Capitol Seniors Builds Active Living MF in Cinnaminson
“Siena is indicative of active living communities, a rapidly growing subsector of senior living that appeals to adults ready to downsize, live near neighbors like themselves, but not quite ready for the more traditional independent senior living community,” says Michael Hartman, principal – active living, Capitol Seniors Housing.
CINNAMINSON NJ—Washington, DC-based Capitol Seniors Housing has acquired Siena, an upscale active living community in Cinnaminson, NJ, and plans to complete the master plan for Siena, starting construction this summer on a state-of-the-art clubhouse and seven residential buildings with 119 luxury homes for lease. Located at 1411 Siena Drive across from The Shoppes at Cinnaminson, Siena is a 15-acre development and home to adults aged 55 or older and currently consists of five buildings with a total of 85 residences.
“Siena is indicative of active living communities, a rapidly growing subsector of senior living that appeals to adults ready to downsize, live near neighbors like themselves, but not quite ready for the more traditional independent senior living community,” says Michael Hartman, principal – active living, Capitol Seniors Housing. “We’re also excited about this location and being a part of the redevelopment efforts along Route 130, including new tenants in The Shoppes at Cinnaminson across from Siena.”
Siena’s new, upscale clubhouse is scheduled to begin construction this summer and be completed in early 2019. The clubhouse will feature a fitness center, yoga studio, great room, and card room. Outdoors, new patios will provide more socializing areas for residents. The property will have new landscaping and signage throughout. Residents of Siena will enjoy a full calendar of activities.
Construction on the seven residential buildings also will begin this summer and is expected to be completed as early as mid-2019. Existing and new residences at Siena are all two-bedroom models ranging from 1,114 to 1,873 square feet. The new homes will feature large and spacious floorplans, and well-appointed kitchens, laundry rooms and other amenities. Residences also will include contemporary finishes including granite countertops, luxury plank flooring, stainless appliances and custom cabinetry.
“Siena and the completion of the master plan for the community is perfectly aligned with our investment strategy and vision for our Active Living division,” says Scott Stewart, managing partner of Capitol Seniors Housing. “Cinnaminson Township offers an amazing quality of life experience and is an ideal area for retirees to live.”
Located off the Burlington Pike at 470 US 130, Siena is minutes from the bridges to Philadelphia and near numerous shopping centers, restaurants, service retailers and country clubs. In addition to The Shoppes at Cinnaminson, five malls are within a 20-minute drive. Recreation and social activities are close by, including Pomona Swim Club as well as several country clubs including Riverton, Willow Brook and Ramblewood. Siena is close to Cooper Hospital, Kennedy Memorial Hospital, Our Lady of Lourdes Hospital, Virtua Memorial Hospital in Burlington County and Deborah Heart and Lung Center.
Siena will be managed by Cove Property Management, Annapolis, MD. In addition to Siena, Capitol Senior Housing also owns other New Jersey properties, including the recently opened Atria Norwood, as well as Arbor Terrace Morris Plains and The Chelsea at the Solana Marlboro. The company is constructing three other senior living communities in New Jersey: Arbor Terrace Mountainside, Arbor Terrace Mount Laurel and The Chelsea at Shrewsbury.
CSH is a private equity-backed real estate acquisition, development and investment management firm founded in 2003.