Burlington County Times
MOUNT LAUREL — A 75,000-square-foot, 88-unit senior housing complex is coming to town, with developers planning to break ground next month.
Arbor Terrace is next to Laurel Acres Country Club at the corner of Creek and Centerton roads. The apartments will be market rate and a mix between assisted living and memory care.
The $28.4 million complex is scheduled to open in September 2018 and will feature a bistro, theater room, art studio, technology lounge, fitness/rehab center, sports theater and courtyard.
Arbor Terrace will be the first community in the county built by Capitol Seniors Housing of Washington, D.C. When looking into the area, the company considered a list of demographic factors that included the senior population, number of qualified caregivers and median household income, according to Scott Stewart, managing partner of Capitol Seniors Housing.
“This is a great market for us to get into,” Stewart said. “We think it’s a beautiful community. It’s got wonderful folks who have lived here all their lives, and we want to make sure they have a good alternative where they can stay in the community instead of moving out of town.”
The apartments will feature spacious layouts that are more in line with a high-end hotel rather than a senior living facility, he said. Specific monthly rents were not provided.
“We are super excited about this, and we promise to build a fantastic community that people can call their home,” he said.