Modena Reserve at Kensington

6 Senior Living Providers to Watch in 2020

Modena Reserve at Kensington, Senior Living Community

Solera broke ground last October on Modena Reserve at Kensington, a $75 million, 135-unit community in Kensington, Maryland with independent living, assisted living and memory care, in a partnership with Chicago-based real estate developer, McCaffery Interests. Modena Reserve is McCaffery’s first venture into senior living, and CEO Dan McCaffery told SHN it is only the beginning. The McCaffery-Solera JV is close to securing a second site in the Washington, D.C. market and is scouting other opportunities in what may eventually become a $500 million development pipeline.

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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.

McCaffery CEO: Right Design, Operator Behind $500M Senior Housing Pipeline

Modena Reserve at Kensington, Senior Living DC

McCaffery Interests’ entry into senior housing can be summed up in three words. “Development follows demand,” CEO Dan McCaffery told Senior Housing News. The Chicago-based developer broke ground last week on Modena Reserve at Kensington, a $75 million, 135-unit community with independent living, assisted living and memory care in Kensington, Maryland with operating partner, Denver-based Solera Senior Living.

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