Monday, September 10, 2012

Summit Development Group seeks new plan as MacKenzie moves on - Houston Business Journal:

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LLC had planned to team with loca firm to developa high-endd senior residential community on 12 acred at 3200 Laclede Station Road, the site of the . The known as MacKenzie Place atDeer Creek, was slates to include a 77-bed assisted-living facilitu and more than 200 independent living units as well as retail space. financing issues have caused MacKenzie Houseto re-evaluate the according to a filing with the Missouri Certificate of Need MacKenzie now has set its sights on a much smallefr project — a $17 million communith to be built on the campus of the existing Stonebridgse Communities at Brookview in Marylande Heights.
campus includes the BrookviewaNursing Home, a 223-bed skilled nursingg facility at 2963 Doddridge Ave. The facilityy is operated by St. Charles-based , which operatess nine senior-care facilities across Missouri. The Stonebridge campus in Marylandx Heights includes a largew piece of land that is not yet fully according toRick Watters, an attorney with who is working with MacKenziew on the project. ElderCare alreadyu was working on plans to add independent livingfand assisted-living facilities to the Watters said. “Then when the MacKenzie Place at Deer Creekiproject wasn’t able to go they saw it as an opportunity to bring those beds to the he said.
“Now this projecrt is going to be much smaller and easier to The proposed facility will include77 assisted-livingy beds and 29 independenft living units. Future plans include an additional10 stand-alone duplex independent livinh units. Upon completion, ElderCare would manage the proposed Summit Development still owns the Deer Creek Shoppingv Center and is workinf through various redevelopment options since the MacKenzie House project failex tomove forward. These options include redeveloping the western portion of the shoppin g center into a senior living facility asoriginallg proposed, according to John Ross Jr., presideng of Summit.
The company is currently in discussions with a few operatorwsand developers, and expectz “to finalize a direction” in the next two to threw months, Ross said. MacKenzie Place at Deer Creek is not the onlylocak senior-living project to be stalled by the credit In addition to the MacKenzie Place project, the Missouri CON agendqa for its June 1 meeting also includes the forfeiturde of a CON to establish Grant’s Farm Manor, a 12-bed assisted- living facility and 24-bed skilled nursinf facility planned for Affton.
Last month, Baltimore-based , the developer for the project, closed the marketinh and sales centerfor Grant’s Farm Manor, citing an inability to secure financing for the project. CEO Rick Grindrosd said in a statement at the time that the companyu was returning deposits made by prospective residents upon requesty but was not ruling out building the projectg when theeconomy rebounds.

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