Harrison Street and Harbert South Bay Start Senior Housing at 861 E. Walnut St. in Pasadena

Harrison Street Asset Management and Harbert South Bay have announced a joint venture to bring a new senior housing complex to Pasadena. Called The Palmer, the project is planned at 861 E. Walnut Street and calls for a six-story building of roughly 83,000 square feet. The plan includes 68 assisted living units, 26 memory care units and basement parking.

VTBS Architects is the design firm, and renderings show a contemporary podium-type building. According to a company news release, amenities will include several dining areas, shared outdoor spaces, golf simulators and a rooftop pool deck.

Construction is expected to start this month and finish by September 2028. W.E. O'Neil is the general contractor. The same partnership also announced a second senior project in Potomac, Maryland.

Harbert South Bay's chief executive, Patrick McGonigle, described Pasadena and Potomac as benchmark luxury, Class A assets. The firm says it is developing more than 800 units across these two projects and other developments in Irvine, Northern California and Dallas.

For developers and lenders, this is a sizable assisted living and memory care deal with a fixed delivery window, so entitlement and permit status for the site should be confirmed early.