Senior Housing

Phase four of The Branches at Centerville will complete the comprehensive revitalization of the site of the former Clement T. Branch Village.

The New York Botanical Garden has partnered with Douglas Development to construct a two-building, 450-unit affordable housing development for seniors and families.

Investors have stars in their eyes when it comes to seniors and transit-oriented housing because demand has outpaced supply for both asset types in core urban markets.

"Developers are applying a more rigorous project selection process to position each planned community for success."

The firm, fresh off its announcement last month that it had initiated a $12-billion investment strategy for its student housing and residential divisions, has hired real estate veteran Russell Brenner as president of the new medical office and life sciences entity.

Evergreen Real Estate Group commenced construction on the $81-million project at 4515 N. Winchester Ave. in Chicago's Ravenswood neighborhood last week.

Rockport Mortgage Corp. closed a $24-million FHA loan for the. Verona Senior Citizens Apartments in Verona and $27 million in FHA financing for Mansion Apartments in Pine Hill.

The properties are located in Florida cities of Naples, St. Petersburg and Clearwaters as well as one in Greenville, SC.