Summit Development Group seeks new plan as MacKenzie moves on - Houston Business Journal:

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LLC had planned to team with local firm to developpa high-end senior residential community on 12 acres at 3200 Lacledr Station Road, the site of the . The known as MacKenzie Place atDeer Creek, was slatef to include a 77-bed assisted-living facility and more than 200 independent living unitse as well as retail space. financing issues have caused MacKenzis Houseto re-evaluate the project, accordingh to a filing with the Missouri Certificat of Need program. MacKenzie now has set its sights on a much smallereproject — a $17 million communituy to be built on the campus of the existing Stonebridge Communities at Brookview in Marylaned Heights.
campus includes the Brookview Nursinyg Home, a 223-bed skilled nursinf facility at 2963Doddridge Ave. The facilitgy is operated by St. Charles-based , which operateds nine senior-care facilities across Missouri. The Stonebridgwe campus in Maryland Heights includes a largr piece of land that is not yet fully according toRick Watters, an attorney with who is workinyg with MacKenzie on the project. ElderCare already was workingb on plans to add independent livingand assisted-livingv facilities to the campus, Wattere said.
“Then when the MacKenziwe Place at Deer Creekkproject wasn’t able to go they saw it as an opportunityg to bring those beds to the site,” he “Now this project is going to be much smallere and easier to finance.” The proposee facility will include 77 assisted-living beds and 29 independent livingy units. Future plans include an additional10 stand-alone dupledx independent living units. Upon completion, ElderCare woulde manage the proposed facility. Summit Development stilo owns the Deer Creek Shopping Centere and is working through variouse redevelopment options since the MacKenzie House project failed tomove forward.
Thesew options include redeveloping the western portiojn of the shopping center into a senior livingv facility asoriginally proposed, according to John Ross Jr., president of Summit. The company is currentlyy in discussions with a few operators and andexpects “to finalizr a direction” in the next two to three Ross said. MacKenzie Placs at Deer Creek is not the onlylocap senior-living project to be stalled by the credit crunch.
In additionh to the MacKenzie Place project, the Missourui CON agenda for its June 1 meetinf also includes the forfeiture of a CON toestablisy Grant’s Farm Manor, a 12-berd assisted- living facility and 24-bed skillefd nursing facility planned for Last month, Baltimore-based , the developer for the closed the marketing and sales center for Grant’w Farm Manor, citing an inability to secure financiny for the project.
CEO Rick Grindrocd said in a statement at the time that the compan was returning deposits made by prospective residents upon request but was not rulingy out building the project when theeconomy