As a metro area poised to boom with senior demographic growth, a Pittsburgh-area site for sale offers a ground-up development opportunity for new senior housing.
Independent research conducted several years ago by the Rand Corporation indicates the 65-84 age demographic in metropolitan Pittsburgh will rise through 2035, making it a market ripe for development of senior housing and care properties.
The longtime owners of the site in Hempfield Township, Greensburg, Pennsylvania are marketing for sale a 600-acre property with zoning approved by the township.
GES Family Partnership (GES) is seeking a buyer with a vision for the property that could include senior housing including independent living, assisted living, active adult—or other possibilities from post-acute rehabilitation services to memory care.
Development opportunity
The available 600 acres are approved for 2000-plus mixed-use residential properties, which could comprise all or some senior housing. Particularly in Pennsylvania where there is a high premium on zoning, the site is essentially move-in ready for a developer with a strong long-term vision. A sprawling campus, the acreage could incorporate single-story clustered assisted living homes or memory care units with proximity to a skilled nursing facility, mansion-style senior housing, or a combination of housing types.
The proximity of the site to area medical and surgery centers also positions it as a prospective location for short-term post-acute rehabilitation, as there is consistently a shortage of skilled nursing beds in the ear.
In addition to incorporating 1,000,000 square feet of commercial zoning approvals, the property has available utilities and is ready for development.
“The sprawling campus lends itself to single-story living homes that could feed into an assisted living or other senior housing site,” says Helene Nseir of Berkshire Hathaway HomeServices. “Development could include a rehab center for recuperation from joint and other surgeries and there is consistently a shortage of long-term nursing beds in the area, as well as a need for memory care services.”
The Property
Situated within close driving proximity to Pittsburgh, the location provides access to major highways and is roughly 25 miles from the University of Pittsburgh Medical Center. Locally, Greensbury has a 350-bed hospital system that offers procedures including open heart surgery, orthopedics, cancer treatment centers and other health care needs. Within 12 miles, residents of the property can also access the Allegheny Health Care Network, which serves as a tertiary medical center and has a campus in nearby Monroeville.
Greater Pittsburgh
While healthcare is a major area draw, other local amenities include a regional airport, symphony orchestra, and newly-renovated Museum of American Art. Neighboring colleges Seton Hall, St. Vincent College and University of Pittsburgh at Greensburg offer opportunities for partnerships and access to university-based services and activities.
For active community members, the area also boasts two ski resorts, private and public golf courses, and the nearby Laurel Highlands, which is an area attraction for tourists visiting Pennsylvania each year. Greater Pittsburgh also provides a wealth of sports and culture including The Pittsburgh Steelers NFL team, the NHL’s Pittsburgh Penguins and Pittsburgh Riverhounds soccer team. Local colleges including Carnegie Mellon serve as a major draw, and Google recently opened a major headquarters in Pittsburgh due to the wealth of available talent there.
The GES partnership purchased the property 18 years ago and has also acquired all contiguous property, some of which includes existing development. One of the contiguous properties is home to Northpointe, a single-family residential community with 120 homes sites in total—five of which remain and are valued at $325,000 to $500,000 per site.
Inquiries
The GES Partnership is accepting inquiries.
Contact Helene Nseir for more information:
Helene Nseir
Sales Associate, Berkshire Hathaway HomeServices, The Preferred Realty
Phone: 724 838 3660 x652
