Ryan Companies US, Inc., Life Care Servicesä, an LCS Company and Harrison Street Real Estate Capital were joined by Governor Mike Parson, Missouri State Senator Bill Eigel, Representative Phil Christofanelli and Mayor Len Pagano along with other officials to celebrate the groundbreaking of Clarendale of St. Peters. The upcoming $55M senior living community is the first Clarendale in the St. Louis region, with a second $100M community planned in Clayton. The two represent a committed investment to the St. Louis region, and combined is expected to generate over 500 jobs during construction and add another 85 permanent jobs to the market.
In addition to the positive economic impacts, Clarendale of St. Peters will provide continuum of care services to the growing population of St. Peters and St. Charles County. Clarendale of St. Peters will include 112 independent living suites and villas, 64 assisted living suites, 38 memory care suites along with amenities that meet the social and physical needs of the residents.
“Ryan Companies has experienced a genuine excitement from the community for Clarendale of St. Peters and how it will serve the growing population in St. Charles County”, said Dave Erickson, Vice President of Real Estate Development at Ryan Companies. “The local and state officials represented their constituents well and worked hard to bring this new $55M investment to St. Peters”.
Clarendale of St. Peters is located at the southeast corner of Mexico Road and Dubray Drive just south of Mid Rivers Mall in St. Peters. This represents the 8th new Clarendale community among the partnership of Ryan Companies, Life Care Services and Harrison Street. The partnership now has over 1,500 senior living units open or under construction.
Ryan Companies is the developer and general contractor of the development. SM Wilson serves as the prime subcontractor and Vessel Architects as the architect. LCS, the second largest senior living operator in the US, will manage and serve the community. The community started construction in August and will be available for residents in early 2020.
“LCS is honored to be serving seniors in the St. Charles community,” says Chris Bird, EVP/Director of Rental for LCS. “The Clarendale of St. Peters will be a beautiful space with first rate services that meets the growing demand for this type of a senior living community.”
Erickson added, “Ryan Companies and our partners are already planning a second investment in the St. Louis region with the upcoming Clarendale community at Clayton and Hanley Road.” The second St. Louis development, Clarendale of Clayton, received Certificate of Need approval from the State in May and plan, plat and rezoning from the City Board of Alderman in August. Clarendale of Clayton is planned to break ground in early 2019.
Based in Des Moines, Iowa, and established in 1971, LCS is a leading provider of high-quality senior lifestyle products and services. The LCS Family of Companies focus on development, operations management, marketing and sales management, and strategic planning for Life Plan Communities, formerly referred to as Continuing Care Retirement Communities (CCRC), and rental independent living, assisted living, and memory care communities nationwide. The company also provides a full-service real estate private equity enterprise, insurance, national purchasing consulting services and in-home care. The companies of LCS serve thousands of seniors across the nation. For more information, visit LCSnet.com.
About Life Care Services®
Life Care Services, An LCS Company, established in 1971 and based in Des Moines, Iowa, is the third largest manager of full-service senior living communities. Life Care Services currently provides operations, and marketing and sales management services for not-for-profit and for-profit Life Plan Communities, formerly known as Continuing Care Retirement Communities (CCRC), and rental independent living, assisted living, and memory care communities nationwide. For more information, visit lifecareservicesLCS.com.
About Harrison Street
Harrison Street Real Estate Capital LLC is one of the leading real estate investment management firms exclusively focused on the Education, Healthcare and Storage sectors. The firm has created a series of differentiated investment strategies across multiple risk/return platforms. Headquartered in Chicago, the firm employs a 125-person team and has approximately $15.6 billion in assets under management. For more information, please visit www.harrisonst.com.