South Portland land acquired for Florida senior living company’s first project in Maine
Courtesy / EGA Architects
This rendering shows the 116,000-square-foot assisted living and memory care facility in the works at 165 Running Hill Road in South Portland.
A 116,000-square-foot, three-story assisted living and memory care facility is in the works at 165 Running Hill Road in South Portland, with an anticipated opening in summer 2021.
Confluent Development LLC bought the 6.27-acre property from Running Hill Real Estate Development LLC for $2.6 million.
Greg Perry and Matt Cardente of Cardente Real Estate represented the seller in the deal. Karen Rich and Cheri Bonawitz of Malone Commercial Brokers, along with Jeffrey Hyman from Colliers International, represented the buyer. The transaction closed Jan. 27.
The development is a project of Confluent Senior Living and Harbor Retirement Associates. The groundbreaking of the facility, called HarborChase, was in February.
Expanding footprint
Confluent Senior Living, a subsidiary of Denver, Colo.-based real estate investment and development firm Confluent Development, is the project’s owner. Harbor Retirement Associates is a senior living development and management company based in Vero Beach, Fla., and will manage HarborChase, according to a news release. The two are co-developers.
The property is located at the entrance of the Sable Oaks Executive Park, where Atlantic Federal Credit Union last month bought a Class A office building to become its new headquarters.
“Expanding our footprint in New England has been a long-term goal for our team, and we are deeply invested in providing a positive impact in the South Portland community through this development,” Marshall Burton, president and CEO of Confluent Development, said in the release.
HarborChase will be the partnership’s eighth project together. The partnership has two other HarborChase developments under construction in South Windsor, Conn., and Princeton, N.J., and operates communities in Wilmington, Del., and northern Virginia.
EGA Architects in Newburyport, Mass., is the architect on the South Portland project. Whiting-Turner Contracting Co. in Marlborough, Mass., serves as general contractor. Sebago Technics Inc. in South Portland is the project’s civil engineer and senior living design firm Thoma-Holec Design of Mesa, Ariz., will provide interior design services.
Hospitality model
The facility will provide licensed nurses and a 24-hour care staff, concierge service, housekeeping service, scheduled daily transportation, multiple restaurants, a bar and lounge with sunroom, club room, classrooms and activity room, fitness and wellness center, barber and beauty salon and other amenities.
“Over the years, we’ve seen a shift to residents seeking unique amenities and a service-oriented hospitality approach to senior living,” Confluent’s managing director, John Reinsma, told Mainebiz.
The facility will offer 83 assisted living and 40 memory care apartments in one- and two-bedroom configurations. Nearly half of the assisted living apartments will offer a private balcony or patio. Memory care residents will be in a single-story building with access to a self-contained secure outdoor amenity space to accommodate group activities.
Project costs were not disclosed. It is being financed by a mix of equity and traditional construction lending, he said.
Expanding into New England has been a long-term goal “and we have been evaluating opportunities within the region for several years,” Reinsma said. “We are very intentional about our site selection process, and we spend significant time learning about and immersing ourselves into a new market to ensure we feel confident we are a strong fit to help fulfill a community need.”
Site selection begins with a desktop study to evaluate market and site demographics, followed by time in the market to understand nuances such as "path of growth," Reinsma said.
"Path of growth" refers to the alignment of product with the market, according to business2community.com.
'Top-tier' rates
The site was primarily an undeveloped, forested lot. It was attractive for its spacious six acres, and proximity to the Greater Portland customer base as well as local amenities, he said. The site is half a mile from the Maine Mall and four miles from downtown Portland.
When fully occupied, it’s expected HarborChase will employ 90 to 100 full- and part-time associates, said Charlie Jennings, Harbor Retirement’s chief development officer. Recruitment strategies include extensive training, recognition programs and benefits/compensation packages, he said.
Lease rates for the facility aren’t yet finalized and will be determined closer to the project’s opening, he said. The focus is on “top-tier rates,” Harbor Retirement CFO Chris Collins told Senior Housing News last November.
“We are seeing strong demand in South Portland for quality senior living options,” said Reinsma. “Portland has an aging and growing population, and we aim to provide the opportunity for residents to be able to remain near the place they’ve called home, or near their adult children and loved ones.”
HarborChase facilities are located in Oklahoma, Texas, Tennessee, Alabama, Illinois, Wisconsin, Ohio, Florida, South Carolina, Virginia , Delaware and New Jersey.
Harbor Retirement and Confluent have another HarborChase facility under construction in South Windsor, Conn., scheduled to open this December, according to the Hartford Business Journal.
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Maine and Portland areas are in serious need of additional "skilled nursing" homes as well. Would be great if additional care could be part of this attractive project.
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