PMB, in a joint-venture RIDEA structure with seniors housing operator, Gencare Lifestyle, secured the exclusive rights to seniors housing in the waterfront resort-inspired village of Point Ruston on the southern edge of the Puget Sound. The mixed-use development is on a federally-designated EPA superfund site and has been going through remediation efforts for over 30 years. Point Ruston started its development in 2008 and will be completed with over 2,000 residential units, 600,000 SF of retail and commercial offerings and an upscale 175 room hotel. PMB initiated a two-part land and building condominium structure to finance its 144,000 SF development consisting of 159 residential units including independent living, assisted living and memory care units.
144,000 SF, 6 floors
PMB led the integration between the Gencare Senior Living program and MultiCare Healthcare to develop an integrated healthcare experience.
Independent & Assisted living, Memory Care, Dining & Full Kitchen, Pool & gym, Movie theater and Ophthalmology