A Chicago-based development company plans to begin construction this fall on a 120-unit assisted living complex in Cuyahoga Falls.
Vermilion Development, described as a “specialist in community-oriented mixed-use projects and public-private partnerships” on the company website, told City Council members June 2 it hopes to begin construction in October.
The $17 million project is located on East Bath Road, south of the Reserve at East Bath near Graham Road.
Darrin Jolas, a managing director with Vermilion, told council his company had found success in assisted living.
“The assisted living business was new to us about 10 years ago,” he said.
It now has 13 assisted living centers in four states, with 1,100 residents and 575 employees.
Richard Choi, development director for Vemilion, said about 20 markets in Ohio were identified as possible locations in a Vermilion market study. Several of those sites are in various stages of development.
The Cuyahoga Falls location, he said, will employ about 45 people with an estimated payroll of about $2 million to $2.2 million. Access will be from Bath Road, not Graham Road.
“We’d like to break ground, roughly, in October,” Choi said.
He said construction of the three-story complex will take about 14 months. Three homes will be removed on the four-parcel, 7.4-acre site before construction begins.
“There’s demand here — not to mention the 65 and older population is scheduled or predicted to increase by 10% in the next five years,” he said. “The 75 and older population, which is really the people we care for, is predicted to increase by 22%.”
The city’s Planning Commission recommended council approval on May 20.
“We look forward to welcoming Silver Birch and its residents to Cuyahoga Falls,” Mayor Don Walters said in a June 6 email. “As our community continues to grow and evolve, it’s essential that we provide high-quality, supportive housing options for residents at every stage of life.”
Demand for assisted living housing is expected to grow with the increasing number of Americans over 65. The National Investment Center for Seniors Housing & Care estimates that 600,000 additional units are needed by 2030 to meet demand.
Leave a message for Alan Ashworth at 330-996-3859 or email him at aashworth@gannett.com. Follow him on Twitter at @newsalanbeaconj or Facebook at www.facebook.com/alan.newsman.
This article originally appeared on Akron Beacon Journal: 120-unit assisted living complex planned in Cuyahoga Falls; construction starts in fall
Reporting by Alan Ashworth, Akron Beacon Journal / Akron Beacon Journal
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