Hunt Midwest Real Estate Development, Inc. is getting ready to build at least four new senior living centers in the Kansas City Metro area.
In May, the company broke ground on Benton House at Shoal Creek, an 80-bed assisted living facility located in the Benson Place master-planned residential community in Kansas City’s Northland. This summer, Hunt plans to break ground on a second assisted living center that is slated to be open in the spring of 2012.
The projects are being developed with Principal Senior Living Group, which has experience operating facilities in Florida, Georgia and South Carolina. The total senior capital investment in Kansas City by Hunt Midwest/Principal Senior Living Group is estimated at $30 million.
“With the aging population and our residential housing experience, it made perfect sense that we invest in the senior housing market and, more specifi cally, in the higher level of care needed for assisted living and memory care,” said Ora Reynolds, president of Hunt Midwest Real Estate Development, Inc. “We are pleased to partner with Principal Senior Living Group on this venture. They have a solid management team with exceptional operational experience. Together we expect to fi ll a real void for quality senior housing in the Kansas City market.”
Benton House at Shoal Creek will be a 40,000 sq. foot facility with 59 rooms configured around two courtyards, with 75% of the center dedicated to assisted living and the remaining earmarked for memory care or Alzheimer’s patients.
According to Hunt, the apartments will be leased for approximately $3,000 to $4,500 per month. The 500-acre Benson Place mixed-use community features both townhomes and patio homes and currently offers single-family homes starting in the low to mid $200,000s. A child care facility is also on site, so when Benton House is complete, the needs of multiple generations can be met in one community.
“Research shows that adult children want their aging parents nearby,” said Reynolds. “And the 75-and-older population is projected to grow dramatically over the next 10 years. By offering high-caliber senior housing options in established residential communities, families can always enjoy being near their loved ones.”
Hunt Midwest and Principal Senior Living Group also have plans for two additional Benton House facilities in the Kansas City area.
