Laguna Grove Care, SF
Laguna Grove Care is a ground-up development project providing 56 beds of assisted living, including a memory care program. The licensed community also provides a hospice program that was initiated in partnership with the Zen Hospice Project in San Francisco. The development involved the demolition of two adjacent buildings, a lot merge and re-entitlement with the San Francisco Planning Department. The project was approved for an enclosed rooftop garden to create additional space for residents and a full floor below grade to house services including a commercial kitchen, laundry area, and sidewalk elevator lift. The project was funded through a private offering memorandum and conventional construction-to-permanent financing. The community was sold as part of a $29.9m portfolio to a not-for-profit using tax-exempt bond financing.