AURORA, CO-Denver-based CDHA Associates is developing a $12-million, 103-unit senior apartment complex at 200 S. Ironton St. in this city. The development, called Pinewood Lodge, will be for low- to moderate-income seniors.

“Many of our seniors are ‘rent burdened’ and aren’t able to find quality senior living at an affordable price,” says Ken Hoagland, of CDH Associates. Hoagland is a 15-year veteran of the industry.

“There are few, if any, senior garden-style developments that are affordably priced, in the immediate area,” he adds. “As the majority of our population grows older, the demand for developments such as Pinewood Lodge will only increase. We’re filling an immediate need.”

The community is aimed at seniors making 40%, 50% and 60% of the area median income. However, it will offer amenities found at many more expensive communities, he says.

Amenities will include a large community center, a beauty shop, a branch ban, cafes and bistros, massage therapy, a concierge, travel agency, fitness center, and pottery classes. Even a Wall Street Journal discussion group is planned.

The facility also will provide visiting nurses and Meals-on-Wheels. “This is a project designed and built specifically for seniors, at a price point that is very attainable,” says Robert Drury, also of CDH. The center is scheduled to be completed in October.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.