juanmilwaukee
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Saint John's New Tower
Any information on the new residential tower that Saint John's is planning at their Prospect Avenue complex?
I believe the Business Journal had an article which mentioned they were in the planning phase of the addition.
They have land available for development north and south of their complex and they have a waiting list for residents.
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1/28/2007, 12:39 pm
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juanmilwaukee
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Re: Saint John's New Tower
The Milwaukee Small Business Times reported that St. John's is in the development phase of an expansion onto the parking lot south of their complex. The article notes that the new tower would exceed the height of their current tower.
Here is the article:
Saint John's on the Lake, a complex of senior apartments, assisted living suites and skilled nursing home beds at 1840 N. Prospect Ave. on Milwaukee's east side, is making plans for an expansion.
"We're certainly looking at that as an option," said Kathleen Eilers, president of St. John's Communities. "We're at the stage of looking at what the options are and gauging the market interest."
The expansion would be built on the parking lot on the southern portion of the St. John's site. The complex, built in 1979, currently has 120 independent senior apartments in a 10-story building connected to a three-story building with 20 assisted living suites and 52 skilled nursing home beds.
Saint John's is contemplating a 100-unit expansion of the independent senior apartments, Eilers said. The new building for those apartments could be taller than the complex's 10-story tower, because the new apartments will probably be larger than the existing ones and the new building will likely include additional amenities such as a swimming pool and a fitness center, she said.
"One of the things we see is people today are interested in larger apartments," Eilers said. "It probably would be bigger (than the current tower). It well might be taller."
Saint John's on the Lake will host a series of informational sessions to gauge market interest in the project.
"We're in the test-the-market stage," Eilers said. That process will probably last through the summer, she said.
The property's location along Prospect Avenue is on top of a bluff that overlooks Lake Michigan. In large part because of those lake views, Prospect Avenue is a prominent Milwaukee address that has attracted several high-end, high-rise residential developments.
The aging of the baby boomer population is creating a growing market for senior apartments.
"We think we have something special to offer," Eilers said.
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4/29/2007, 10:49 am
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