction of Eben Ezer Lutheran Care Center’s new 54-unit assisted living and 20-unit memory care building in Brush began in April. The new building will take the place of the existing 54-unit assisted living building once construction is completed in February. The architect is OZ Architecture and the general contractor is Fransen Pittman General Contractors. Windsong at Northridge is a 52-unit, standalone memory care community that began construction in April. The architect is Lenity Architecture and the general contractor is Brinkman Partners. The property will be co-owned by Drever Capital Management and Vista Pointe Development Co. Vista Pointe Development Co. will manage the property. It is expected to open in late spring. Openings Accel at Golden Ridge is a new 120-unit skilled-nursing transitional rehab and care facility in Golden. A ribbon-cutting ceremony was held March 9. The property is owned by SG Development LLC. The Suites at Fitzsimons in Aurora is a 100-bed sub-acute/rehab facility that opened in March. The general contractor was Brinkmann Constructors and the architect was OZ Architecture. The owner is Mainstreet Capital and the operator is Eduro Healthcare. Village at Belmar is a new community in Lakewood that opened in March. Village at Belmar offers 60 independent living units in quadplexes, 72 assisted living units and 24 units of memory care. Development of the property was a joint venture between Blue Moon Capital Partners, providing the institutional equity; GH Phipps, the general contractor and co-developer; and Ascent Living Communities, co-developer and operator of the community. The architect was Rosemann and Associates. The Highlands is a new 64-unit, age-qualified, income-restricted apartment property in Grand Junction that opened in May. The architect was OZ Architecture and the general contractor was Shaw Construction. The property is owned and managed by the Grand Junction Housing Authority. Sales In March, HCP Inc. sold two of its Brookdale properties to The Blackstone Group, a New York-based company. Brookdale Denver and Brookdale Highline, both located in Denver, were sold to The Blackstone Group at a price of $23 million and $4.5 million, respectively. These listings of construction starts, openings and property sales are as reported by Boulder-based The Highland Group. For questions, contact info@thehighlandgroupinc.com or 720-565-0966.