Colorado Real Estate Journal - December 7, 2016
Construction Starts Madrona Point Development began construction of a new memory care and independent living community, Springs Ranch Memory Care, in September. The property, located in northeast Colorado Springs, includes 60 units/72 beds of memory care and 12 independent living cottages. The general contractor is Koelsch Construction and the property is expected to open in summer 2017. Erickson Living-Wind Crest is an existing 785-unit independent living community that began construction of Mt. Rosa Court, a 126-unit independent living building, in September. The architect is JHP Architects and the general contractor is Brinkmann Constructors. The new building is expected to open in February 2018. River Valley Inn, a 60-bed skilled nursing facility in Del Norte, began construction in June. The property will be owned and managed by C&G Health Care Management Inc., which also owns and/or manages eight skilled nursing facilities – six in southwestern Colorado and two in Arizona and New Mexico. No additional information was provided by the developer. MGL Partners, Blue Moon Capital Partners and Leisure Care began construction in September of Carillon DTC Senior Living, a 165-unit independent living and assisted living property with 24 memory care units. The general contractor is Milender White and the architect is Parikh Stevens. The property will be managed by Leisure Care and is expected to open in mid-2018. Parkside Village is a 130-unit independent living property in Aurora that began construction in August. The property will be owned by Parkside Village Retirement Community LLC and managed by Resort Lifestyle Communities. The property is adjacent to Shalom Park. The general contractor and architect is Cameron General Contractors. The property is expected to open in January 2018. Sable Ridge Apartments is a 60-unit, income restricted, age-qualified apartment property funded with 4 percent low-income housing tax credits that began construction in September. The property, located in Denver, is a second phase of development to Sable Ridge Residences, which is also funded with 4 percent low-income housing tax credits. The architect is David Langley and Associates and the general contractor is Spectrum General Contractors. The property owner is Sable Ridge Apartments LLC and the management company will be Kenneth A. Walker and Associates. Melody Senior Living is a 57-unit assisted living and 22-unit memory care community in Colorado Springs broke ground in October. The architect is Lantz-Boggio Architects and the general contractor is Cedarwood Development. The property is being developed by Cedarwood Development and will be managed Cappella Living Solutions. Openings Physicians Development Group held a grand opening ceremony for its new 48-unit skilled nursing facility in Louisville, Flatirons Health and Rehabilitation, in August. The architect and contractor was The Neenan Co., and the property will be managed by Axiom Healthcare Services. Washington County Nursing Home held a grand opening ceremony for its four-house, 40-unit “Green House” skilled nursing community Sept. 13. The Green House replaces the dated existing facility. The architect was Lantz-Boggio Architects and the general contractor was GH Phipps Construction. Christian Church Homes, a not-for-profit senior housing owner and developer based in Oakland, California, opened Hatler-May Village, a 77-unit, age-qualified, income-restricted apartment community, in September. The project received an award of 9 percent low-income housing tax credits from the Colorado Housing and Finance Authority. The Peaks at Old Laramie Trail is a 40-unit assisted living and 28-unit memory care property in Lafayette that opened in September. The architect was Pi Architects and the general contractor was SCI Construction. The property is owned by Meridian Realty Advisors and managed by Integral Senior Living. Ashley Manor is a new standalone memory care property in Northglenn, consisting of two 16-unit residences. The owner, Ashley Manor Care Centers, held a grand opening ceremony Aug. 25. Harvard Square is an existing independent living and assisted living community in Denver that opened a 40-unit memory care addition in October. The property was sold to NorthStar Healthcare Income Inc. in 2014 and currently is managed by Watermark Retirement Communities. The general contractor was Bristlecone. Affinity at Loveland is a 155-unit, market-rate, age-qualified apartment property that opened in September. The architect was CTA Architects and Engineers and the general contractor was Inland Colorado. The property is owned and managed by Inland Group. Spring Creek Apartments in Longmont is a 60-unit, income-restricted, age-qualified apartment property funded with 9 percent low-income tax credits. The Longmont Housing Development Corp. held its grand opening ceremony Oct. 12. The architect was Workshop8 and the general contractor was Deneuve Construction Services. 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.