Seniors Housing Business

OCT-NOV 2017

Seniors Housing Business is the magazine that helps you navigate the evolution of the seniors housing industry.

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Development 12 www.seniorshousingbusiness.com Seniors Housing Business n October-November 2017 commercial banking | healthcare Illinois | Marty Koutsky Midwest Market President One N. LaSalle Street Chicago, IL 60602 Tel: 312.419.4108 Marty.Koutsky@leumiusa.com national head of healthcare Eric A. Halpern 579 Fifth Avenue New York, NY 10017 Tel: 212.626.1372 Eric.Halpern@leumiusa.com New York | Claudia Gourdon Senior Relationship Manager 579 Fifth Avenue New York, NY 10017 Tel: 212.626.1287 Claudia.Gourdon@leumiusa.com Florida | Hely Santeliz Senior Relationship Manager 19495 Biscayne Boulevard Aventura, FL 33180 Tel: 305.918.6320 Hely.Santeliz@leumiusa.com California | Thomas Belli Relationship Manager 555 W. Fifth Street Los Angeles, CA 90013 Tel: 323.966.4714 Thomas.Belli@leumiusa.com leumiusa.com Leumi Helping You Grow Your Senior Housing Portfolio And fortunately, we're no ordinary bank. As people age, their needs increase—and so does the demand for senior housing and specialized care facilities. At Leumi, we understand the complexities of your business and the challenges you face in your industry. We provide the resources, tools, and services you need to make a difference in the senior housing facilities you own and operate. Our Healthcare Relationship Managers provide the guidance and support you need to navigate these complex financial waters. Contact Leumi to start the conversation. With over 40 years experience in the senior housing industry, we understand it's no ordinary business. Bank Leumi USA® is an FDIC insured, New York State chartered bank. Leumi and Bank Leumi are brands operated by Bank Leumi USA®. Bank Leumi USA®is a wholly-owned subsidiary of Bank Leumi le-Israel, B.M. and part of the Leumi Group. Ocean Land Investments to build 401-unit high-rise in South Florida Fort Lauderdale, Fla. — The Fort Lauderdale City Commission has approved Ocean Land Investments' proposed Riverwalk Residences of Las Olas project. The community will offer 401 units of independent living, assisted living and memory care in the South Florida city of Fort Lauderdale. Borges Architects + Associates designed the 42-story tower, which will offer 192 units of independent liv- ing, 152 units of assisted living and 52 units of memory care. The project will be Fort Lauderdale's tallest building. Amenities will include restaurants, a rooftop bar, full-service spa, fitness center, virtual sport rooms, theater, outdoor pool, hotel rooms, on-site doc- tor's offices and valet parking. The project will feature a gourmet market that will be open to the public. The property is located near down- town Fort Lauderdale's Riverwalk, museums, the Broward Center for the Performing Arts, shopping and dining. Ocean Land Investments Inc. spe- cializes in the development of prime waterfront properties. Riverwalk Residences of Las Olas will be Fort Lauderdale's tallest building once it is completed and will offer 401 seniors housing units. Killefer Flammang Architects completes conversion of historic church to affordable housing Long Beach, Calif. — Killefer Flammang Architects (KFA) has completed Immanuel Place, an af- fordable seniors housing commu- nity in the Bluff Heights Historic District of Long Beach. The $12 million project converted the 90-year-old Immanuel Church into a 31,000-square-foot, 25-unit community. Thomas Safran & As- sociates developed the property. The adaptive reuse project pre- served the church's stained-glass windows, pipe organ and three- story sanctuary. The development also moved an adjacent home to another area of Long Beach, mak- ing room for a parking lot. Immanuel Place was financed through a combination of Low In- come Housing Tax Credit equity from Union Bank, an Infill Grant from the California State Depart- ment of Housing and Community Development, a loan from the U.S. Department of Housing and Ur- ban Development (HUD), HOME Investment Partnership Pro- gram funds from the City of Long Beach/The Long Beach Commu- nity Investment Company, a loan from the Community Development Commission of the County of Los Angeles, and funds from the Fed- eral Home Loan Bank. KFA is an architecture and design firm specializing in urban infill and adaptive reuse projects. The com- pany is based in Santa Monica. Pathway to Living opens 107-unit community in Illinois Westmont, Ill. — Pathway to Liv- ing has opened Aspired Living of Westmont, a 107-unit independent living, assisted living and memory care community in the Chicago suburb of Westmont. Located on three acres, the com- munity offers 73 units of indepen- dent living and assisted living. It also marks the debut of Pathway's "Spark of Life" memory care pro- gram, which will be offered in the 34 private memory care suites. The designer of the project was Arizona-based firm Thoma-Holec Design. The Westmont community is the

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