10 STORY SENIOR LIVING PROJECT PLANNED FOR PROSPECT PARK

Another mixed-use project is being planned for the Prospect Park neighborhood, this time around it won't be student housing, but rather Senior Living units.

Located at 22 Malcolm Avenue SE, "Prospect Park Senior Living" will be constructed on a site that is currently home to a day care center, industrial building, and multiple surface parking lots. The building itself will feature three varying building heights going from four stories, to six, and at its highest point, standing ten stories tall. The project will be home to 283 senior living residential units and 8,700 square feet of retail.

6,634 square feet of that retail space would be found within the four story section of the building fronting University Avenue and would be home to a child care center. Most likely the day care space will be home to Children's Village Montessori Day Care as their current home will be torn down in order to make way for the new project.

Another retail space of 2,144 square feet will be located at the back left corner of the building on the corner of 30th Avenue SE and 4th Street SE. Perfect home for a Starbuck's?

SENIOR LIVING

This project will serve an underdeveloped area within the housing market; the senior citizen sector. All 283 residential units within the building will be devoted to senior citizen living, however not all them will be the same format or living situation.

In the six story section of the building that will front 4th Avenue SE (at the backside of the lot) there will be 118 individual living units. These units will be more like a traditional apartment, however they will still have access to the medical care and 24 hour monitoring that the other units within the project will have access to.

The 10 story section of the building, which will front Malcolm Avenue SE on the East side of the site, will be home to a total 177 additional residential units.

54 of those residential units will be Memory Care units and will be home to senior citizens with memory loss diseases such as Alzheimer's. The remaining 123 units will be Assisted Living units and will be home to senior citizens who need care and aid with everyday tasks.

AN EXPLOSION OF GROWTH

This project is just the latest to surface in an area that is seeing an explosion of growth.

Next door, The Link, will open in May. That project will offer over 325 residential units aimed at working professionals and students, along with 41,000 square feet of retail space. About 30,000 square feet of that space is already spoken for and will be home to a Fresh Thyme Farmers Market which will open this summer.

Behind that project another residential project, The Green on Fourth, is planned. That project will bring a six story residential building with 243 residential units. To its left, 4th Street Lofts is being planned, which will be another 6 story residential building that will be home to 163 units. If you go to the right side of the The Green on Fourth, ANOTHER residential building is being planned that will be 5 stories tall and be home to 70 residential units.

To top it all off, the area behind all of these projects is also undergoing a redevelopment.

Malcolm Yards Market, a new food hall, is expected to open sometime this year in a historic building that is being restored and expanded. In addition, Midwest Climbing will be opening a new climbing facility in the area in a few years.

Lastly, a developer has recently proposed an additional mixed-use project off of Malcolm Avenue SE that would include over 50,000 square feet of retail space along with residential units and potentially office space. Do we really need to say it? This area is BOOMING.

If you're curious to see where all the projects mentioned above are located, take a look at our Development Map. It's packed with information and images.

Prospect Park Senior Living is expected to be completed in early 2019.