Proposed $14.6M U City Assisted Living Facility Seeks Delay to 2020

By on May 14, 2019

From St. Louis Business Journal:  The developer of a planned $14.6 million assisted living project in University City initially scheduled to open in August is asking the state of Missouri to allow the project’s delay until 2020 due to the recent federal government shutdown.

In a newly submitted Request for Extension filing with the state of Missouri, Kingsland Walk Senior Living, stated it needed more time because to finish site development and begin framing and that the U.S. Department of Housing and Urban Development (HUD) loan approval process was delayed because of the shutdown.

Kingsland Walk Senior Living, located at 868 Kingsland Ave., is a four-story, 58,624-square-foot facility which would offer 46 assisted living apartments and 19 memory care rooms for its residents.

According to Stephanie Harris, CEO of Arrow Senior Living, which will manage the location, the facility is a HUD Section 232 loan project, and will now open “in the first part of 2020.”

A HUD Section 32 is a loan that is used to finance the purchase, refinance, new construction, or substantial rehabilitation of a project, according to the government’s website.

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