Loudoun Policy Change Opens Door to State, Federal Housing Grants

(RECAP: The Loudoun Board of Supervisors has unanimously approved changes to the county’s Affordable Dwelling Unit program that will open the program up to VHDA and HUD grants. Developers who rezone land for large subdivisions—more than 50 units, with exceptions— are required by county zoning rules to dedicate 12.5 percent of those units to the county’s ADU program. That program sets price restrictions on those units, but the rules don’t line up with what is required for grants VHDA or HUD. The rules change is yielding immediate benefits. Windy Hill expects to bring in $15 million in tax credits for its Heronview Apartments, with construction plotted to start at the Kincora development later this year.)

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New Assisted Living/Memory Care Community Offers Resort-Style Living and Leading-Edge Technology

ROSWELL, GA – International award-winning KTGY Architecture + Plotting announced today that The Georgian Lakeside in Roswell, Georgia, a 95-unit helped living and memory care community, recently opened. KTGY is the designer of this innovative community, offering luxury amenities, leading-edge technology and resort-style living. Griffin Fine Living, LLC is the General Manager. Canyon Partners Real Estate LLC provided the investment capital.

Set in a gorgeous location overlooking a tranquil five-acre lake, The Georgian offers spacious private living suites with accommodations for both independent/helped living and memory care integrated with technological breakthroughs that are changing the senior healthcare industry. The Georgian features 70 helped living and 25 memory care units.

“The distinctly regal three-tale Georgian architecture is a look rarely seen in new senior living communities,” said Manny Gonzalez, FAIA, LEED AP, a principal with KTGY Architecture + Plotting, located in the firm’s Los Angeles office. “Residents and visitors would reckon that they have arrived at an upscale hotel or a lakeside resort.”

KTGY’s Keith McCloskey, LEED AP, executive director in the firm’s Los Angeles office, and the project’s designer and project manager, says that the design takes maximum advantage of the views of the lake by strategically locating common areas, dining facilities and expansive outdoor terraces. Indoor-outdoor connections have also been carefully plotted.

“With warm and comfortable living spaces for these special seniors, the 80,000 square-foot Colonial-inspired building design seamlessly integrates wellness and vibrant living through a variety of amenities and features that support the residents’ different dimensions and stages of life — physical, social, spiritual, emotional, intellectual and environmental wellness,” said Soo Im, AIA, LEED AP, a director in KTGY’s Los Angeles office.  

Residents of The Georgian delight in the thoughtful facility amenities such as multiple dining options, including a private dining room, theater room, hair salon, library, physical therapy and private doctors’ examination rooms, along with numerous activity rooms and an exercise facility to help residents maintain an active and dignified lifestyle. The use of state-of-the-art technology benefits the residents and their families in the primary care, safety and administration for each resident.

“We are very excited for the community of Roswell and the opening of The Georgian Lakeside,” said Gonzalez. “This gorgeous senior living community provides a high level of care and dramatically improves the quality of life for these special seniors and their families.”

The community is located at 1070 Hardscrabble Road, Roswell, Georgia 30075, which is at the intersection of Highway 92 and Hardscrabble Road, and across the street from a Target-anchored shopping center. 

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Greystar Real Estate Partners and Macquarie Capital to Form New Asia-Pacific Rental Housing Platform

CHARLESTON, SC – Greystar Real Estate Partners and Macquarie Capital, the corporate advisory, capital markets and principal investing arm of Macquarie Group, announced that they have signed a letter of intent to jointly form and capitalize a new Asia-Pacific rental housing platform, Greystar Asia-Pac.

Greystar Asia-Pac plans to raise institutional capital to buy, develop, reposition and manage rental residential assets across the region. Greystar is a global leader in the investment, development and management of rental housing, operating over 400,000 rental units in 160 markets globally with an ownership interest in assets worth $14.0B. The expansion into the Asia-Pacific region advances Greystar’s successful international growth strategy – which includes current operations in the United Kingdom, Europe and Latin America – and underscores a long-standing advisory relationship with Macquarie Capital.

Greystar Asia-Pac, the jointly owned venture between Greystar and Macquarie Capital under consideration, would be Greystar’s and Macquarie Capital’s exclusive platform in the rental residential space in the Asia-Pacific region. Initial investment opportunities are being evaluated and anticipated to include assets in the Tokyo, Beijing, Shanghai, Sydney and Melbourne markets.

The proposed joint venture will combine Macquarie Capital’s deep relationships and proven track record in the region with Greystar’s rental housing expertise, making an attractive opportunity for Greystar to grow and enhance its presence in Asia-Pac.

“My original vision when starting Greystar in the early 1990s was to build a blue chip company that could help professionalize the rental housing industry for institutional capital in the US,” said Bob Faith, Founder and CEO of Greystar. “We view our opportunity in the Asia-Pacific as a natural extension of our original strategy and believe a partnership with Macquarie provides valuable regional experience and expertise. We intend to build the leading rental residential company within the major cities of the region.”

Chris Green, Global Head of Real Estate at Macquarie Capital said: “Macquarie Capital has a longstanding relationship with Greystar and we are very pleased to be working with Bob Faith and the high caliber Greystar team in expanding to the Asia-Pacific region. We continue to see deep demand from global institutional investors for multifamily and student accommodation real estate, and believe a combination of Greystar’s residential expertise and Macquarie Capital’s Asia-Pacific strength will be a successful platform.”

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