Two developers—Grace Assisted Living and Peter Candy—have committed $8 million and $10 million, respectively, to build new senior facilities in Twin Falls, Idaho. Twin Falls, about 100 miles southeast of Boise, is the state’s seventh-largest city (pop. 45,000) and the fastest-growing city in south-central Idaho. The combination of an aging population—about 20% of local workers are 55 or older—and a shortage of retirement facility options made Twin Falls attractive to the two developers.
Grace Assisted Living, based in Boise, is investing $8 million in a 78,000 square-foot, 85-unit assisted living facility that is expected to open in spring 2015. Grace Assisted Living currently operates 16 assisted living facilities throughout the Northwest, with four in Idaho—including one that opened in the city of Eagle, a suburb of Boise, just this month. The Twin Falls facility will be #17.
Ketchum-based Peter Candy and his group of investors have begun offsite improvements prior to a planned December groundbreaking on a $10 million, 70-unit CCRC called Canyons Retirement Community. The new community will have 20 independent living cottages, 30 assisted living units, and 20 memory-care units for people with memory problems from both health- and accident-related causes. The CCRC is expected to open in November 2015. TanaBell Health Services, based in Pocatello, and McCall Rehabilitation of McCall, Idaho, will operate the new facility.
Twin Falls is the location of the College of Southern Idaho and, perhaps notably, the site of the largest Chobani Greek-style yogurt factory and distribution center in the United States—a source of revenue for Southern Idaho dairymen valued at about $300 million per year and, of course, one of the drivers of the city’s economic growth. Both new senior facilities will be located in close proximity to St. Luke’s Magic Valley Medical Center in Twin Falls.
