Construction on an 80-bed assisted-living center in Lee’s Summit is expected to begin next month, one of four senior housing projects planned for the Kansas City area by Hunt Midwest Real Estate Development.
The four projects represent a total $32 million investment by Hunt Midwest and its partner, Atlanta-based Principal Senior Living Group. The Lee’s Summit project at U.S. 50 and Todd George Road has the same design as another senior development that broke ground last month called Benton House at Shoal Creek.
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Both projects are scheduled to open next spring. Two additional senior developments with the same layout also are planned and would open in late 2013.
Ora Reynolds, president of Hunt Midwest Real Estate, said Principal Senior Living has developed similar projects throughout the southeastern U.S. The prototype project is a 40,000-square-foot facility on a 5½-acre site with 59 rooms configured in a figure eight around two courtyards.
Three-fourths of the center is set aside for assisted-living residents; the rest is reserved for memory care or Alzheimer’s patients. Leases for the apartment-style suites range from $3,000 to $4,500 a month and include three daily meals and staff care.
“With the aging population and our residential housing experience, it made perfect sense that we invest in the senior housing market and, more specifically, in the higher level of care needed for assisted living and memory care,” Reynolds said.
The project design is ideal for construction in fast-growing suburban areas, she added.
“Research shows that adult children want their aging parents nearby,” Reynolds said, “and the 75 and older population is projected to grow dramatically over the next 10 years.”
This is Hunt Midwest’s first venture into senior housing. The company, which is owned by the Lamar Hunt Family, is known for its management of SubTropolis, an underground storage and commercial operation, and developing commercial, retail, industrial and residential properties.
Hunt Midwest had set aside locations for senior housing in the design of their residential developments but held off on construction until forging the partnership with Principal Senior Living. The Benton House project is part of the Benson Place planned residential community in the Northland.