Willamette View To Build Skyline Senior Housing Near Milwaukie

Senior housing provider Willamette View plans to break ground in September on a 92-unit independent living building on its campus near Milwaukie.

Todd Construction is engaged to build the eight-story facility, named Skyline, which is being designed by Ankrom Moisan. Construction is expected to cost approximately $90 million.

Ground is expected to be broken in late September, after bonds are issued. Completion is expected in December 2028.

“Oregon’s population is aging, and demand for high-quality senior housing continues to grow,” Willamette View CEO Craig Van Valkenburg stated in a news release. “Communities like Skyline help meet that need while creating a positive ripple effect throughout the housing market. When older adults have attractive options that fit the way they want to live, it creates movement that ultimately benefits families across our region.”

The 236,000-square-foot Skyline building will replace the smaller 24-unit Plaza building, which dated to the 1960s and was recently demolished to make way for the new project. Skyline will have 74 underground parking spaces and 22 surface spots.

The need for the independent living facility was first identified in a strategic planning process that began in 2010. It was followed by facilities condition assessments in 2015 and ’19.

For Van Valkenburg, Skyline is a long-term commitment.

“We look at it as a 50-year investment that we’re going to hang onto as part of our campus,” he said in an interview.

Willamette View has approximately 27 acres of contiguous land on its campus on the east bank of the Willamette River, and another 3-5 acres across River Road that is home to independent-living duplexes. The campus is in unincorporated Clackamas County, and it has a Portland address, but it’s closest to Milwaukie. Willamette View also shares a property line with RoseVilla — another senior living community.

Van Valkenburg said he doesn’t view RoseVilla as the competition.

“It’s more your own home that we compete with,” he said.

Only about 4 percent of the eligible market ends up choosing senior housing such as Willamette View, he said.

Skyline is advancing even as many private-sector developments stall. Van Valkenburg noted that Willamette View already owns the site and can take advantage of state and federal tax exemptions on interest income.

“Financing is advantageous,” he said.

Market fundamentals for senior housing continue to indicate strong demand with 20 consecutive quarters of occupancy growth by the end of 2025, according to Cushman & Wakefield. Rents increased by 4.7 percent last year.

Senior housing providers are experiencing strong demand as the baby boomer generation ages, with the oldest now in their early 80s and the youngest in their early 60s. The population of seniors aged 75 or older is expected to grow by 11.7 million from 2024 to 2034, according to Census Bureau estimates.

Willamette View houses approximately 515 residents, with an average age of 77. The average age at move-in is around 73 to 75 years old, Van Valkenburg said. Willamette View offers a continuum of care, from independent living up through skilled nursing and memory care. Amenities include a large restaurant, a coffee shop, a swimming pool, a gym and other facilities.

Residents at Skyline will pay an entrance fee that varies from $430,000 to $844,000, and monthly fees of $6,356 to $8,880.

Willamette View recently received an investment-grade BBB- rating from Fitch as it prepares to sell bonds.

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