Developers say financing near for Alpena assisted‑living project; tree clearing, road work next

Developers of the Guardian Subelpina assisted‑living and memory‑care project told the Alpena City Council on Aug. 4 they are close to securing the equity and construction financing needed to start work, and have contracted a local builder to begin site clearing and road work.

At a presentation, Robert Storin, managing member of Allison Financial Ltd., said the development team had an investor and some financing fall through earlier this year but that “we should have something pretty well locked up and get moving” within two or three weeks. He said contractors for tree removal were in place and Clark Construction’s local office is contracted to handle construction work.

The project team includes an architect and an operator on the assisted‑living/memory‑care side, and a financing partner who described outreach to multiple equity investors and lenders. “Most of the investors we have have the ability to wire the full amount of equity that we’re looking for,” Jim Morris, a partner on the project, told council. He said he expected a full commitment for equity and a construction loan within about a week.

The developers told council they plan to begin clearing trees and then install roadway and utilities. Storin said the team expects construction to take about 14 months for the first building once the construction contract is signed. He said the assisted‑living/memory‑care building on the north side of Hemlock would begin first and that a follow‑on building would start roughly four months later.

Council members asked about tree removal costs and a survey the developers said they had completed to establish contours and existing road conditions. The team said most trees on the site are pines and that only a few are large enough to be removed at no cost by third parties. Storin said the team had delivered survey contours to the operator so the developer and operator could coordinate road alignment and utility connections.

No formal approvals or city financial commitments were requested at the Aug. 4 meeting. The presentation was an update; council did not take formal action on the project during this session.

The developers and council members also discussed coordinating the roadway with an adjacent housing developer so the new road could be shared and extended into neighboring property.

Sources: Presentation to Alpena City Council, Aug. 4, 2025; direct remarks by Robert Storin, Jim Morris and project team.