2Life Communities has broken ground on Opus Newton, a 174-unit middle-income senior living development located on the Jewish Community Center Greater Boston campus in Newton, MA. The facility will feature a restaurant, café, art studio, classroom, and fitness spaces.
MassDevelopment has supported the project with $130 million in tax-exempt bond financing.
The community is 95% pre-sold, which according to non-profit organization 2Life Communities speaks to the “middle-market abyss” in which middle-income seniors can’t afford to live independently with market-rate options, but do not qualify for subsidized housing.
To maintain affordability, Opus leverages residents’ home equity and offers a range of apartments to accommodate different living styles and pricing needs. Rather than move residents to care, the model brings care to residents within their own apartments, supported by a team of care navigators, advocates and providers.
Opus Newton builds on 2Life Communities’ “aging in community” model, marrying affordable, independent living with a communal lifestyle. The model also incorporates resident-driven volunteerism alongside programming and amenities.
The post Upcoming Senior Community in Newton Addresses “Middle-Market Abyss” appeared first on Connect CRE.
2Life Communities has broken ground on Opus Newton, a 174-unit middle-income senior living development located on the Jewish Community Center Greater Boston campus in Newton, MA. The facility will feature a restaurant, café, art studio, classroom, and fitness spaces. MassDevelopment has supported the project with $130 million in tax-exempt bond financing. The community is 95% …
The post Upcoming Senior Community in Newton Addresses “Middle-Market Abyss” appeared first on Connect CRE.
Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.
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