Park Place of Elmhurst, a 12 acre community in the metropolitan Chicago area, announced that construction has begun and the official celebration of the groundbreaking ceremony will commence later this month as it has secured $174 million for financing construction of the facility. The 173 one-, two- or three-bedroom apartment project has 80 percent of its units reserved prior to construction fully commencing and expects that those units will be occupied by late 2011. In addition to independent residential living apartment homes, Park Place of Elmhurst’s continuum of care includes 46 assisted living apartments, 20 memory support suites and 37 skilled nursing private rooms, all on campus, to provide services and support for residents, if needed in the future.
“Completing our construction financing is a testament to the support we received from seniors who are seeking to enhance their rewarding daily lifestyle, while also putting a plan in place no matter what the future brings,” said Don Englesman, Vice President of Marketing New Development for Providence Life Services. “Before you can finance construction of a new Life Care community, you typically need to have 75 percent of the residences reserved. We surpassed that goal, because so many people love the vibrant retirement atmosphere created by the combination of our Park Place community and the surrounding Elmhurst area.”
