Houston: Buckingham senior community to add $56M towerHouston: Buckingham senior community to add $56M towerhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=30732014-09-15T12:13:00Z2014-09-15T00:00:00Z

HOUSTON - The Buckingham, a full-service 323-unit community for seniors in the Memorial area, has announced plans to build a $56 million, ten-story residential tower just west of its 17-acre campus at 8580 Woodway.

The expansion will add 104 independent living apartments, 33 assisted-living suites, 18 memory care residences and 32 private skilled-nursing rooms.

The independent living units will include one-, two- and three-bedroom plans.

The community is acquiring a portion of the Creekside Apartments on six acres from CRVI Westpoint in early October. The apartments will be torn down to make way for the expansion, planned to open in 2017.

The Buckingham currently consists of a four-story property along Buffalo Bayou. The independent living portion of The Buckingham has been operating at capacity since 2007, and the health care center has been full since 2008.

The Buckingham will break ground once 60 percent of the independent living units have been presold, likely in third quarter 2015.

A monthly fee averaging $4,300 for a two-bedroom independent living apartment covers meals, transportation, housekeeping, utilities, lifestyle programs and wellness activities.

Around Houston, developers are adding communities to meet the needs of an aging population. In 15 years, one in five people will be at least age 65, according to a recent study by Harvard University and AARP.

Houston Chronicle
Houston-The Woodlands-Sugar Land
Senior Living
http://www.houstonchronicle.com/business/real-estate/article/Deal-of-the-week-Senior-community-growing-5752846.phpRead more at {Source}

 Search NewsTalk Texas