PMB & The Springs Living Tackle Senior Housing Gap with Issaquah Project

ISSAQUAH, WA – June 10, 2026 – In a significant move to address the Seattle area's mounting demand for modern senior housing, healthcare real estate developer PMB and operator The Springs Living have broken ground on a new 225-residence community in the Issaquah Highlands. The project, named The Springs Living at Issaquah Highlands, represents a major strategic investment in the region's elder care infrastructure and highlights a growing trend towards integrated, lifestyle-focused senior living.

The groundbreaking ceremony marked the official commencement of the 329,250-square-foot facility, the second joint venture between the two companies. More than just a construction milestone, the event underscored a shared vision for senior living that prioritizes community, integrated care, and a direct response to the demographic pressures shaping King County's housing and healthcare landscape.

Addressing a Critical Need in a Booming Region

The development arrives at a critical juncture for Seattle's Eastside. According to regional demographic data, King County's population aged 60 and over is projected to swell by 44% between 2020 and 2040. The most dramatic increase is anticipated in the 85-and-older cohort, which is expected to surge by an astounding 175% in the same period. This demographic wave is placing immense pressure on the existing housing and caregiving systems, creating what the developers identify as a clear “gap in the Issaquah market” for modern senior living options.

The Springs Living at Issaquah Highlands is engineered to fill that void. The five-story community, slated for completion in late 2028, will offer a full continuum of care designed to allow residents to age in place. This includes 114 independent living apartments for active seniors, 84 assisted living units for those needing daily support, and 27 specialized memory care residences. This multi-level approach directly caters to the evolving needs of an aging population, providing stability and consistent care within a single community.

Beyond housing, the project promises a significant economic infusion for Issaquah. The facility is expected to create hundreds of permanent local jobs in caregiving, culinary services, hospitality, and operations. This aligns with The Springs Living’s stated focus on investing in people and building long-term careers, which will be a welcome addition to Issaquah's robust local economy.

A Partnership Forging Integrated Senior Care

This project is the product of a strategic partnership that pairs PMB's extensive experience in healthcare real estate development with The Springs Living's established reputation as a premier senior living operator. PMB, a San Diego-based firm, has a portfolio of over 130 developed facilities and manages over 5.2 million square feet of healthcare real estate, demonstrating a deep specialization across the care continuum. Their developments include not only $600 million in senior living projects but also $6.5 billion in medical outpatient, behavioral health, and hospital facilities.

The Springs Living, founded in 1996, operates 20 communities across the Pacific Northwest, with the Issaquah location marking its 24th community overall and its first foray into the competitive Seattle market. The partnership’s prior success with The Springs at The Waterfront in Vancouver, Washington—a 250-unit community completed in 2024—serves as a powerful blueprint for this new venture.

“This project is a testament to the strength of the partnership between PMB and The Springs Living,” said Jake Rohe, Managing Partner and President of PMB. “I believe that the development process itself is a place to cultivate relationships and durable partnerships and The Springs Living represents just that. This new senior living community is more than a new development; the project represents an investment in housing, jobs, and community infrastructure.”

The collaboration extends to a robust team of financial and construction partners, including Harrison Street Asset Management, Huntington National Bank, and general contractor Exxel Pacific, signaling strong institutional confidence in the project's vision and viability.

Redefining Aging: Beyond Traditional Retirement Homes

The Springs Living at Issaquah Highlands exemplifies a broader strategic shift in how senior housing is conceived and executed. Moving away from the isolated models of the past, this community is designed for connection, wellness, and integration with the surrounding neighborhood. Located in the walkable Issaquah Highlands, with access to parks and trails, the design aims to reflect the local character and encourage an active lifestyle.

A cornerstone of this modern approach is the community’s strategic location adjacent to the Swedish Issaquah Medical Center. This proximity is a key element of The Springs Living's long-term vision for deeper integration with healthcare systems, creating a seamless link between housing and medical services. For residents, this means convenient access for routine appointments, chronic care management, and, crucially, rapid response in case of emergencies—a feature that provides significant peace of mind for both residents and their families.

“PMB's partnership with The Springs Living is purpose-built to elevate communities for older adults through design that inspires connection - creating a vibrant, relationship‑rich environment rooted in the local community fabric,” noted Bill Jencks, Partner and EVP at PMB. “Our residents choose our communities for the quality of life they enable.”

This philosophy is evident in the planned amenities and services, which are designed to foster a sense of belonging and purpose. By combining high-quality housing with comprehensive care and direct access to a major medical center, the project is not just building residences but creating a supportive ecosystem for its future inhabitants. It reflects a market that is increasingly catering to the expectations of a new generation of older adults who seek vibrant, engaging, and secure living environments.

As one executive involved in the partnership stated, “Building on the success of The Springs at The Waterfront, this project reflects our shared commitment to delivering thoughtfully designed communities that support older adults and enhance the neighborhoods they serve.” With its focus on integrated care, community connection, and economic contribution, The Springs Living at Issaquah Highlands is poised to become a meaningful addition to the Eastside, setting a new standard for senior living in the region.