New York Real Estate Journal

Calamar completes final phase of $30 million senior housing complex

March 19, 2010 - Brokerage
Calamar has opened the doors to residents in a new three-story, 92-unit senior apartment facility. Forestview Senior Village is an enhanced, yet affordable, independent living apartment complex with no income restrictions. Located within The Woodlands Residential Village (a division of The Woodlands Corporate Center East), the new apartments accommodate persons age 55+ with autonomous living facilities. Forestview Senior Village is the final phase of a three-phase development representing one of the largest senior housing investments in the area. Calamar has dedicated over $30 million of capital investment creating a total of 300 units in the 26-acre Woodlands Residential Village. The architect was Silvestri Architects. The Woodlands Corporate Center East opened in 2005 as a mixed-use development comprised of over 120-acres. The development includes commercial, industrial, office and flex opportunities, as well as the senior housing element, and thirty-four private residential patio homes bordering a 6-acre man-made lake with a gazebo at the end of a peninsula that features entertainment in the summer months for the residents to enjoy. The park is being developed to combine these various properties in individual park settings that transition through each section with an abundance of landscaping. Walking trails complement the park for both residents and businesses and their employees. "I am very excited with Calamar's vision in developing a senior community unlike anything I have ever experienced in my entire career in senior apartment living," said Sam Reeder, assistant director of senior services for Calamar. "Forestview Senior Village will definitely fill the void in the senior apartment industry by providing a much needed alternative to the expensive, amenity driven options that are available in WNY. The Woodlands Senior Campus provides essential solutions for our senior community and we invite you come visit us." "We strongly believe in this program and welcome the opportunity to offer a viable solution to a growing need despite the economic downturn," said Calamar president Kenneth Franasiak. "In fact, this model specifically addresses the financial concerns this country will be experiencing for the foreseeable future."