LAKE ZURICH, IL-Ryan Cos. US Inc. has started construction on a $15 million seniors housing project here. Carefree Development, based in Chicago, will be the owner of the 95-unit Zurich Meadows project at 250 Mohawk Trail.

The project will feature 56 one-bedroom and 39 two-bedroom units and 60 enclosed parking spaces with another 40 outdoor spaces for guests. The community requires a one-time entrance fee and the execution of a one-year residence contract. Rents will range from $820 to $920 per month, that will also include services of pharmacy and grocery delivery, laundry and home cleaning.

Brian Kinney with Ryan said this project is an example of how seniors want more amenities today in their facilities. The project will include a large amount of common area space, lounges, a library, game room, fitness center, recreation space and a dining room where optional meals will be served.

Kinney tells GlobeSt.com that his firm is seeing a lot of interest in new seniors housing developments throughout the country. “We’ve got a 48-unit building underway in St. Louis, and have bid on several proposals in Iowa, New Orleans and Chicago. We think this workload is going to continue for the next two-to-three years,” he says.

One seniors housing project type that has dropped in popularity, he says, is joining the developments with retail or other multifamily projects. “We haven’t see as much mixed use as we were,” Kinney says. “Because of the basic nature of the structure, it doesn’t mesh with other property all that well in suburbs, though it’s still going on in urban development.”

Instant Insights /

Carefree Names Ryan Cos. for Seniors Housing

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