Developers now start to crowd seniors housing market
LOS ANGELES: Developers are starting to crowd one of the few remaining growth markets in the building sector.
A developer in Westphal is switching from townhomes to a pair of seniors’ living developments.
Quest Capital Inc. applied to change the 2014 development agreement to allow for the “intensification of the approved residential development.” A previously approved four-unit townhome building that has already been built nearby.
But the new plan is for two retirement living buildings, one will have seven storeys, the other has six storeys. They will have 300 units each, underground and surface parking as well as rooftop and outdoor courtyards. They will also have commercial spaces on the ground floor.
Two residents spoke out against the development at the public hearing on Monday night, citing concerns including the road easement and access, environmental impact on the nearby lake and traffic congestion. The community council approved the development application on Monday and after a two-week appeal period, the developer may apply for permits.