It’s been a highly productive and fast-paced third quarter here at Vincent Companies.
We are excited to announce two key additions to our team. Sam Andrews, our new Director of Acquisitions, who will be instrumental in expanding our portfolio and drive profitable growth for our company. Additionally, Eric Stangler has joined us as the Director of Construction Management. Eric brings a wealth of experience and will play a pivotal role in advancing the development side of our properties. We are thrilled to have Sam and Eric on board as we continue to grow and strengthen our team.
We’ve had several new property developments in the past few months.
Avalon Apartments & Townhomes – Inver Grove Heights, MN: Major construction progress has taken place on the 190-unit apartment building and 54-unit townhome community at Diffley Road and South Robert Trail. The city has approved Avalon Apartment to open in two phases. Phase one is on schedule to open February 1st and Phase two opening in May of 2025.
Gateway Townhomes – Shakopee, MN: Construction began in late August on these 43 modern, high-quality rental townhomes off of Vierling Drive and Lincoln Street. This project is designed to meet the growing demand for affordable yet premium housing in the area. An official groundbreaking event will take place this fall.
Boden Senior Living – Maplewood, MN: On September 25th, we successfully closed on the acquisition of Elk Ridge Senior Living, which will now be known as Boden Senior Living. This fully constructed and occupied senior living community is under new ownership and will be managed by Lifespark, ensuring high-quality care for its residents.
Boden Senior Living – Coon Rapids, MN: Renovations are nearing completion following our acquisition of this pre-existing property. These improvements enhance the quality of life for residents, providing vital care and dignity to those who need it most.
Projects Coming Soon: We also have several new and upcoming projects in our pipeline. A market-rate apartment complex is slated to start construction in Prior Lake, MN, late 2025, expanding our presence in this growing community. Boden Senior Living of Inver Grove Heights is moving forward with land ownership and entitlements already secured. We are closely monitoring the construction costs and interest rate environment to determine the optimal time to begin building. Additionally, we have plans for another NorBella Senior Living community in Coon Rapids, MN. Beyond the Midwest, we are also embarking on new townhome and condo developments in South Florida, further diversifying our portfolio and footprint.
As of October 1st, Lifespark has become our exclusive partner for all senior living projects, including our NorBella properties. Over the years, our partnership with Lifespark has thrived, grounded in our shared values and vision for high-quality senior care. Lifespark’s unique culture and strategy, centered on strength, purpose, and belonging, benefit not only its residents and families but also its employees. This approach has been key to our joint success, consistently maintaining an impressive 94-95% occupancy in stabilized buildings while attracting and retaining top-tier staff. We are excited to continue growing together, delivering exceptional care and support to those who need it most.
Vincent Companies has recently partnered with a reputable firm to produce a brand anthem video that will enhance our educational resources. This project aims to provide a clearer understanding of our development selection process, the client experience, and our team’s vision and values. We look forward to sharing the final product with you soon!
Stay tuned for more updates on these significant milestones as we continue to grow and invest in communities through impactful development projects. We’re grateful for the continued and unwavering support of our project partners and our investors.
Discover the potential benefits of investing in local apartment buildings, senior living communities, and edge data centers. Build wealth, create income, and add diversification not related to the stock market.