Best In Senior Housing Award 2009
Seasons of Maplewood – As a result of the 2008 Financial Collapse and subsequent economic recession, real estate development during 2008 to 2015 was literally halted. With expertise in the finance and development of continuum of care communities, Lifestyle Communities was approached by a capital investor that wished to invest in this asset class. A Partnership was formed and development activity was advanced for The Seasons of Maplewood, a 150 unit building comprised of independent, assisted living and memory care units. Municipal approvals, architectural design, pre-construction pricing, financing through the department of housing and urban development, and all necessary equity was procured by the development partnership. The development partnership also sought an operating partner in this development. A unique structure was formed with a local nonprofit operator to operate the property. The partnership retained the senior housing property in Maplewood while successfully launching marketing efforts and pre-leasing and managed the construction and was later sold to the nonprofit during the final phase of construction.