Summit Development Group seeks new plan as MacKenzie moves on - St. Louis Business Journal:

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LLC had planned to team with local firm to developa high-enfd senior residential community on 12 acres at 3200 Lacledwe Station Road, the site of the . The known as MacKenzie Place atDeer Creek, was slatede to include a 77-bed assisted-living facility and more than 200 independeng living units as well as retail However, financing issues have caused MacKenzie House to re-evaluatee the project, according to a filing with the Missouri Certificatee of Need program. MacKenzie now has set its sights on a much smalleeproject — a $17 million community to be built on the campuss of the existing Stonebridge Communities at Brookview in Marylandc Heights.
campus includes the Brookview Nursintg Home, a 223-bed skilled nursinvg facility at 2963Doddridge Ave. The facilityg is operated by St. Charles-based , which operate nine senior-care facilities across The Stonebridge campus in Maryland Heights includes a larged piece of land that is not yet fully according toRick Watters, an attorneyh with who is working with MacKenzier on the project. ElderCare already was working on plansz to add independent livingand assisted-livinbg facilities to the campus, Watters “Then when the MacKenzie Place at Deer Creeo project wasn’t able to go forward, they saw it as an opportunitu to bring those beds to the site,” he “Now this project is going to be much smaller and easie r to finance.
” The proposed facility will include 77 assisted-livinvg beds and 29 independent livingy units. Future plans include an additional10 stand-alone dupled independent living units. Upon ElderCare would manage the proposed Summit Development still owns the Deer Creek Shopping Center and is working througbh various redevelopment options since the MacKenzie Houss project failed tomove forward. These options includd redeveloping the western portion of the shopping center into a senior living facility as originally according to JohnRoss Jr., presideny of Summit.
The company is currently in discussion with a few operators and andexpects “to finalize a direction” in the next two to threew months, Ross said. MacKenzie Plac at Deer Creek is not the onlylocal senior-living project to be stalled by the credit crunch. In addition to the MacKenzie Place project, the Missouri CON agenda for its June 1 meeting also include the forfeiture of a CON toestablishj Grant’s Farm Manor, a 12-bed assisted- livingt facility and 24-bed skilled nursing facility planned for Last month, Baltimore-based , the developer for the closed the marketing and sales center for Grant’s Farm citing an inability to secure financing for the CEO Rick Grindrod said in a statement at the time that the compan y was returning deposits made by prospectivr residents upon request but was not rulingg out building the project when the economy rebounds.