Empire Group of Companies and Brinkmann Constructors have broken ground on The Osborn, a high-end senior living community in Old Town Scottsdale. The 226-unit, 420,000-square-foot project will deliver a full continuum of care, from Active Adult to Memory Care.
Offering 118 active adult units, 74 independent/assisted living units with full kitchens, and 34 memory care units, The Osborn also includes ground-floor retail and restaurant spaces that welcome residents and the broader community.
Resident-focused amenities will include a theater, chapel, salon, art studio, casual and upscale dining, an elevated fitness center, a secluded activity deck with an outdoor pool, BBQs, communal areas, and a rooftop deck with panoramic views. An upper-story indoor-outdoor lounge and numerous social spaces aim to foster connection, creativity, and wellness.
Gensler designed the Osborn in collaboration with Douglas Sydnor Architect & Associates, and Brinkmann Constructors, the general contractor, is building it.
Cogir Management USA will operate the community. Leasing is anticipated to begin in Fall 2026.
Multifamily owners with loans coming due are faced with higher refinancing costs. While this isn’t news, Newmark put numbers to the issue, indicating that loans maturing in Q3 2026 carried an average interest rate of 4.04%, compared to 5.69% on new loans at an average cap rate of 5.5%, resulting in negative leverage. At the...
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An increase in mortgage rates is cooling home sales, with multifamily the biggest beneficiary, according to John Chang, senior vice president at Marcus & Millichap. In a recent video, Chang said that the 10-year Treasury has risen by more than 100 basis points, and the 30-year mortgage rate is up about 130 bps to the...
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The city of Revere is eying a large redevelopment plan that would create 1,700 new affordable and market-rate homes about five miles northeast of downtown Boston. The Revere Housing Authority presented a proposal to the Revere City Council last week requesting a zoning change that would allow for development on a 40-acre site at Cooledge...
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