Lutheran Towers paid $2.1 million or about $48.20 per sf for a one-acre tract that formerly housed the single-story annex of the Central Church of the Nazarene building. The retirement home plans an undetermined number of condominiums, a spa, rooftop restaurant, wellness and fitness center and heated swimming pool on the site.
Lutheran Towers officials couldn't be reached at GlobeSt.com's publication deadline to learn funding and other project details. The existing tower has 202 independent living units, 96 assisted living units and an adjacent 126-bed nursing facility.
The proposed venture is in a Downtown area that is undergoing intense commercial renovation and redevelopment on several sites. Apartment and condo development has been the strongest sector to date. Office, retail and hotel development lag in this sector of Downtown.
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