In the Pipeline: Senior Housing Construction Projects
Senior Housing News
Oregon Real Estate Group Plans Two Big Budget Projects
May 8th 2013
BPM Real Estate Group is planning two "big budget" senior housing projects it intends to build at Goodpasture Island in Eugene, Oregon, reports Portland Business Journal.
Last month, BPM closed a $47.5 million construction loan with Wells Fargo Bank for its Riverwalk project, a $70 million, 466-unit apartment complex on the Willamette River.
For its other project, the Portland-based developer secured a $24 million construction loan from First Republic Bank to construct Waterford Grand, a $32.5 million, 140-unit senior housing project.
Myhre Group Architects of Portland designed the Waterford project, which will offer a variety of residential units as well as a memory care center.
Hoviss Development Group LLC will serve as the general contractor for site improvements, while Chambers Construction of Eugene is general contractor for vertical construction. Bowen Property Management will serve as the ownerâ€™s representative.
Upon opening, Waterford Grand will be managed by BPM Senior Living Co.