Excerpted from Senior Housing News | August 13, 2015 | Jason Oliva
Zenith Capital, a company that provides alternative financing for the senior housing industry such as EB-5 funding, is teaming up with Federal Way, Wash.-based Village Concepts to build a new 100-unit, $25 million assisted living and memory care facility in Seattle.
The Linden Village Assisted Living Community will be constructed at 13524 Linden Avenue North in north Seattle’s Bitter Lake neighborhood.
The community will offer 79 units of assisted living in studio, one- and two-bedroom floor plans; and 21spaces available in the building’s memory care wing. Amenities include a rooftop deck, entertainment center, medication management and full meal plans available to residents.
Zenith Capital is overseeing development and financing of Linden Village, while Village Concepts is the operator. The architect is Innova, a Wash.-based firm with offices in Tacoma and Mercer Island.
The EB-5 immigrant investor visa program will provide a portion of the project’s overall financing.