Seniority Inc. and Seattle-based Zenith Capital announced Thursday their plans to built a new $23.5 million, 98-unit assisted living and memory care community in Covington, Washington.

Covington Assisted Living and Memory Care Community will be located at 17006 SE Wax Road in Covington. It’s 98 units will include 64 for assisted living and 34 for memory care.

Construction will begin on the three-acre development parcel in the second quarter of 2016, with an anticipated opening slated for summer 2017.

When completed, Seniority, which is a wholly-owned subsidiary of ABHOW, will operate the facility. A portion of the project’s overall financing will come from the U.S. Government’s EB-5 immigrant investor program. There will also be additional equity partners investing into the project as well.

Senior Housing News | September 3, 2015 | Jason Oliva