A new senior community development that will be opening in Andover late next year had a ceremonial groundbreaking Monday.
The 70-unit, three-story Arbor Oaks Senior Living will include a mix of one- and two-bedroom assisted living units, studio memory care units and one- and two-bedroom independent care units, according to Roger Fink of Trident Development, LLC.
At the center of the building will be a community room and wellness facility, a coffee shop, private dining room, salon, spa, laundry room, media center and library. Arbor Oaks will have its own van to make field trips possible.
Trident Development developed the plans for this 74,569 square-foot facility located on the southwest corner of Hanson Boulevard and 155th Avenue. N.W. Lyon Contracting and Development, Inc. had already started construction before the Sept. 17 groundbreaking took place. Tealwood Management, LLC will be the building manager.
Howie Groff, president of Tealwood Management, LLC, said while some senior living communities have different buildings for assisted living and independent care, Arbor Oaks will have one footprint. Residents can stay in the same building if they need additional services. As Groff put it, “When you need the services, we bring the services to you.”
Groff said this will be the seventh senior housing project on which Tealwood and Trident have worked together. Trident Development is a real estate development company that has developed plans for senior housing facilities in numerous Minnesota communities such as Albertville, Eagan, Fridley, Princeton, Ramsey and St. Michael.
Tealwood manages over 40 properties in a five-state area in the Upper Midwest, including assisted living facilities and nursing homes that are both privately and publicly owned.
Trident, Tealwood and private investors joined forces to create Arbor Oaks, LLC, which will own as well as operate the facility.
Arbor Oaks Senior Living is near the Grey Oaks neighborhood. Community Development Director David Carlberg said this new facility would not be a part of the existing neighborhood association, but the building material would match the appearance of other neighborhood homes.
Arbor Oaks is an important addition to the community because it provides an opportunity for older residents to remain in the city of Andover, he said.
Fink said Trident’s market analysis showed that by 2015, there would be an unmet need of 199 senior housing units in this area. This statistic factors in multiple needs whether they be independent, assisted or memory care.
Peter Turok, president of the Anoka Area Chamber of Commerce, said that a lot of people have called the chamber to inquire what senior living communities are in the area, which the chamber office shares with them.
“It’s good to see these things start to pop up again,” Turok said. “It’s been quiet for a couple of years, but now we’re starting to see these come up all over the place.”
When he was marketing the site for approximately nine months, Marty Fisher of Premier Commercial Properties said the positive traits he pointed out were the walking paths, pharmacy, grocery store and many other nearby amenities that would be useful to senior citizens.
There could be even more senior housing coming to this area some day, he said.
Fisher said there are four to five vacant lots in this area that the city has designated for 55 and older communities.
City helping out
The Andover Economic Development Authority (EDA), which includes the whole Andover City Council and two appointed citizens, approved $540,000 in tax increment financing (TIF) to help Arbor Oaks, LLC get this project done.
City Administrator Jim Dickinson said this TIF assistance package would be “pay as you go,” so the developer would not get financial help if the project stalls.
Carlberg said what the city is doing is taking the increase in taxes from the site improvements being done and using this to pay the developer for qualified improvements for an amount up to $540,000.
The development agreement between the city and Arbor Oaks, LLC calls for the facility to be substantially completed by Dec. 31, 2013.
Eric Hagen is at firstname.lastname@example.org