Refining the scope of our expansion plans.
At the onset of our expansion campaign, we were planning on expanding 4 areas of our campus: Cottages, Apartments, Assisted Living, and Villas. Taking on a building project of this scale in the midst of a global pandemic has presented a unique set of circumstances for our leadership team. At this time the board has decided to move the project forward without the Villas. All of the participants in the pioneer program for Villas have been contacted, and many have decided to pivot to our Apartments or Cottages.
Here is the latest update on our campus expansion:
1) Cottages: We continue to build new single-story ranch homes on the southern end of our campus. Four are currently under construction and pricing and floorplans for the next two will be available early December.
2) Timeline for Apartments and Assisted Living: Site work is scheduled to begin spring 2022. At this point we are projecting that both will be ready for occupancy in late 2023.
3) Apartments: Changing the scope of the project impacts the cost basis of the expansion, and we want to make sure that the entrance fees and monthly fees reflect the actual costs of the work. As soon as we have determined this, we will begin to contact pioneers about selecting an apartment and making the initial 10% deposit.
4) Assisted Living & Memory Care: More information will be available in the coming year. We recognize that at this point we have more demand than supply in this area and the expansion will help us address this need.