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A $47M CCRC modern overhaul

June 14, 2016
by Nicole Stempak, Senior Editor
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A turn of the century estate is getting a modern update.

Village Shalom will spend $47 million to overhaul its Overland Park, Kans., continuing care retirement community, the first major changes since 2000.

Many of the upgrades to the nonprofit retirement complex, sponsored by the Jewish Community Center of Greater Kansas City, are in response to “the changing needs in our industry and the reality of a highly competitive industry,” says Matt Lewis, Village Shalom president and chief executive, to The Kansas City Star.

A year-long strategic plan identified independent living units as the community’s biggest need. Buy-in fees are to be determined but are likely to bet between $280,000 and $340,000.

The plan includes:

  • 60 one- and two-bedroom independent living apartments in a new four-story building;
  • 13 two-bedroom villa-style independent living residences;
  • a new freestanding household model memory center with four 12-resident households (two each for assisted living and skilled nursing), therapy space, salon, chapel and adult day care center;
  • a new 12,000-square-foot “common area” with a dining center alternative for independent living residents, pub, theater, library, media center, day space and outdoor community space; and
  • a remodeled short-term rehabilitation center with 24 private, short-term suites and a 5,000-square-foot therapy gym with new equipment and aquatic therapy.

Construction is scheduled to begin in spring 2017 and are funded by independent living entrance fees, issuance of tax-exempt fixed-rate bonds and a capital campaign yet to begin.