Seniors Housing Business
SHREWSBURY, MT. LAUREL and MORRIS PLAINS, N.J. — Capitol Seniors Housing (CSH), a senior living investment and development firm based in Washington, D.C., has completed construction of Arbor Terrace Morris Plains, an 82-unit assisted living and memory care community in Morris Plains. In addition, the company announced plans for two new communities in Shrewsbury and Mt. Laurel.
CSH acquired the land last week for Chelsea Senior Living of Shrewsbury, a $29.3 million, 73,000-square foot, 85-unit assisted living and memory care community in Shrewsbury.
The company also plans to break ground on Arbor Terrace Mt. Laurel within a month. The $28.4 million, 75,000-square-foot community will have 88 units of assisted living and memory care.
Both new properties are scheduled to break ground within a month for completion in third-quarter 2018. With the two new communities, this makes four seniors housing properties currently under development by CSH in New Jersey. Arbor Terrace of Mountainside is slated to open in Spring 2018.