IN THIS SECTION: Articles of Interest | Photos of Current Projects

NEWS & VIEWS

BETHANY VILLAGE. PORTLAND, OR. PRE-LEASING AT A BRISK PACE
Just as soon as PSL was named and approved by HUD as the Management Agent for Laurel Parc at Bethany Village, it started pre-leasing. Response has been terrific, with many units already reserved. Laurel Parc is a 4 story, “new urbanism design” senior living community in Bethany village which includes 125 Independent Senior Apartments combined with 59 licensed assisted living apartments. Occupancy is projected to the March, 2009. www.laurelparc.com

VILLAGE GREEN OF GILROY, CA FILLS PHASE ON AND OPENS 100 UNIT PHASE II
Village Green of Gilroy, a Gated Continuum of Care Senior Living community in Gilroy, CA has filled its first phase of 61 unit assisted living /memory care community in record time and has opened Phase Two consisting of 100 deluxe retirement and assisted living apartments. The campus now consists of consisting of 76 “for sale” Cottages, a 75 unit Income Restricted Senior Apartments, 61 unit Assisted Living community with a memory care unit, and100 retirement apartments. www.villagegreengilroy.com

PSL ASSUMES MANAGEMENT OF EVERGREEN COURT, BELLEVUE, WA
PSL has been selected by D.A.S.H. Housing, a Bellevue Washington based Not for Profit Owner of quality affordable housing, to manage Evergreen Court, in Bellevue. Evergreen Court has 84 Independent Living Apartments and 30 licensed Assisted Living apartments. www.myevergreencourt.com

HAWAII HEALTH SYSTEM
Honolulu Hawaii has renewed its operating agreement with Paradigm Senior Living to operate its 114 unit assisted living community in Kahului, Maui. PSL has been involved with the project since 2000.

BOULDER CITY NEVADA TO GET NEW ASSISTED LIVING COMMUNITY
Vistas of Boulder city, a new assisted living community has broken ground. Boulder City's newest Assisted living community will offer 66 apartments including studio, one and two-bedroom apartment homes ranging from 450 to nearly 850 square feet; many with lake views. Reservations are being accepted now for occupancy in early 2009.Services and Amenities include full service dining, assistance with Medications, personal care, 24-hour onsite emergency call response, social lounges, library, theatre, fitness center, salon, and a crafts room.

"Boulder City has long been in need of a new high-quality housing and care option for seniors," says Lee Cory, president of Paradigm Senior Living, the marketing and operating company for Vistas. "This innovative senior living community will address the needs of area seniors at an ideal location on Ville Drive, less than a mile from town center just off highway 93.

COLORADO PROJECTS MAKING GREAT PROGRESS IN 2008
Predevelopment work has been completed, paving the way for 2007 project starts in Lafayette Colorado, Parker, and Erie Colorado. Legato Senior Living in Parker, and The Lafayette, in Lafayette, are 140 and 176 unit continuum of care communities respectively. The communities will feature Cottages and/or townhomes, Independent and Assisted Apartments and a secured memory care wing.

Additionally Apex Development OF Buena Vista CO has tapped PSL as its exclusive consultant in connection with the senior living component of its Master Planned mixed use project in beautiful Buena Vista.

PSL SELECTED TO MANAGE THE HILLCREST, LOVELAND COLODARO
Paradigm Senior Living has been selected to manage the Hillcrest a 40 unit Luxury Retirement residence, in Loveland Colorado. The project is presently in the process of expanding with an additional 40-50 units of assisted living.

CANYON PINES RAPID CITY SOUTH DAKOTA
PSL has been selected as the HUD Approved Management Agent for Canyon Pines of Rapid City a 133 unit rental continuum of care retirement community planned for Rapid City SD. Construction is scheduled to begin in late 2008. www.rccanyonpines.com

PSL OPENS DENVER OFFICE
In order to best serve clients in the Intermountain West, Texas, and the South, Paradigm Senior Living has opened an office at 1777 Larimer Street in Downtown Denver.

PSL TO MANAGE THE GLENMARY, MEMPHIS, TN
Gintz Group has announced that it will convert it two-building, 172-unit Midtown apartment complex at 1550 North Parkway into an independent- and assisted-living senior housing community.

Gintz Group also has sold the property for $19.5 million to Newport Beach, Calif.-based Nationwide Health Properties Inc., a publicly traded real estate investment trust (REIT). Under the new plan, Gintz Group will lease the property back from the new owner and contract with Portland, Ore.-based Paradigm Senior Living Inc. to manage the facility.

Paradigm president Lee Cory said the property's main building will house 123 independent-living units and 52 assisted-living units, while the smaller building, likely to be called the "Gardens," will have 28 assisted-living units that may be designated as specialty care for people with unique needs and additional supervision.
www.theglenmary.com

Other projects and markets currently in pre-development in the South include, Natchez MS, Brandon MS, Thibodaux, Metairie, and New Orleans LA, and multiple markets in Central FL.

TEXAS DEVELOPER BEUCLER PROPERTIES & PSL FORM PARTNERSHIP
Beucler properties has entered the Senior Housing market and partnered with Paradigm Senior Living to manage and market project that it plans to develop in TX, NM, CO, and select other US markets. Beucler Properties is a privately held commercial real estate investment firm utilizing value creation strategy within core U.S. markets. Beucler Properties core competencies include Multifamily, self storage, retail, medical office, land development, and redevelopment. BP presently has more than 30 projects in various stages of development with a total projected market capitalization of $500MM. www.beuclerproperties.com

MCKENNA VILLAGE UNDER CONSTRUCTION AND PRE-LEASING NOW!
Construction is well underway in New Braunfels, and the project has already pre-leased nearly 40% of its independent living apartments. PSL has been selected by McKenna Health System to provide marketing and management support for its new CCRC in New Braunfels TX. The campus under development includes 70 independent living apartments, and 46 assisted living Apartments, including a dedicated Memory Care wing. McKenna Village is slated to be ready for occupancy in early 2009. www.mckennavillage.org

PSL COMPLETES SEVERAL MARKET ANALYSIS PROJECTS
Throughout the US including multiple sites in CA, Maine, OR, NV, FL, WA, TN, MD, and North Carolina. Clients include both for profit developers as well as Hospital and Faith Based not for profit sponsors.

HEARTLAND DEVELOPMENT ENGAGES PSL
Heartland Development Company a Jackson, Mississippi based real estate development company has engaged PSL to complete market and financial feasibility analysis for multiple markets in Central Florida. HDC specializes in residential, commercial / retail, multi-family and senior housing developments. HDC’s portfolio consists of developments within Rankin and Warren County, Mississippi and Highlands County, Florida. The company’s focus is on strong growth markets and developing affordable communities tailored to the first time home buyer or retiree. www.hdcllc.us