Kensington

McCaffery and Solera Senior Living to Develop $75M Project in Kensington, Maryland

Modena Reserve at Kensington, Senior Living Community

The two-acre site, located at the intersection of Metropolitan Avenue and St. Paul Street, will offer 135 upscale senior living apartments and a café. The project will implement the latest sustainable design and construction practices and will target LEED® Certified designation. “This is the largest project the town has had in over 40 years,” says Mayor Tracey Furman. Mayor Furman has been an advocate for the project since the proposal and is particularly pleased with the development’s inclusion of two Kensington historic buildings.

Developer McCaffery Enters Senior Housing with New Solera Venture

A prominent name in real estate development is creating its first senior living projects, partnering with Solera Senior Living on a pipeline in the mid-Atlantic region of the U.S. The Denver-based senior living operator is partnering with Chicago-based McCaffery Interests on Modena Reserve at Kensington, a 135-unit community with independent living, assisted living and memory care in Kensington, Maryland. The $75 million, 167,000-square-foot development is the largest project in Kensington in 40 years and marks McCaffery’s entry into the senior living space.

Read Article

Developers Secure Financing To Break Ground On $75M Senior Living Project In Montgomery County

McCaffery and Solera Senior Living announced Thursday they established a partnership with AEW Capital Management and secured a construction loan from M&T Bank to break ground on the 135-unit Modena Reserve at Kensington. The $75M project is expected to break ground this month on a 2-acre site at the intersection of Metropolitan Avenue and St. Paul Street and deliver in early 2021. The 167K SF building is planned to include a 10K SF courtyard, multiple restaurants, a wine bar, a café, a penthouse lounge and a fitness center.

Read Article

Five-Story Senior Living Center Coming to Kensington

In partnership with Solera Senior Living, McCaffery has received the green light to proceed with development of Solera Reserve at Kensington, a modern senior living facility in Kensington, Maryland.

Read Article

Subscribe to RSS - Kensington