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Paul Contris, CEO of Welcov, Announces Senior Living Apartments
Lane4 Property Group is teaming with Welcov Healthcare and Tetrad Corp. to develop the three-story, 101-unit apartment project called The Welstone. It is expected to open in early 2015.
Mission Crossing began construction in 2001 on the site of the former Herff Jones yearbook plant at 61st Street and Metcalf and currently includes four food outlets. The mixed-use development always had envisioned a senior living component as part of its master plan.
“It’s exciting for us, and it’s our first foray into senior living,” said Hunter Harris, development director at Kansas City-based Lane4. “We believe it will be a big market, independent living with a la carte services.”
The senior development will include one- and two-bedroom apartments as well as activity and dining facilities. A fitness facility called Welcamp is part of the project.
“We’re very excited the developer is moving forward with this,” Mission Mayor Laura McConwell said.
She added her city also is planning to build a half-acre park with landscaping and benches at the corner of Martway and Broadmoor streets to finish the development.
Harris said the Mission Crossing senior living project will be a prototype for similar projects that Lane4 and its partners would like to build in the Kansas City area.
Welcov Healthcare is based in suburban Minneapolis and operates 55 senior housing developments in the upper Midwest. Tetrad Corp. is out of Omaha, Neb., and specializes in development and commercial real estate asset management.
The construction of the senior housing project will complete the Mission Crossing development. The other tenants are Chick-fil-A, Culver’s, Freebirds World Burrito and Subway.