Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Senior Housing topic
No spam. Unsubscribe anytime.
Developer says $76 million senior living campus planned at Andover roundabout; tentative 2027 opening
Summary
A developer briefed the council on plans for an independent living, assisted living and memory care campus near the roundabout on Cloud; the presenter said financing had been delayed but that a committed partner is now on board and construction could begin in the next few weeks with an estimated opening in March 2027.
A developer told the Andover City Council on Feb. 25 that a proposed senior living campus near the roundabout on Cloud will include independent living, assisted living and memory care units and represents roughly a $76 million private investment in the city.
The presenter, who identified himself as being based in Iowa and representing the project team, said the facility will function as a campus where residents can transition from independent living to assisted living and memory care without relocating off-site. He described unit counts in the presentation slide deck: the project includes independent-living apartments, approximately 49 assisted-living units and about 20 memory-care units; the presenter said the overall bed count would be about 55 (some units designed for couples). He announced a total development investment of $76,000,000 and said a financing partner that had previously withdrawn is now committed, allowing earthwork to resume in the coming weeks.
When asked for an estimated opening or move-in date, the presenter said he expects a construction timeline of about 18 months and estimated an opening in March 2027. He said the project is unchanged from the prior plan the council has seen and that staff would provide the presentation materials for the council packet on request.
Several council members and attendees commented that the campus concept's continuity from independent living through memory care would be attractive to local families. One resident in the audience said the timeline would match their personal needs for family housing.
No formal action was taken; the presentation was informational. The developer said he would return with periodic updates on site work, leasing and other milestones.
