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Twin Cities Senior Community Trades in $19M Deal The newly constructed 66-unit property north of downtown Minneapolis caters to residents 55 and over. Jan292021 Image courtesy of JLL The Estates at Arbor Oaks, a 66-unit suburban Minneapolis senior property, has changed hands for $18.8 million. JLL Capital Markets facilitated the disposition of the community designated for residents 55 and over. According to public records, an entity affiliated with Peak Capital Partners picked up the newly constructed property from its original developer, Arbor Oaks LLC, linked to Trident Development. JLL also assisted the buyer in obtaining acquisition financing. The seller purchased the 12.5-acre site at 1753 156th Lane NW in Andover, Minn., in 2016 for nearly $840,000, according to Anoka County records. Located roughly 22 miles north of downtown Minneapolis, the property is in proximity of Bunker Hills Regional Park. ....
154-unit senior housing development gets Ann Arbor council’s initial OK Updated Dec 22, 2020; Posted Dec 22, 2020 A rendering by Edmund London and Associates of the Lockwood of Ann Arbor senior housing facility proposed on Ellsworth Road.Edmund London and Associates Facebook Share In a 10-0 vote, council gave a rezoning proposal for the development its initial OK. The project now awaits final approval Jan. 19, when there will be a public hearing before council takes a vote. Southfield-based Lockwood Development Co. is asking council to rezone a 7.2-acre property at 2195 E. Ellsworth Road from single-family residential to a planned unit development (PUD) district, and proposing a three-story, 168,130-square-foot building with 154 independent senior apartments. ....
New development could bring 154 senior citizen apartments to Ann Arbor Updated Dec 20, 2020; Posted Dec 20, 2020 The new Lockwood of Ann Arbor development site at 2195 E. Ellsworth Road, just east of Stone School Road, in southeast Ann Arbor.City of Ann Arbor Facebook Share ANN ARBOR, MI It’s been 21 months since City Council voted 6-5 to reject plans for a senior housing development opposed by neighbors on Jackson Road. A new version of the Lockwood of Ann Arbor project proposed on a new site on Ellsworth Road is now going before a new City Council Monday night, Dec. 21. Southfield-based Lockwood Development Co. is asking council to rezone a 7.2-acre property at 2195 E. Ellsworth Road from single-family residential to a planned unit development (PUD) district, and proposing a three-story, 168,130-square-foot building with 154 independent senior apartments. ....