The owner/operator of a senior living community in Saginaw, Michigan is set to open a second location next month in nearby Hampton Township, at a cost of $13 million, or around $185,000 per unit. Founded by K. Rumi Shahzad and a team of 19 local investor/doctors, the Saginaw community has already expanded to include a 60-unit independent living community, and has a $15 million addition planned for its assisted living portion. So there is an apparent need. The investor group’s move into Hampton Township seems to be well founded, with 40% of the AL/MC units already preleased. In addition, there are plans to add independent living. Monthly rents at the new community are on the high side, ranging from $4,000 to $5,500 for assisted living, $5,500 to $5,900 for assisted living “plus,” and $5,000 to $5,900 for memory care. We will see how fill up goes.