A mixed-use development project in the Pacific Northwest called Hyas Point in Washougal, Washington, is set to include a senior living community alongside an athletic club and public amenities. Led by RKm Development based in Portland, Oregon, the project aims to create a “multi-generational, mixed-use, integrated living” environment, according to Channa Kim, Director of Special Projects and Development at Central Bethany.
The first phase of construction will involve the addition of streets, four buildings with 276 apartments, and 56,000 square feet of retail space, with plans to commence later this fall. The senior living community and athletic club will be part of the second phase of development.
The senior living component will feature a six-story center on a 200,000-square-foot parcel, offering 183 units for independent living, assisted living, and memory care. Amenities include a library, multiple kitchens, designated activity spaces, and access to public-facing amenities in the area. Additionally, a full-service restaurant within the senior living community will be open to the public.
The athletic club, inspired by the Bethany Athletic Club in Portland, will span 96,000 square feet and include a basketball court, indoor pool, locker rooms, tennis courts, pickleball courts, and a weight room.
Despite recent challenges in senior living development financing, interest rate relief may encourage capital partners and operators to re-engage. The rise of mixed-use projects, particularly intergenerational concepts, presents a promising path forward for providers in the industry.
