Alliance, a national multifamily real estate firm, has tapped Dale Boyles to lead its new senior housing division. Boyles has extensive experience in senior housing from his previous role as VP of Emeritus/Brookdale Senior Living. His new role at Alliance will focus on growing the senior housing business through market analysis, product design, and partner relationships. Ocean Township in New Jersey is constructing a 93-unit affordable senior housing complex called Heritage Village at Oakhurst. The development will alleviate the long waitlist for affordable senior housing in the area. It is receiving over $15 million in funding from state and federal programs. Once completed, the project is estimated to generate over $36 million in economic activity and create

1. Senior Housing Beneath Development In Ocean
PHOENIX (March 19, 2015) — Alliance, the premier national multifamily acquisitions, development
and management firm, is increasing into senior housing and has tapped 20-12 months business
leader Dale Boyles to spearhead the hassle. Boyles comes from a long career in the senior housing
business, beforehand serving as VP with Emeritus/ Brookdale Senior Living, the most important
senior housing owner operator within the U.S. As Managing Director of Senior Housing, his new role
will deal with technique growth, market feasibility, product design and working associate
relationships for Alliance's initiatives on this new segment.
Township Supervisor Andrew Brannen mentioned
construction of the 93-unit, one- and two-bed room senior
reasonably priced housing improvement at 777 West Park
Ave. He stated the brand new complex would actually have
extra senior units than Poplar Village, which had been
subject senior housing development to repetitive flooding and
was ultimately demolished. If you happen to rely the
remaining units of Poplar Village, we have three senior
affordable housing complexes.
Brannen stated there may be already a ready listing for
inexpensive senior housing in Ocean, and while he still expects a wait checklist to exist, it is going to
be alleviated. The township secured a $three.three million grant from the Federal Emergency
Administration Agency (FEMA) in 2012 — along with a $4.four million grant accredited by FEMA in
2011 — for acquisition and demolition of 62 items in Poplar Village as a result of power flooding of
the positioning. The senior advanced is owned and managed by the Ocean Township Senior Citizen
Housing Corp. Facilities at Heritage Village at Oakhurst will include two elevators, an on-website
administration workplace and ample group house for residents.
The Home and Mortgage Finance Agency (HMFA), an affiliate of the NJ Division of Neighborhood
Affairs (DCA), helped fund the venture by awarding roughly $eleven million in Group Improvement
Block Grant Disaster Recovery funds via the Fund for Restoration of Multifamily Housing (FRM)
program. Also, the HMFA permitted the mission for four p.c federal Low Income Housing Tax Credit
as much as $6.four million over 10 years.
HMFA estimates that Heritage Village at Oakhurst, which
can cost roughly $23.1 million to develop, will generate
roughly $36.7 million in a single-time economic output and
create approximately 220 direct and indirect full-time jobs
and $1.3 million in state and local taxes during construction.
Once accomplished, the mission will continue to add value to
the group by providing greater than $four million in ongoing
financial output, 23 direct and oblique/induced full-time jobs annually, and roughly $231,000 in state
and native taxes.