Sunday, October 25, 2020

Rockwood at Whitworth completes financing for a massive redevelopment in North Spokane

 Rockwood Retirement Communities has successfully completed the second round and final bond financing for the complete re-development of their existing site in North Spokane. The company is already actively converting the property, formerly known as Rockwood Hawthorne, into Rockwood at Whitworth as part of a massive $120,425,000 project that both expands and updates the complex. 

It also marks a new partnership in-between Rockwood and Whitworth University where the two look to promote intergenerational opportunities for residents by giving them discounted courses and privilege's to the library, athletic and preforming arts events at the University. In exchange, Whitworth students will have employment, internship and other intergenerational opportunities with the residents.

The re-development project is being done in phases, where the second bond financing of $81,355,000 will be used to build the second phase consisting of independent apartment homes and common amenities. The project is being completed with a phased approach to allow residents to move into first building, which is scheduled for completion in March of 2021. 

Photos and renderings used are courtesy of Rockwood Retirement Communities.

The first phase, Plavella Glen will feature 48 assisted living apartments and 24 memory support suites. All current residents have chosen new apartments within Plavella Glen and Rockwood is planning a " white glove" move on moving day . They intend to have a hospitality suite set up where residents can relax while the professional movers pack and unpack.

The second phase of construction, which is expected to take about 20 months to complete, will feature 117 independent living apartments and a array of amenities and services, including: Multiple dining venues, Theater, Coffee shop/ smoothie bar, salon/spa, a multipurpose event space, outdoor courtyards, fitness center, underground parking for residents and a bar/lounge. 

"With our first phase of construction nearing completion, it is wonderful to see the future of retirement living becoming a reality. Our second phase, the independent living building is already over 83% pre-sold, which shows there is a great response from the community-at-large to our new vision for retirement living " said Alan Curryer, Rockwood Retirement Communities President and CEO.

Spokane based NAC Architecture and Walker Construction, Inc. are responsible for the project's design and construction, respectively.  For more information on Rockwood Retirement Communities, visit their web site at - http://rockwoodretirement.org