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CHICAGO-A venture of the Kendal Corp., the city of Chicago and developer Greystone Communities will officially break ground today on a $202 million new retirement community here. This 31-story Admiral on the Lake tower, going up at the south side of Foster Avenue and Marine Drive, will be the Kennett Square, PA-based company’s first foray into the Chicago market.

Kendal will manage the project for the Admiral group, a non-profit organization dedicated to caring for the city’s elderly residents. Kendal is also a non-profit group, a 35-year-old organization that developed and manages 14 retirement communities in six states. The two groups signed an agreement in July 2009 to build this facility. “We have a new and very similar opportunity in the City of Chicago,” said John Diffey, president and CEO of Kendal. “This promises to be an exceptional new urban retirement living community.”

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