Construction to Begin in 2020 on Senior Housing Development at Purchase College
Real Estate In-Depth | July 31, 2019
PURCHASE— Broadview – Senior Living at Purchase College is moving forward with its development of 220 independent living homes for ages 62 and older. When built, the project will be the first senior housing development to be located on a college campus in Westchester County.
The firm expects to begin construction on the development project next year.
The 220 independent living homes at Broadview will be comprised of 174 one- and two-bedroom apartments with underground reserved parking, and 46 two-bedroom villas with attached two-car garages.
An on-site health center for assisted living and memory care Broadview residents is also planned for the project.
The intergenerational senior learning community will offer residents an expansive array of amenities including multiple and varied dining venues, a movie theatre, pool, fitness center, spa and salon and park with walking trails. Its state-of-the-art Learning Commons will have multimedia seminar rooms, performance and exhibition areas, a computer lab, studios for art and movement, and a café—where residents, students and faculty can interact and learn from each other in a collaborative meeting and learning space.
“Purchase College is home to an inspirational community of students, faculty and friends where open-minded engagement with the creative process leads to a lifetime of intellectual growth,” said Purchase College President Thomas J. Schwarz, who has been deeply committed to the development of the senior learning community, under development for more than a decade.
“Having the senior learning community on campus will lead to a creative synergy between youth and experience, fostering an alliance of energy and wisdom that benefits everyone. It’s a home run all around,” Schwarz said.
Representing an extension of the educational mission of Purchase College, Broadview will offer a community where people can continue learning and be involved in the life of the college while also benefitting the college, its students and faculty financially. A total of 75% of rent proceeds from the Broadview ground lease will be used for student scholarships, and 25% will go toward faculty hiring at Purchase College.
Opportunities to attend cultural attractions on campus include theatrical and cultural events at the Performing Arts Center offering world-class music, dance and theatre productions and the Neuberger Museum of Art, world renowned for its collection of modern, contemporary and African art.
Broadview will be situated on 40 acres at the southwest portion of the 500-acre Purchase College. More than 10 acres of the site are dedicated as open space, providing trails and outdoor activity space for the residents and students. As part of the legislation that allowed for the creation of Broadview, Purchase College has also designated 80 acres on another part of campus as permanent open space.
An attractive Return-of-Capital financial plan at Broadview will refund 100% of the one-time entrance fee during the first four months of occupancy and 90% thereafter, no matter the length of residency.
The Life Plan Community is accepting reservations with 10% deposits for specific residences.
Life Care Services of Des Moines, IA, a nationally-recognized leader with 47 years of experience in the planning, development and management of more than 140 senior living communities nationwide, will manage Broadview – Senior Living at Purchase College. LCS Development is developing the community with Senior Care Development of Harrison, N.Y.
The general contractor of Broadview – Senior Living at Purchase College is Whiting-Turner from its regional office in White Plains. HCM Design of Baltimore, serves as the community’s architect and Merlino Design Partnership of King of Prussia, PA is the interior designer.