Carmel developer sinks $66M into four senior communities

Carmel-based Leo Brown Group LLC has committed $66 million to develop two senior communities in the Indianapolis area and two more in Ohio and Kentucky, the developer of health care properties said Monday.

In Indianapolis, the $16.7 million, 105-unit Traditions at Solana opened last month in Milhaus Development LLC’s Solana at the Crossing apartment development at 78th Street and Keystone Avenue.

Leo Brown Group also opened Traditions at Reagan Park last month in Avon near the IU Health West hospital campus. The $11.5 million, 82-unit assisted living and memory care community is part of the larger Reagan Park senior-living campus developed by Leo Brown.

In Reagan Park, Traditions joins the existing Thornbury Pointe senior apartments and the Brooke Knoll Village Health and Rehabilitation skilled-nursing facility. The 25-acre Reagan Park will be fully developed next year.

In Granville, Ohio, east of Columbus, Leo Brown Group began construction in May on Middleton of Granville, the firm’s first senior-living community in the state. The $18.3 million development includes 94 assisted living and memory care units, and is a joint venture with Columbus-based Continental Real Estate Cos.

And earlier this month, Leo Brown Group broke ground on the $19.5 million Traditions at Beaumont in the Louisville suburb of Fern Creek, the company’s first development in Kentucky. The project includes 130 independent living, assisted living and memory care units.

A company affiliate, Traditions Management, will operate the four facilities.

 

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