Seniors housing construction is still alive these days, as evidenced by the press releases we continue to get of projects breaking ground or even opening for business. We’re sure lease-up projections have changed, and a lot more developments were put on pause. We wonder if any design changes have been or will be implemented to account for potentially months (maybe years) of social distancing practices too. But we’re glad to see the activity.
Leo Brown Group was one firm to announce the ground breaking of a new seniors housing development in Lebanon, Ohio (Cincinnati MSA). Featuring 146 units of independent living, assisted living and memory care, the community is located just a mile from downtown Lebanon. There will also be plenty of amenities, from multiple choices of dining and outdoor gathering areas to a theater room, fitness center and beauty salon/barber, among others. Independent living residents will also have access to their own dedicated clubhouse with a fitness center and multipurpose gathering space. Leo Brown Group will operate the community through its management company affiliate, Traditions Management, under the Traditions brand. The project is expected to cost $35 million, or around $240,000 per unit.
The developer is also close to opening its 117-unit Traditions at North Bend (also Cincinnati MSA) assisted living/memory care community in July (at a cost of $20 million, or $170,000 per unit) and should open its 129-unit Columbus, Indiana project in the first quarter of 2021.
