FOR IMMEDIATE RELEASE
The second co-development for PMB and The Springs Living, the new 225-residence, 329,250 square-foot community responds to growing gap in modern senior housing on the Eastside
ISSAQUAH, Wash. and SAN DIEGO, Calif., June 10, 2026 – PMB, a leading healthcare real estate developer, joined The Springs Living and local leaders to celebrate the groundbreaking marking the commencement for The Springs Living at Issaquah Highlands. The ceremony was not simply about breaking ground on a new senior living community, it was about celebrating a vision that senior living should be designed to create belonging through care, community and culture, and that investing in people is fundamental to delivering it.
The second co-development between The Springs Living and PMB, The Springs Living at Issaquah Highlands is a 329,250 square-foot, 225-residence senior living community. As the first for The Springs Living in the Seattle region and its 24th community overall, the project responds to the growing pressures across housing, aging, and workforce, and fills a clear gap in the Issaquah market with a more modern, integrated approach to how people want to live as they age.
The five-story community, located in the Issaquah Highlands near Gateway Park and adjacent to Swedish Issaquah Medical Center, is expected to open in late 2028 and will create hundreds of local jobs across caregiving, culinary, hospitality, and operations roles, with a focus on building long-term careers through investment in people and culture.
The new community is designed to reflect the character of the Issaquah Highlands and its walkable access to parks and trails. It will include 225 residences across a full continuum of care, offering 114 Independent Living, 84 Assisted Living, and 27 Memory Care apartments. The community’s location adjacent to Swedish Issaquah reflects The Springs Living’s long-term vision for deeper integration with healthcare systems, creating greater alignment between housing, care, and access to services over time.
“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. Our residents choose our communities for the quality of life they enable.” – Bill Jencks, Partner and EVP at PMB.
“This is truly an exciting moment for PMB and The Springs Living,” said Jake Rohe, Managing Partner and President of PMB. “This project is a testament to the strength of the partnership between PMB and The Springs Living. I believe that the development process itself is a place to cultivate relationships and durable partnerships and The Springs Living represents just that. PMB is a company that is defined by our impact, and this new senior living community is more than a new development; the project represents an investment in housing, jobs, and community infrastructure.”
This groundbreaking is a representation of PMB’s commitment to developing projects across the continuum of care. In addition to the $600 million in senior living projects it has developed, PMB has also developed $6.5 billion in medical outpatient, post-acute and behavioral health projects.
“Strong partnerships are at the core of PMB’s approach, and we are proud to continue our work with The Springs Living, Harrison Street, and Huntington National Bank on The Springs at Issaquah Highlands. 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. We believe The Springs at Issaquah Highlands will be a meaningful addition to Issaquah, creating employment opportunities, expanding senior housing options, and providing residents with a vibrant place to call home.”
The full partnership team includes The Springs Living as Co-Developer, PMB as Co-Developer, Harrison Street Asset Management, Huntington National Bank, BOK, MVB, First National Bank Alaska, and Northwest Bank as Financing Partners, Exxel Pacific as General Contractor, and Mackenzie and GBD Architects.
About PMB
PMB is a purpose-driven healthcare real estate developer with a mission to improve healthcare delivery, effect change, and positively impact communities. Our company is 100 percent focused on healthcare real estate across the continuum of care including senior living communities, behavioral health, life sciences, ambulatory care centers, medical outpatient buildings, inpatient hospitals, post-acute hospitals, and parking structures. PMB has developed over 130 facilities to date representing approximately 6.5 million square feet. The firm owns and manages 70 medical facilities comprising over 5.2 million square feet. For more information, please visit our website at www.pmbllc.com.
News Media Contact: Heather Williams, Head of Brand Marketing, PMB, 858.794.1900, HWilliams@pmbllc.com
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