(Read more on the multifamily market.)
ROMEOVILLE, IL-DBA LLC, headquartered in Madison, WI, is developing a seniors housing project on a 29-acre site at the intersection of Grand Haven Circle and Edward Drive. The development has an estimated cost of $100 million, which includes the cost of between $38 million and $45 million to construct the first phase of 348-units, says Dennis Deppisch, principal with DBA. The cost does not include the development of an approximate five-acre parcel of the site that could be sold for the construction of a medical office building, Deppisch says.
The development is off of Weber Road, a main thoroughfare here, says Chet Bredeen, principal with Midwest. Romeoville is "one of the fastest growing areas," in terms of residential, industrial and commercial developments, Bredeen says. The two buildings that will comprise the first phase of the project will have a total of 407,844 sf. A three-story, 360,430-sf building will have 121 independent living units and 150 assisted living units. The building will also have below-grade parking for 115 cars. A 47,414-sf building will have 77 "Memory Care" units for seniors suffering from Alzheimer's disease and dementia.
Site work has started, with building construction expected to begin within a month, says Mathew Dougherty, project executive with McShane Construction Corp. The first phase of the development is expected to be available for occupancy in the fall of 2009.A second phase of independent living units, with between 75 and 100 units, is also planned, Bredeen says. DBA is also planning on selling a parcel of the property for the development of a medical office building "because that always complements the type of health care services" that Midwest will be providing, Bredeen says. The medical office building could have anywhere between 10,000 sf to 80,000 sf.
The buildings will be constructed by McShane, headquartered in Rosemont, IL. Eppstein Uhen Architects Inc. will be the architect for the development. The three-story building will have a commercial kitchen, dining room, multi-purpose and activity rooms, a salon, game room, therapy pool and fitness and wellness center. Midwest has sites in Davenport, IA; McHenry and Mendota, IL; and Appleton, Colby, DeForest, Green Bay, Greenfield and Neillsville, WI.
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