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CHICAGO-Greystone Communities Inc. has commenced construction onAdmiral on the Lake, a $228.5-million senior housing tower, locatedat Marine Drive and Foster Avenue on the North Side. The IllinoisFinance Authority has issued $202 million in bonds to finance thedevelopment.

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The 31-story, 256-unit development, which is expected to becomplete in September 2012, includes 56 units meant for residentswho require extra care. Once the project is complete,Pennsylvania-based Kendal Corp. will remain as manager. Forthe full story, go to Crain's Chicago Business.


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