BOULDER, CO – Trammell Crow Residential, a national multi-family real estate developer, announced that it will host a groundbreaking ceremony to honor the start of construction on Diagonal Crossing, a mixed-use apartment community on the northern edge of Boulder. 

TCR is donating three of the six parcels to local nonprofit organizations – Studio Arts, Meals on Wheels and Naropa University, which will utilize the space for community art classes, a meal distribution facility and faculty housing, respectively. The remaining three parcels will consist of one with 250 market-rate homes, one with 85 affordable homes and another with dedicated retail space. The affordable homes will be developed and owned by a partnership of Allison Management and Koelbel and Company.

“As the vast majority of Boulder’s housing stock consists of single-family homes and smaller buildings converted into apartments, the demand for quality apartment housing has grown well beyond the available homes in the market,” said Jarvie Worcester, Managing Director of Mountain States Division for TCR. “We believe the Diagonal Crossing community will help meet the demand while also making housing opportunities for the firefighters, nurses, police officers and others who work to serve and protect the community. We’re also thrilled to give back to the community by donating parcels to three wonderful local nonprofits.”

Studio Arts is a nonprofit art education organization that provides high-quality ceramics programs the Boulder Pottery Lab and partners with similar arts organizations. The Boulder chapter of Meals on Wheels provides fresh, nutritious meals to people in need in the city, regardless of age or income. Naropa University is a Buddhist-inspired private liberal arts college based at 2130 Arapahoe Avenue. 

Diagonal Crossing will achieve LEED Silver certification and will be built to a minimum 60 HERS Index, which measures home energy efficiency. As the master developer, TCR will handle the logistics for all six parcels, including utilities, landscaping, roads, sidewalks and streetlights. 

Situated at the northern entrance of Boulder 3600 State Highway 119, the site, which has been vacant for many years despite its prime location, is bordered by Independence Road to the south, 47th Street to the west and Highway 119 to the east. Two out-lots at the community will connect to green space and a multi-use recreational trail. 

Diagonal Crossing will consist of studio, one- and two-bedroom homes. Community amenities will include a 6,000-square-foot clubhouse and fitness center, outdoor swimming pool and spa, bike storage, B-Cycle station and a landscaped center promenade with public art displays. Apartment interiors will be equipped with quartz countertops, tile backsplashes, stainless steel appliances and nine-foot ceilings. Many will feature covered parking and storage lockers.

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HOUSTON, TX – Tradition Senior Living, a high-end senior living owner, developer and operator, has broken ground at The Tradition-Woodway, 6336 Woodway Drive, Houston, Texas 77057. With an exceptional location in the heart of Houston’s premier Tanglewood and Memorial areas and next to Second Baptist Church, Tradition Senior Living’s second community in Houston will be home to 314 residences. The initial opening is plotted for April 2020.

A 23-tale, high-rise rental community with no buy-in fee, The Tradition-Woodway will offer a continuum of care, including 222 Independent Living residences and 92 Helped Living/Memory Care residences. This will be the fourth campus developed by the Texas-based senior living company, which was founded by Jonathan Perlman, Sr. 

“Our first venture in Houston, The Tradition-Buffalo Speedway, has been extremely well received by the community, and we expect to replicate this enthusiasm with The Tradition-Woodway,” said Perlman. “We remain dedicated to providing the high standards of elegant living, comfort, safety, and care that we have become known for since the opening of our flagship community in Dallas eight years ago.” 

The Tradition-Woodway will boast resort-style living with ultra-inclusive services and amenities: 24-hour concierge; valet parking; gorgeous, light-filled residences and common areas, including lounges and card rooms; a movie theater and an indoor golf simulator; a secure parking garage with controlled access; some of the area’s largest one- and two-bedroom apartment homes; a penthouse floor with larger apartments; restaurant-style dining in multiple venues with extensive menus; exceptional daily activities and wellness programs; lush landscaping, a dog park and a putting green; and transportation.    

Comprehensive fitness areas will include an indoor pool, a weight room, a Pilates room, and a group-exercise room for classes taught by in-house fitness instructors. A Physical Therapy Center will have an underwater treadmill. 

The safety and well-being of the residents are always top-of-mind at The Tradition, and state-of-the-art security measures, including access control and security cameras, will be established throughout the community. The Tradition-Woodway will have natural gas generators that will provide an electrical backup system for the entire community. 

The Tradition-Woodway’s spacious common areas will retain the classic, elegant themes previously established by Tradition Senior Living – gorgeous, English antiques in airy, livable rooms. The upscale high-rise will provide extraordinary views of the city. 

Perlman noted that The Tradition-Woodway is situated directly across Ripple Creek to the east of Second Baptist Church and less than a half-mile west of the entry to Houston Country Club. The location provides convenient access to brilliant shopping, restaurants, churches, and some of the finest medical facilities in Texas.

Jackson & Ryan Architects and D.E. Harvey Builders, both based in Houston, serve as the architect and general contractor. Tradition Senior Living, LP will manage The Tradition-Woodway. An information center for this second Tradition community in Houston is set to open the last quarter of 2018 onsite at 6336 Woodway Drive.

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WINTER PARK, FL – Watercrest Senior Living Group and Titan Development Real Estate Fund I announce the development of Watercrest Winter Park Helped Living and Memory Care in Winter Park, FL. Walker and Company will start construction of the 107-unit, resort-style senior living community this fall, with plans to open in late 2019.

Watercrest Winter Park will be a signature Watercrest product offering 75 helped living and 32 memory care apartments with premium accommodations, exceptional amenities and world-class care.  Designed by D2 Architecture, Watercrest Columbia will include a stunning promenade, pool, fireplace, signature water wall, multiple dining venues, children’s play space, grand balconies and Southern style outdoor living spaces. Watercrest’s uniquely designed Market Street Plaza, will showcase an ‘outdoor’ streetscape with numerous LifeBUILT programming touches; a highlight and crucial element of their multi-sensory memory care programming.  

“Watercrest and Titan Development are commonly aligned in our vision to develop senior living communities of exemplary design, quality and services in the southeast,” says Marc Vorkapich, Principal and CEO of Watercrest Senior Living Group. “We celebrate this partnership and the opportunity to establish an exceptional product in the distinctive community of Winter Park.”   

With multiple senior living projects in development throughout the southeast, Watercrest principals, Marc Vorkapich, CEO and Joan Williams, CFO, are setting new standards of quality for seniors and their families in the development of upscale senior living communities.  This is the second senior living development project partnered between Watercrest and Titan Development.  Their first project, Watercrest Columbia Helped Living and Memory Care is currently under construction and on schedule to welcome residents in early 2019.

Titan Development Real Estate Fund I (TDREF I) is a $200 million private equity real estate fund established in 2017 to raise and invest equity in approximately $600 million of Titan Development’s existing pipeline and additional investment opportunities. The team provides fund management, strategic investment, and macroeconomic/market analysis services. This investment adds to TDREF I’s growing senior living portfolio, which now includes projects in New Mexico, Florida, and South Carolina. 

“We continue to have a strong interest in senior housing as an investment opportunity,” said Coe Schlicher, Fund Manager. “Absorption of senior housing units remains stable even as inventory shows continued growth. Additionally, rental rate increases for senior housing have been positive in every quarter since NIC started tracking the data. Overall we are confident in the deal the Watercrest team has place together and are excited to see the project get underway.”

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