Russell’s Second senior living project succeeds upon opening
There doesn’t seem to be such thing as perfect timing as it relates to opening a senior community during a pandemic, but our most recent community may have come close. It’s been six weeks since The Landings in Batavia, Illinois opened its doors to the first residents, and so far it is 7% ahead of plan.
The Landings is the second senior community Russell has brought from conception to reality in the last few years with Omaha-based operator, Dial Senior Living. “Russell fit the bill for this project because they understand the importance of building for the future. They take the time to listen to our vision and incorporate their own experience and expertise into making it a reality,” said Ted Lowndes, President of Dial Senior Living.
Situated on 6.7 acres of rolling countryside adjacent a bustling commercial corridor, The Landings new, 142-unit senior living campus offers Batavia and surrounding communities a variety of lifestyle options. The building provides distinguished entrances for both independent living and assisted / memory care residents. There are scenic vista views of wetland prairiescapes throughout, along with interior connections to purposeful outdoor gardens and patio spaces, which are key elements of post-COVID design strategies.
The Landings includes 62 apartments of independent living, 56 apartments of assisted living and 24 memory care studios. Whether a studio, one bedroom or two bedroom, all of the independent and assisted living apartments are provided with an outdoor balcony. Independent living residents have washers/dryers within the living space and resident access to connected underground heated parking. All residents have the ability to utilize the building’s Town Center which features multiple dining venues, a pub, bistro, wellness center, salon, theater, concierge and community activity and gathering spaces.
To see the success of this community right out of the gate is very exciting for us. Russell’s role in this project is multi-faceted, as equity partner, co-developer and design/builder we are fully vested in the success of the project. We, in our role as co-developer of the project, identified desired partners; sourced the site; provided extensive entitlement services; established equity and debt relationships; and ultimately facilitated the comprehensive solution to meet the established project goals. We were also able to help navigate the complications of constructing in a pandemic by serving as the owner’s representative throughout. “We felt this project had great potential for success from the minute the idea was conceived. It was not without its challenges, but to see it completed and achieving this early success validates that feeling and excites us to get the next senior living project started,” says Jennifer Smith, Russell’s Corporate Counsel.
“The Landings is a great example of what happens when you partner with two best-in-class organizations like Dial and Russell. The outcome is a Class A+ community that offers the highest level of care, service, and amenities for residents,” said Dustin Warner, a Director at Harrison Street.
Since 1999, Dial Senior Living has provided seniors, spouses, and families with the living options they need to enjoy their lives without having to worry about maintenance issues, housekeeping matters or security. For more information, please visit dialseniorliving.com.
Harrison Street is one of the leading investment management firms exclusively focused on alternative real assets. Since inception in 2005, the firm has created a series of differentiated investment solutions focused on demographic-driven, needs-based assets. The firm has invested across senior housing, student housing, healthcare delivery, life sciences and storage real estate as well as social and utility infrastructure. Headquartered in Chicago with offices in London and Toronto, the firm has more than 190-employees and approximately $33 billion in assets under management. Clients of the firm include a global institutional investor base domiciled in North America, Europe, Middle East, Asia and Latin America. Harrison Street has been awarded Best Places to Work by Pensions & Investments for the last seven consecutive years and was named 2020 Global Alternatives Investor of the Year by PERE. For more information, please visit www.harrisonst.com.