Rental unit prices not set yet for senior apartments in 2008
By Dan McLeister
for The Elmhurst Independent
Ground will not be broken until sometime this summer for the independent
living apartment units for seniors on part of the former site of
Bailey’s Restaurant. Occupancy is expected to occur in 2008.
__________________
“Typically there is better food quality than
what is provided in other types of senior housing.”
____________________ |
But thirteen people have signed up with a refundable $1000 deposit
for floor plans yet to be finalized for the two stories of apartments
above a ground floor with a restaurant and retail space near the
northeast corner of Third and Addison.
There will be three to four different styles of one- and two-bedroom
units to be shown in an office to open later this year in the downtown.
Presentations have been made at several locations in Elmhurst to
prospective renters who have been attracted by direct mail campaigns
and advertisements in local newspapers.
Prices will not be set until March or April, according to Heidy
Montgomery, marketing director for the development which is called
Elmhurst Pointe (www.elmhurstpointe.com). The project will have two
methods of payment for the rental units: an entrance fee (most of
which is refundable) and a rental payment or a straight rental without
an entrance fee.
Also on the site will be a Harris Bank in a separate building. Harris
owns the site and is a partner with HPD Cambridge in St. Louis and
Inland Real Estate Development, a part of the Inland Real Estate
Corp. based in Oak Brook.
The two-building project was approved by City Council in August
after favorable votes by the Council’s Development, Zoning
and Planning Committee as well as the Zoning and Planning Commission.
City officials have called the parcel of land one of the key sites
in redevelopment of the downtown.
Montgomery told members of the Senior Citizens Commission on January
10 that a “trendy” restaurant, which has not been selected
yet, will be open to the public.
The owner of the restaurant will be given certain stipulations,
she noted, such as offering room service to the seniors in the building.
Senior residents will also be given a discount on the menu prices
and will also have priority seating, according to Montgomery. She
explained that the operator would not be a chain restaurant.
The residents will not have to prepay for meals as is the case in
some other senior projects, Montgomery explained. The residents can
cook meals in their apartments or go out to nearby restaurants in
the downtown.
“Typically there is better food quality than what is provided
in other types of senior housing,” Montgomery noted.
The Elmhurst building, which will be built in a U-shape, will include
an outdoor terrace on the second floor. The structure here is what
Montgomery called the Inland family of developments which includes
ones to be built in Lombard, Clarendon Hills, and LaGrange. The website
for the four properties is: www.livingatthepointe.com.
These four buildings and two others which have opened with different
business partners in Naperville (www.naperplace.net/urban.shtml)
and Geneva (www.genevaplace.com) are all centered around the Urban
Senior concept developed by David Sanders of HPD Cambridge.
The concept includes constructing 30 to 50 independent living units
for seniors in downtown locations instead of larger buildings in
other locations. The web site, (www.urbansenior.com) said the concept
is “an attitude about life. It is a commitment to remaining
independent, preserving choices, promoting health and wellness and
experiencing the excitement which comes from diverse social interaction.”
|
