In partnership with Columbia Pacific Advisors, we are excited to announce that we’ve secured an $80 million construction loan for our upcoming 200-unit senior living project in San Jose, California!
Novelle Senior Living will be a 4-story project located off Almaden Expressway and will feature 195 units (166 Assisted Living and 29 Memory Care). The Assisted Living Units include 35 studios, 97 one-bedroom units, and 34 two-bedroom units. The project will have 115 surface parking stalls and the amenities will include a full-service restaurant, landscaped courtyards, dining, bistro, theater, wellness center, salon/barber shop and activity room.
This 3.5 acre senior housing project will replace a 44,500 square foot office and retail center that has been demolished to clear the way for construction of the new facility. Construction is scheduled to begin in February.
This project will offer additional high quality senior housing to the San Jose market to help serve the demand in this growing space.