Tag Archives: life plan community

Mary's Woods Logo

Mary’s Woods Finances for Growth

On the banks of the beautiful Willamette River, a 16-year-old non-profit senior living community is capitalizing on its strong market reputation to grow for the future. Mary’s Woods at Marylhurst financed its existing continuing care campus in 1999 and it first opened in 2001.

Located in the Portland suburb of Lake Oswego, Ore., the community currently includes 233 independent living units, 50 independent living villas, 55 assisted living units, 23 memory support suites, 26 residential care suites and five licensed skilled nursing beds.

In April, Mary’s Woods secured $114,815,000 in tax-exempt bond financing and $60,250,000 in tax-exempt mandatory paydown securities that will help it add more units and serve more seniors.

The expansion will be called The Village at Mary’s Woods, and it will include 144 independent living units, 48 assisted living units, two common area buildings, 152 underground parking spaces and 150 above-ground parking spaces. One of the unique aspects of the project is a residential Town Square that will offer convenient services and programs that the organization has learned its residents appreciate and need.

Construction of this expansion will take place on 12 unused acres on the community’s existing 75-acre campus. Substantial construction is scheduled to end in phases, with completion of the first buildings to begin in late 2018 and completion of the entire project in late spring or early summer of 2019.

Mary’s Woods is led by a 16-member board of directors that includes Board Chair David Galt and Chief Executive Officer Diane Hood. This expansion will help Mary’s Woods capitalize on a market opportunity and serve its waitlist that includes more than 300 prospective residents.

“At the start of this project, our management team recognized the need for outside experience and expertise, both to ensure ultimate success and to provide assurances to our board as we moved forward,” Hood said. “Greystone brought a third-party perspective and a first-party investment in the project. They also brought a strong industry reputation, which was immensely helpful in navigating the capital markets to secure financing.”

Senior Vice President Stuart Jackson led Greystone’s work on this project:

“Mary’s Woods enjoys an incredible reputation in its market, which helped this expansion sell out as quickly as any that Greystone has worked on since the Great Recession,” Jackson said. “It’s been a pleasure to support such a strong organization — Diane and her team were excellent to work with. They are making a difference in the lives of their current residents, and this expansion will help them make a difference in many more lives in the future.”

Learn more about The Village at Mary’s Woods.

See renderings of the project in the gallery below.

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Gulf Coast Village Accepting Reservations for Expansion

A $31 million, 128-unit expansion is close to opening at Gulf Coast Village’s continuing care campus in Cape Coral, Fla. Sponsored by Volunteers of America, Gulf Coast Village spent nearly three years planning this expansion, which includes both assisted living and memory support units. And construction of the expansion, called Palmview, has been taking place on the 36 acres adjacent to the existing Gulf Coast Village community for the past 18 months.

Now, in preparation for a March opening, the community is accepting reservations from those interested in living at Palmview. Once the Palmview project is complete and fully operating, Gulf Coast Village will take on a second phase that includes the $5.9 million transformation and renovation of existing assisted living units into skilled nursing units.

The Cape Coral Daily Breeze recently shared an update on progress at Gulf Coast Village. Executive Director Kevin Ahmadi said: “I couldn’t be more pleased to bring a state-of-the-art assisted living product to the Cape Coral market. Palmview will set the standard for all assisted living facilities.”

Greystone is serving as development consultant on the Palmview project, in addition to its role as management consultant at Gulf Coast Village.

See recent aerial photos of the Palmview expansion in the gallery below. Learn more about Gulf Coast Village.

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Photos: See Repositioning Results at The Terraces at Los Altos

The end of a long-term repositioning project at ABHOW’s The Terraces at Los Altos has arrived, and the final results are spectacular. The three-phase project’s construction first started in the summer of 2012 when ABHOW chose to move forward with revitalization plans at one of its oldest communities.

The first phase of repositioning included new memory support and skilled nursing units. A second phase added assisted living and commons areas. And a third phase created 87 independent living units, more commons areas and a parking garage at the campus in Los Altos, Calif.

The campus now features a total of 105 independent living units, 30 assisted living units, 16 memory support suites and 30 skilled nursing beds. The repositioning kept the community’s buildings small by intention in order to reflect the location of the campus within a large-yet-intimate residential area.

The impact of repositioning at The Terraces at Los Altos was evident even before the project’s completion. It earned recognition as the Best Repositioning of 2015, according to Senior Housing News. Now that the project is fully complete, The Terraces at Los Altos will move forward as one of California’s premier Life Plan Communities.

Greystone served as development consultant throughout repositioning at The Terraces at Los Altos. See photos of the completed community in the gallery below. Learn more about The Terraces at Los Altos.

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UCF

UCF Secures BANs Financing for Legacy Pointe Project

The University of Central Florida has secured nearly $14 million in financing for Legacy Pointe at UCF, a Life Plan Community proposed for 43.52 acres just a mile northeast of campus in Oviedo. The financing arrived in December 2016 via bond anticipation notes (BANs) underwritten by Ziegler.

Legacy Pointe at UCF is expected to include 126 independent living units, 30 independent living cottages, 48 assisted living units, 32 memory support suites and 48 skilled nursing beds. Construction should begin in early 2019 with the project scheduled for completion and opening in summer of 2020.

Greystone is serving as development consultant on the Legacy Pointe project. See renderings of the planned community in the gallery below.

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The Buckingham’s Expansion Takes Shape in Houston

Scaffolding has appeared as The Buckingham expands its life plan community campus in Houston. This Senior Quality Lifestyles Corporation-sponsored community is in the process of adding 106 independent living apartments, 27 assisted living units, 18 memory support suites and 32 skilled nursing beds.

Workers are currently installing windows and exterior finishes. The project will be completed in phases, with the earliest phase opening in 2017’s second quarter.

In addition to its duties as management consultant at The Buckingham, Greystone is also serving as development consultant on this expansion project.

See construction photos below. Learn more about The Buckingham.

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Santa Marta’s Health Care Expansion Nearing Completion

Santa Marta is pushing toward completion of a health care expansion at its life plan community campus in Olathe, Kan. The $11 project will add eight assisted living units, 12 memory support suites and 18 private skilled nursing beds, as well as a new physical therapy gym.

The skilled nursing portion of the project is expected to be ready for occupancy this November. Workers are currently painting and installing flooring, tile and wall coverings. Final grading has also started in preparation for landscaping.

The assisted living and memory support portions of the project are expected to be ready for occupancy this December. Workers are currently installing showers and finishing drywall. Painting will soon commence.

In addition to its duties as management consultant at Santa Marta, Greystone is also development consultant on this expansion project. See photos of progress in the gallery below.

Learn more about Santa Marta.

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Growth Continues at Masonic Homes of Kentucky

Louisville’s finest life plan community continues to grow thanks to a stellar brand reputation, strong demand and a mission that seeks to provide outstanding senior living options.

Masonic Homes of Kentucky broke ground this month on The Meadow, a 122-unit independent living community that will include an 80-seat movie theater, a 300-seat performance space, a café and other amenities.

“When we take on a project like The Meadow, we do so with our key values in mind: growth, innovation, remarkable service and passion above all,” said MHKY President and CEO Gary Marsh in an Insider Louisville story.

The Meadow is nearing 90 percent in presales, which is the same marketing success that MHKY has enjoyed with previous projects on its 82-acre Louisville campus. An upcoming bond issue is expected to finance the $44 million needed for The Meadow plus an additional $14 million for Grove Pointe, an assisted living center also planned for MHKY’s Louisville campus.

Greystone is serving as marketing and development consultant on The Meadow project. Other project team members include Reese Design Collaborative, Paul Mattingly/Congleton-Hacker Constructors and AG Architecture.

See the groundbreaking ceremony using the video player below.

Learn more about Masonic Homes of Kentucky.

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Update: See the Agenda for The Greystone Event 2016

The agenda is now available for The Greystone Event 2016, taking place July 13–15 at the Four Seasons Resort and Club Dallas at Las Colinas. Here’s a look at this year’s collection of topics relevant to today’s changing environment as well as speakers who have the experience and knowledge to address them:


Lead, Plan, Act: Become a Growing Provider in a Growing Industry


Wednesday, July 13

Welcome Reception


Thursday, July 14

Welcome and Introduction: Mark Andrews (Greystone)

The Shape of Things to Come? John Spooner (Greystone)

The Big Merger—Driving Mission and Leadership: John Cochrane (Cornerstone Affiliates), Randy Stamper (ABHOW)

Moving Intentionally, Advancing Intentionally: Diane Hood (Mary’s Woods at Marylhurst), Stuart Jackson (Greystone)

The Bigger Question: How to Serve the Middle Market: Brad Straub (Greystone), Robert Green (Greystone), Patt Brewster (Greystone)


Friday, July 15

Welcome and Recognizing Excellence—The 2016 Greystone Diamond Awards: Jim Knox (Greystone)

Why the For-Profits are not Afraid of Non-Profits and Why Non-Profits Should be Afraid of For-Profits: Mary Munoz (Ziegler)

Unraveling Health Care’s “Resident Centered” Puzzle—Design, Mix, Program and Price: Sue Plasterr (Greystone), Mindy Cheek (Greystone), Kristi Cavrich (Greystone)

Resident Pricing That Rocks: Tricia Mackin (Greystone), Matt Aubè (Greystone)

Selling New and Old—Expanding and Keeping Full: Mary Jane Fitts (Greystone), Sharon Hutson (Greystone), Teri Lock (Greystone)

Driving Organizational Strategic Thinking: Kassi Shaw (Greystone), Kevin Bedford (Greystone), Tom Keegan (Greystone)

Key Factors in Driving Success for Today’s Operating Communities: Harold Weyand (Greystone), Steve Ailey (Greystone), Andrew Leech (Greystone)

Closing Remarks: Mark Andrews (Greystone)


Contact us if you’re interested in attending The Greystone Event 2016. See highlights from last year’s Event, or see photos in the gallery below.

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Nakoma Sky Logo

Nakoma Sky: Coming to Greater Tucson in 2019

La Posada will soon grow its presence in Southern Arizona with the development of Nakoma Sky, a community planned for Oro Valley just north of Tucson. This new community’s budget is expected to be between $90 and $100 million, and it should open in 2019.

Nakoma Sky will include 218 independent living units, 24 assisted living units and 24 memory support suites in a 50,000-square-foot structure on a 70-acre campus. It will feature amenities like resident lounges, a library, a fitness center overlooking the Catalina Mountains, art studios, meeting spaces, a salon, dining and recreation venues as well as a 3,400-square-foot infinity pool.

Marketing of Nakoma Sky is underway with Greystone serving as marketing consultant. The community began taking deposits in March, and future residents have already secured 71 apartments.

In addition to Greystone serving as marketing consultant, La Posada has also brought on three: living architecture to design the community, Diversified Design and Construction to serve as contractor, Talley Associates to handle landscaping and THW Design to design the interior.

See renderings of Nakoma Sky in the gallery below.

Learn more about the Tucson area’s next senior living community.

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See What’s Happening at Sales Adventure 2016

Sales Adventure is Greystone’s annual meeting and conference for community marketers from around the country. Each year’s Sales Adventure includes education sessions given by leading senior living professionals, small breakout groups and workshop-style time, networking opportunities and social events. Sales Adventure 2016, which starts this week, will be no different.

Here’s a look at the agenda for Sales Adventure 2016:


Thursday, April 28

General Session: Keynote Speaker (Dave Martin)

General Session: Inside Out: The Value of Self-Discovery in Leadership (Merna Smith)

General Session: Baker Communications (Baker Communications)

General Session: The Power of Words, Part 2 (Bruce Byers)

Independent Living Breakout Session: Recovering From Lead Fatigue (Bluespire Senior Living, Teri Lock)

Health Care Breakout Session: Stand Out Among the Clutter! (Mindy Cheek)

Independent Living Breakout Session: Capitalizing on Technology to Illuminate the “WOW” (Tricia Mackin)

Health Care Breakout Session: First Impressions Matter (Sharon Hutson)

Independent Living Breakout Session: Breaking Tradition: Selling to Savvy Seniors (Mary Jane Fitts)

Health Care Breakout Session: Peace, Love and Me: Getting Inside the Head of an Adult Child (Patt Brewster)


Friday, April 29

General Session: Keynote Speaker (AmyK)

General Session: Panel Discussion: Residents, Who and What Influences Their Decisions (ACI/Resident Panel)

General Session: Are You Up for the Challenge? (John Spooner)


See a special Sales Adventure message from keynote speak AmyK in using the video player below.

See a recap and photos from Sales Adventure 2015.