The Hearthside is a 160-unit independent senior living community located in Portage, MI, a desirable suburb of the greater Kalamazoo area. The location offers convenient access to healthcare, retail, and major thoroughfares, making it an attractive setting for senior residents.
Originally constructed in 1991 and renovated with LIHTCs in 2011, the community features a mix of one-story walk-up buildings and two-story apartment buildings in a neighborhood-style setting. The buildings are well-maintained and situated across a site with abundant green space, creating a tranquil, park-like environment.
The property includes 128 LIHTC-restricted units and 32 market-rate units and is currently operating at near full occupancy. With in-place rents below market levels, The Hearthside presents an opportunity for continued rent growth and operational upside.
The Hearthside offers investors a stable, income-producing senior housing asset with long-term upside potential in a strong and growing market.