$70M Senior Housing Community Planned Near Baltimore
Scheduled for a 2025 completion, the project is part of a 108-acre mixed-use development.
Park Avenue Lifestyle, in partnership with Bob Bourne and Bourne Financial Group, has purchased a land parcel for the development of a $70 million, 160-unit senior living community in Bel Air, Md. Hogan Cos. brokered the transaction.
Set to comprise independent living and assisted living units, the five-story senior property will include a fitness center, an in-house restaurant, a pub, event space, outdoor courtyards and walking paths. The community will also provide health and wellness services. Completion is expected in 2025.
The senior living facility will be part of James Run, a 108-acre mixed-use development underway in Harford County. At full build-out, the property will encompass 300 residences across six buildings, as well as townhouse villas and apartments totaling 270 units and the 160-beds assisted living facility. James Run will also feature more than 57,000 square feet of retail space, approximately 20,000 square feet of office/medical space, a daycare and a hotel and conference center.
JEN Partners is developing the project in conjunction with Craftsmen Cos., serving as development manager, and MacKenzie Commercial Real Estate Services as exclusive leasing broker. The development site fronts Creswell Roads, having direct access to Interstate 95. Downtown Bel Air is less than 8 miles northwest, while downtown Baltimore is some 32 miles away.