Retirement Projects Carry on Despite the Downturn

By GlobeSt News Portal

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CHICAGO-The growth in the population of older adults have boosted the development of retirement homes, despite the downturn. Two retirement communities have broken grounds in the past few months. In June, work commenced on Park Place of Elmhurst. The 256-unit, $178.9 million project is expected to be completed by the end of 2011.

In mid-July, construction began on GreenFields of Geneva in the western suburbs. Friendship Senior Options is building the $50 million retirement community, which will house 267 units. For the full story, go to Chicago Tribune.

Categories: Midwest, Multifamily, Development, Chicago