Welltower and Hines will be developing Welltower’s first urban high rise senior care community in Manhattan.
I, for one, can’t wait to take a tour of Hines and Welltower’s high rise assisted living and memory care development right in the middle of midtown Manhattan. And while I’m at it, I could visit Maplewood Senior Living’s similar development a little more than a mile north on the Upper East side of Manhattan. The Welltower community will be 15 stories tall, which is unusual for seniors housing, but not for me. The CCRC I am most familiar with from personal experience has 25 stories and is located in Florida in a considerably less urban environment. Height was never an issue, other than during power outages. Although they have not disclosed expected rents at the Welltower development on East 56th Street, you can be sure they will be high. It will be a real test for the theory that the very wealthy, especially in cities such as New York, can stay in their apartments with all the help coming to them. It is quite possible that this community will be nearly sold out before opening because there just is not much supply in the market. Perhaps they will let us attend the ribbon-cutting.
