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With $174 Million In Financing Secured, Park Place Of Elmhurst Prepares To Build

Providence Life Services Takes Next Step on New Life Care Community

 
PRLog - May 27, 2010 - ELMHURST, Ill. — The new Life Care community Providence Life Services has been pledging to build in Elmhurst will start construction on June 1, 2010, now that $174 million in financing has been secured.

Park Place of Elmhurst will be home to more than 200 seniors who have already placed reservation deposits on one-, two- or three-bedroom apartments within the community, located on 12 acres off Butterfield Rd., and Prospect St. The community, which is nearly 80 percent reserved prior to construction commencing, will welcome its first residents in approximately 18 months. A groundbreaking ceremony for future residents and community officials has been scheduled for June 23, 2010.

“Completing our construction financing is a testament to the support we received from seniors who are seeking to enhance their rewarding daily lifestyle, while also putting a plan in place no matter what the future brings,” said Don Englesman, Vice President of Marketing New Development for Providence Life Services. “Before you can finance construction of a new Life Care community, you typically need to have 75 percent of the residences reserved. We surpassed that goal, because so many people love the vibrant retirement atmosphere created by the combination of our Park Place community and the surrounding Elmhurst area.”

Park Place of Elmhurst will offer maintenance-free living in 173 apartment homes, surrounded by an impressive array of amenities, including restaurant-style dining, a fitness center complete with indoor pool, creative arts studio, media room, club room and ample underground parking. The community will also take part in intergenerational programs through a partnership with neighboring Timothy Christian School.

“The community we are building is designed for people who continually strive to get more out of their lives, whether continuing a lifelong love of learning, focusing on their wellness and fitness goals, or celebrating with new friends,” said Engelsman. “At the same time, they want health services that will help them maintain their lifestyle in the event of short-term illnesses, and provide care for them if they have a long-term situation down the road.”

In addition to independent residential living apartment homes, Park Place of Elmhurst’s continuum of care includes 46 assisted living apartments, 20 memory support suites and 37 skilled nursing private rooms, all on campus, to provide services and support for residents, if needed in the future.

“Many of our future residents have adult children who have built successful lives throughout the country and are raising their own families,” said Englesman. “With Life Care, our residents know that their children won’t have to uproot their lives to provide care for mom and dad, or help move them to get their needs met. Our community will meet their future needs for quality and compassionate care all within the one campus we are building.”

Park Place of Elmhurst will operate on an entrance fee model, in which residents pay a one-time entrance fee, which can be up to 90 percent refundable. This entrance fee, combined with a smaller monthly fee, gives residents access to all the community’s services and amenities. Park Place of Elmhurst’s Life Care benefit provides for predictable health care expense through on-site care at a greatly reduced cost to residents, who need such care.

Park Place of Elmhurst will be Providence Life Services’ first true continuing care retirement community. The faith-based, not-for-profit organization, headquartered in Tinley Park, Ill., has been serving seniors for 90 years. Providence Life Services was formerly known as Rest Haven Christian Services.

“The start of construction on Park Place of Elmhurst represents a tremendous opportunity for us to extend our mission of benefiting seniors, right here in the Chicago metro area,” said Providence Life Services CEO Rich Schutt. “As our organization celebrates this new community, we also are able to provide vital economic development in Elmhurst through construction spending, construction jobs and permanent career positions.”

For more information on Park Place of Elmhurst, its unique lifestyle, its Life Care benefit and available residential floor plans, please call (630) 333-4343, visit the community’s Information Center at 360 West Butterfield Road, Suite 100, in Elmhurst, or see a virtual tour online at www.parkplaceelmhurst.com.

About Providence Life Services
Founded and supported by local Reformed and Christian Reformed churches, Providence Life Services (formerly known as Rest Haven Christian Services) has served thousands of retirees in the past 90 years. Providence Life Services offers the complete spectrum of senior services, including Independent Town Homes, Retirement Living, Assisted Living, Sheltered Care, Alzheimer's Support programs, Intermediate Care, Home Health Services, Hospice Care, Respite Stays, Rehabilitation Services, and Skilled Nursing Care. Each new service has been developed in response to an observed need. Providence Life Services is committed to enhancing life and preserving independence.  Information on Providence Life Services is available online at www.providencelifeservices.com.

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Contact Email:
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Source:Anne Bassett, GlynnDevins Advertising & Marketing
Industry:Health, Real Estate, Business
Tags:park place of elmhurst, seniors, senior living community, retirement, providence life services
Last Updated:May 27, 2010
Shortcut:prlog.org/10702774
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