Thank you for sharing!

Your article was successfully shared with the contacts you provided.

CARMEL, IN-The St. Louis-based Stratford Cos., formerly known as St. Andrew’s Consulting Services, has broken ground for the Stratford at WestClay, an upscale 213-unit complex for people age 62 and older. The estimated construction cost is $50 million.

It is located on an 8.5-acre parcel within the 700-acre Village of WestClay, a mixed-use Traditional Neighborhood Development here. It will consist of 40 single-story cottages, a commons building with 131 independent living units, 30 assisted living units, and 12 skilled nursing facility beds.

The Lawrence Group, also based in St. Louis, is the architect and it has provided 19th Century elements in a traditional Main Street ambiance with pedestrian-scale buildings, which Dan Rosenthal, a Lawrence Group principal and project manager, tells GlobeSt.com is in keeping with the philosophy of locating within a TND. “If the car is no longer the dominant factor, communities not only look better, they also generate more social interaction,” he says. The main building will also contain a restaurant, bar, pool, fitness center, theater and library.

The cottages are under way along with the main building’s underground garage. The two-bedroom cottages range from 1,275 sf to 1,390 sf, and the independent and assisted living units include one-, two- and three-bedroom floor plans of from 760 sf to 3,240 sf.

Entry fees begin at $165,000 and reach to $250,000 for a cottage, and 80% of the total appreciated value of the unit is returned if the resident moves or, in case of death, is passed on to a beneficiary. A call to Stratford was not returned by deadline, but according to published reports, monthly fees range between $2,000 and $2,500. Rosenthal expects the complex to be completed by fall 2007.

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?


GlobeSt. Multifamily Spring 2022 (Formerly APTS)Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information


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
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.