Deal Profile: Homestead at Towne Center

When complete, this ground up development in the City of Van Wert, OH, will have 56,000 square feet of space for 75 beds to serve senior citizens and memory care needs. The project was developed on an outparcel within an established retail center just off a highway interchange. This Deal Profile focuses on the process of placing and obtaining Property Assessed Clean Energy (PACE) financing as well as the intricate partnerships required.

Celadon at 9th & Broadway

Celadon at 9th & Broadway is a mixed-use project that provides 250 units of affordable housing plus commercial space in downtown San Diego. The affordable units are targeted to a range of age groups and housing needs. It is notable for its complex arrangement for financing the affordable units, since it was the first project in the state of California to stack two low-income housing tax credit (LIHTC) allocations into one building. Celadon also incorporates a number of sustainable features, including a rooftop eco-garden, solar photovoltaic walls, and a solar hot water system. The project opened for occupancy in May 2015 and is certified Gold under the Leadership in Energy and Environmental Design (LEED) program.

The Interlace

The Interlace is a 1,040-unit mixed use development inspired by the old villages of Singapore. Developer CapitaLand Singapore Limited partnered with the Office for Metropolitan Architecture to create eight courtyards, cascading rooftop gardens, and terraces within a “vertical village” to provide views, ventilation, and green spaces for all levels of the 24-story complex. The hexagonal arrangement of the development was designed and tested to provide passive cooling and shade in Singapore’s tropical climate.

Physical activity, social interaction, and aging-in-place is encouraged through a wide range of facilities. There is a series of play pools, an Olympic-sized lap pool, three tennis courts, and a fitness center. Bicycle storage and parking facilities are provided underground and vast green spaces, covering over 112 percent of the original property, are provided at ground level and above. Community gardens, playgrounds, barbeque pits, dog runs, and outdoor exercise equipment promote outdoor physical activity and social gatherings. A running track around the perimeter of the Interlace is so wide it doubles as access for fire and emergency response vehicles. The universal design features of the Interlace, including specialized aging-in-place units and wheelchair-friendly fitness centers, was recognized by Singapore’s Building Construction Authority with the Gold Plus (Design) award.


Mueller is a 700-acre redevelopment of a former airport into a health-focused master-planned community just three miles from downtown Austin, Texas. By 2020, Mueller is projected to have over 5,700 single family and multifamily units, a quarter of which will be affordable for low-income families. The Catellus Development Corporation worked with master planners ROMA Design and McCann Adams Studio to promote community health and wellness, to increase pedestrian activity, to improve air quality, and to utilize low-emission building materials.

Mueller’s various facilities and amenities are designed around the principles of social interaction, open space preservation, and active lifestyles. Tree-lined sidewalks and protected bicycle lanes provide shade and connect to a comprehensive trail system, retail, and recreational parks to encourage walking and bicycling. To promote physical fitness, Mueller provides sports facilities, playgrounds, a stretching area, and outdoor showers. A six-acre orchard and community garden provides residents with a seasonal harvest. Residents have initiated over 40 different clubs and interest groups and over 70,000 people attend large scale community events annually. The developer has facilitated social interaction these interactions through a block party at move-in and through physical design, including front porches, stoops, gardens, and alleyways in residential areas.

St. Joseph’s Campus

St. Joseph’s Campus in Oakland, California, offers 146 new apartments affordable to seniors and families with low incomes, on a multigenerational campus comprising three rehabilitated historic buildings, one new building, and amenities like gardens, community and art rooms, and social services. The campus was built in one of the costliest housing markets in the United States, and the deal was assembled during the immediate aftermath of the 2008 financial crisis, at a time when housing construction had come to a near-standstill.

The design sensitively creates environments that cater both to independent seniors who have aged out of their homes, as well as to large families seeking safe and clean housing. The campus rejuvenated a beloved local landmark, respecting the neighborhood’s history while adding substantial new housing density on a site near transit, shops, schools, and services.

Cynthia Parker, president and CEO of developer BRIDGE Housing, calls St. Joseph’s an “intergenerational campus that allows people to live, work, and play here . . . a vibrant place for many generations to come.”

Mirabella at South Waterfront

The Mirabella is a sustainable vertical retirement community in the South Waterfront area of Portland, Oregon. Comprised of a 30-story building on 1.15 acres (0.47 ha) just south of downtown Portland, the Mirabella houses over 400 residents. The 517,000 square-foot (48,031 m2) building has 224 upscale apartments, 16 assisted care units, 23 skilled nursing beds, 25 memory care beds, 70,000 square feet (6,503 m2) of common area amenities, and a 250-car below-grade parking garage. The amenities offered include dining areas, commercial kitchens, retail space, fitness areas, office space, and classrooms.

Armstrong Place

Armstrong Place creates an environment for multigenerational interaction in affordable housing by combining 116 affordable senior apartments with 124 below-market-rate townhouses and 7,600 square feet (706 m2) of ground-floor retail space on 3.1 acres (1.25 ha) in the Third Street corridor in San Francisco, California. The senior apartments are targeted towards very-low-income seniors with 23 reserved for formerly homeless seniors. The townhouses are geared to first-time homebuyers whose annual income is between 60%–120% of the area median income. The development covers a full city block, allowing for denser housing to be built around central communal green spaces.

North Hills

A staid 1960s mall and its surroundings have been transformed into a $1 billion, 94-acre urban destination—located on two major parcels separated by an arterial street—for one of the country’s fastest-growing metropolitan areas. At North Hills, a finely balanced mix of uses surrounds parks, plazas, and walkable streets. In all, visitors will find 988,500 square feet of lifestyle and convenience retail, dining, and entertainment; 1,056,000 square feet of office space; 920 residential units; and 366 hotel rooms. The careful arrangement of uses, both vertically and horizontally, allows boutiques and fine dining to coexist at North Hills with parking garages, office space, and large-format retailers. Local developer Kane Realty began the project in 1999 by repositioning a modest retail strip and then demolishing the mall and assembling adjacent parcels for redevelopment. In the years since, the project scope has steadily evolved to encompass a broad, long-term vision of a 24-hour, high-rise urban district.

Peninsula Regent

A 207-unit luxury high-rise continuing care retirement community built on a two-acre site at the edge of downtown San Mateo. Residents purchase a membership in the facility, which includes a condominium interest in a fully equipped one- or two-bedroom residential unit. The project was designed to provide the luxury environment and services of a first-class hotel while offering a comprehensive health care program that includes a wellness program, a drop-in clinic, and the services of an on-site medical director. Each of the eight unit types is finished as a high-end condominium and includes Corian countertops, a stacked washer/dryer unit, spacious closets, and a balcony. The project, which targets affluent seniors, also maintains an assisted living wing of 20 private rooms that residents can move into temporarily if needed.

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