JV to Develop $20M Luxury Senior Community in Louisville
- Aug 26, 2016
Louisville, Ky.–A development team consisting of Cincinnati-based Guttman Properties and Civitas Senior Living is set to develop a $20 million luxury senior living community in Louisville.
To be named The Grand of Prospect, the community will be located on 14.8 acres at 5217 Chamberlain Lane, and offer 168 independent, assisted living, and memory care residences. Construction is expected to begin in the fourth quarter of this year and be completed by the first quarter of 2018.
Louisville-based Mindel, Scott and Associates Inc. will be the civil engineer on the project, while Columbus Ohio-based ph7 Architects will be the architect.
Guttman Properties is a newly created real estate development company founded by Ian Guttman that will focus on senior housing development and upscale apartment communities. Guttman formed the company after 29 years with his father’s company, Hills Properties of Cincinnati.
“My love for my father, coupled with observing the struggles that accompany the aging process, were pivotal factors that led to my desire to pursue senior housing solutions,” Guttman said.
“We all want the best for our parents as they age because we love them,” he added. “Studies have shown that seniors who live in housing that offers a resort-like experience feel connected to a community and have a better quality of life.”
The Grand of Prospect will certainly aim to offer this lifestyle with planned amenities like indoor and outdoor dining options, massage room, theater room, salon and barbershop, playground for families, and landscaped grounds.
Social clubs and activities will also be offered to residents. Assisted living and memory care residents will have access to a courtyard with walking path, theater, private dining, among other amenities.
Guttman Properties and Civitas Senior Living will own the property, while Civitas will handle the daily operation under the leadership of Wayne and Misti Powell.
“As the president and CEO, my only career for almost 30 years has been senior living,” said Wayne Powell of Civitas Senior Living. “My passion for senior living is shared by my team, with the vast majority having dedicated their entire careers to serving seniors. With 10,000 baby boomers retiring daily we are dedicated to being the leading senior living provider.”