Charlie Jennings Joins Foundry Commercial To Lead Senior Living Development

Foundry Commercial recently announced that Charlie Jennings has joined the firm as a Deal Principal focused on sourcing, capitalizing, and executing senior living development opportunities nationwide. The addition bolsters one of the most experienced senior living development teams in the country, combining deep individual track records with the scale and stability of Foundry’s fully integrated operating platform.

Jennings brings more than 20 years of senior living development experience to Foundry, having overseen more than $1.2 billion in development projects throughout his career. His expertise spans the full development lifecycle, including site acquisition, entitlements, design coordination, capitalization, construction management, and operational transition.

A civil engineer by training and veteran of the United States Marine Corps, Jennings began his career in homebuilding and multifamily development before transitioning into senior housing in 2006. Most recently, he served as Chief Development Officer at Harbor Retirement Associates, where he led new development initiatives and strategic repositionings across the company’s portfolio.

During his tenure, Jennings helped shape a hospitality-driven senior living product designed to meet the expectations of a new generation of residents, while maintaining a disciplined focus on execution, efficiency, and long-term value creation.

“Charlie is exactly the kind of experienced, passionate development leader that this moment in senior living calls for,” said Pryse Elam, President of Foundry’s Development & Investments platform. “His track record speaks for itself, and he is joining us at exactly the right moment. We couldn’t be more excited to have him on the team.”

Jennings joins a Foundry senior living platform that has grown substantially in recent years. Through its affiliated management company, Allegro Living, Foundry now oversees 62 communities across 14 states, encompassing approximately 5,000 units. The platform’s reach spans acquisitions, third-party management, and now development, a combination that positions Foundry as a fully integrated force in senior housing. Over the past five years alone, Foundry has acquired 41 senior living communities, and its operating workforce now numbers more than 4,000 people – a  platform depth that few seniors-focused firms can match.

What distinguishes Foundry’s senior living development effort is the collective experience behind it. The firm’s development team has collectively overseen the development of 72 senior living communities, a combined track record that places this group among the most seasoned in the country. Foundry further strengthened its development credentials through its acquisition of Allegro, which brought with it a proven track record of 11 developed communities valued at more than $400 million. That history, paired with Foundry’s active acquisition platform and its vibrant day-to-day operating presence, offers a rare and powerful combination: the entrepreneurial agility of a dedicated development team anchored by one of the sector’s most established operational platforms.

Jennings’s arrival deepens the firm’s development capabilities at a moment when demand for new product is accelerating sharply. Industry fundamentals continue to strengthen, with occupancy and operating margins rebounding post-pandemic, new construction starts near historic lows, and the 80-plus population projected to nearly double over the next two decades.

“The senior living industry is entering one of the most compelling development environments we’ve seen in decades,” Jennings said. “Foundry has built an exceptional platform with strong operational capabilities, institutional relationships, and a long-term vision for growth. I’m excited to help expand that platform and deliver communities that serve the next generation of seniors.”

Jennings holds a degree in Civil & Infrastructure Engineering from George Mason University and has been actively involved in several industry organizations, including DSA Developers Collective, Society for the Advancement of Gerontological Environments, and Environments for Aging (EFA) Design Showcase.