CHICAGO—Ryan Cos. US, Inc. has just completed construction of Clarendale of Algonquin, a $40-million, 186-residence senior living community at 2001 W. Algonquin Rd. in suburban Algonquin. It is the third open or under construction Clarendale senior living community from developer-builder Ryan and its project partners Life Care Services, An LCS Company, and Harrison Street Real Estate Capital.
To celebrate the opening of the community, an open house and ribbon cutting ceremony was held last week at the new facility. Development team members and Clarendale staff welcomed Village officials and other guests to the event.
“It is exciting to once again deliver a new high-quality senior living community that will provide local seniors a great place to live with every opportunity to maintain an active and engaged lifestyle,” says David Erickson, director of development, Ryan Cos. “That is our ultimate goal, and we are committed to create communities that embrace a connection to community and the full continuum of care.”
Developers like Ryan have been steadily adding senior care facilities in many markets, and experts believe this expansion will continue for several years. Chicago-based global market research company Euromonitor International released a study in the summer, for example, that showed the number of US facilities will increase from 26,209 to about 30,600 by 2021, an annual growth rate of 3.1%.
That forecast is in line with other studies that show a steady but not spectacular growth in US senior care facilities, but only after developers finish a strong burst of construction this year. The National Investment Center says that at the end of 2015, US developers had 48,903 units under construction, more than double the number under construction three years earlier.
Clarendale of Algonquin has 76 independent living residences, 56 assisted living and 54 memory care suites, with a variety of floor plans based on the type of care. Independent living residences include one-bedroom, one-bedroom plus den and two-bedroom units and ranging from approximately 720 square feet to 1,285 square feet. Assisted and memory care living suites include studio, and one- and two-bedroom apartments and range in approximate size from 310 square feet to 835 square feet.
Life Care Services of Des Moines, IA, will manage the facility. Founded in 1971, Life Care Services now manages more than 130 communities in the US.
Clarendale of Algonquin is the second of the Clarendale-branded projects to open in the Chicago area. Clarendale of Mokena is a 156-residence community that opened last September. Clarendale of Schererville, IN, a $40-million, 177-residence community, is scheduled to open next spring. Ryan and LCS recently announced a fourth project, Clarendale of Hendersonville, a 184-residence community outside of Nashville, TN.
CHICAGO—Ryan Cos. US, Inc. has just completed construction of Clarendale of Algonquin, a $40-million, 186-residence senior living community at 2001 W. Algonquin Rd. in suburban Algonquin. It is the third open or under construction Clarendale senior living community from developer-builder Ryan and its project partners Life Care Services, An LCS Company, and Harrison Street Real Estate Capital.
To celebrate the opening of the community, an open house and ribbon cutting ceremony was held last week at the new facility. Development team members and Clarendale staff welcomed Village officials and other guests to the event.
“It is exciting to once again deliver a new high-quality senior living community that will provide local seniors a great place to live with every opportunity to maintain an active and engaged lifestyle,” says David Erickson, director of development, Ryan Cos. “That is our ultimate goal, and we are committed to create communities that embrace a connection to community and the full continuum of care.”
Developers like Ryan have been steadily adding senior care facilities in many markets, and experts believe this expansion will continue for several years. Chicago-based global market research company Euromonitor International released a study in the summer, for example, that showed the number of US facilities will increase from 26,209 to about 30,600 by 2021, an annual growth rate of 3.1%.
That forecast is in line with other studies that show a steady but not spectacular growth in US senior care facilities, but only after developers finish a strong burst of construction this year. The National Investment Center says that at the end of 2015, US developers had 48,903 units under construction, more than double the number under construction three years earlier.
Clarendale of Algonquin has 76 independent living residences, 56 assisted living and 54 memory care suites, with a variety of floor plans based on the type of care. Independent living residences include one-bedroom, one-bedroom plus den and two-bedroom units and ranging from approximately 720 square feet to 1,285 square feet. Assisted and memory care living suites include studio, and one- and two-bedroom apartments and range in approximate size from 310 square feet to 835 square feet.
Life Care Services of Des Moines, IA, will manage the facility. Founded in 1971, Life Care Services now manages more than 130 communities in the US.
Clarendale of Algonquin is the second of the Clarendale-branded projects to open in the Chicago area. Clarendale of Mokena is a 156-residence community that opened last September. Clarendale of Schererville, IN, a $40-million, 177-residence community, is scheduled to open next spring. Ryan and LCS recently announced a fourth project, Clarendale of Hendersonville, a 184-residence community outside of Nashville, TN.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
