A Denver-based company is ready to invest in its fourth senior living development in the northern suburbs.
Spectrum Retirement Communities LLC announced Monday that it received all the necessary approvals for a 174-unit senior living community in the mixed-use Anson development in Whitestown.
Anson Senior Living will offer apartments of various sizes, ranging from studios to 1,000-square-foot apartment homes with two bedrooms and two bathrooms. It is expected to cost $35 million, according to Mike Longfellow, senior vice president for construction and development for Spectrum.
Spectrum already operates two senior living communities in the area—Meadowbrook Senior Living in Fishers opened in 2013 and Carmel Senior Living opened in 2015. Meadowbrook has an occupancy rate of about 78 percent and Carmel Senior Living's is about 66 percent.
The Enclave Senior Living at Saxony in Fishers (shown above) is also under construction and could open next year.
Anson Senior Living should break ground in the spring and be completed in 2018.
“We saw in the northern suburbs an underserved area with the type of product that we were building,” Longfellow said. “I think it certainly is an area we could potentially do more business in.”
Spectrum owns and operates 33 communities throughout 12 states with an overall occupancy rate of 95 percent. Eight additional facilities are under construction now.
The company has a staff of more than 2,300 employees that will oversee more than 4,300 apartments by the end of the year.