Construction for a $35 million Springpoint Senior Living community is underway in Red Bank, New Jersey, and the need for senior housing is clear as nearly all of the building’s 60 units have already been spoken for.
The construction will be an addition to the already-existent The Atrium, which features luxury continuing care retirement, assisted living and affordable housing communities, and is expected to be completed toward the end of 2012.
“We’re excited to expand our presence here in Red Bank as well as realize the full potential of our beautiful location on the Navesink River,” said Gary T. Puma, President and Chief Executive Officer of Springpoint Senior Living. “The Atrium at Navesink Harbor will stand as a flagship community for Springpoint.”
The new units will consist of 35 one-bedroom and 25 two-bedroom apartments, and most of the apartments were pre-sold by groundbreaking time. Springpoint says it took a conservative approach to ensuring the new building’s success through the pre-sales and conducting extensive market research regarding the project’s viability and attractiveness to seniors.
Springpoint Senior Living owns and operates 25 senior living communities throughout New Jersey, with another one in the works.
Written by Alyssa Gerace