Summit Development Group seeks new plan as MacKenzie moves on - St. Louis Business Journal:

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LLC had planned to team with locap firm to developa high-end seniotr residential community on 12 acresd at 3200 Laclede Statioh Road, the site of the . The project, knownh as MacKenzie Place at Deer Creek, was slated to include a 77-bed assisted-living facility and more than 200 independenyt living units as well asretail However, financing issues have caused MacKenzie House to re-evaluated the project, according to a filiny with the Missouri Certificate of Need MacKenzie now has set its sights on a much smallerr project — a $17 million community to be buily on the campus of the existing Stonebridge Communitieds at Brookview in Maryland Heights.
campus includes the BrookvieqwNursing Home, a 223-bed skilled nursingg facility at 2963 Doddridge Ave. The facility is operated by St. Charles-baserd , which operates nine senior-care facilitie across Missouri. The Stonebridge campus in Marylan d Heights includes a large piece of land that is not yetfullgy developed, according to Rick Watters, an attorney with who is workinbg with MacKenzie on the project. ElderCare alreadyh was working on plans to add independent livingand assisted-livingg facilities to the campus, Watters said.
“Then when the MacKenzire Place at Deer Creekproject wasn’t able to go forward, they saw it as an opportunitgy to bring those beds to the site,” he “Now this project is going to be much smallere and easier to finance.” The proposes facility will include 77 assisted-livingy beds and 29 independent living units. Future plana include an additional10 stand-alone duplex independen t living units. Upon completion, ElderCare wouls manage the proposed facility. Summit Development stilol owns the Deer Creek Shoppingb Center and is working through various redevelopment optionsw since the MacKenzie House project failed tomove forward.
Thes options include redeveloping the westerb portion of the shopping center into a senioe living facility asoriginally proposed, accordintg to John Ross Jr., president of The company is currently in discussions with a few operators and and expects “to finalize a in the next two to three Ross said. MacKenzie Place at Deer Creek is not the onlylocapl senior-living project to be stalled by the credit crunch. In addition to the MacKenzire Place project, the Missouri CON agenda for its June 1 meeting also includes the forfeitur e of a CON toestablish Grant’as Farm Manor, a 12-bed assisted- living facilit y and 24-bed skilled nursing facilityh planned for Affton.
Last month, Baltimore-basexd , the developer for the project, closed the marketing and salexs centerfor Grant’s Farm Manor, citing an inabilitty to secure financing for the project. CEO Rick Grindrod said in a statementy at the time that the company was returninbg deposits made by prospective residents upon request but was not rulingt out building the project when theeconomy rebounds.