TRAVERSE CITY — The owners of senior housing development The Village at Bay Ridge Senior Community are building a new project, The Village at LaFranier Woods Senior Community.
“Having had a presence in the market for the last 20-plus years, we decided that Traverse City — and the senior population of Traverse City — was ready for some additional affordable and market rate senior housing,” said Melissa Saterfield.
Saterfield is one of nine family members actively involved in running Grand Haven-based Heritage Senior Communities, which operates more than a dozen facilities across the state that include 1,600 units of multi-family and independent housing and 700-plus assisted living units.
The company employs 850 people, including about 45 in Traverse City the at Bay Ridge facility, home to 240 independent residents plus 50 assisted living residents.
The first phase of the new development on LaFranier includes the three-story, 115-unit building now under construction and 12 cottages, each a duplex, triplex or quadplex. All will be rented as senior independent housing. The company has begun “some very basic pre-leasing,” Saterfield said.
A planned second phase of development — depending on market demand — on the 36-acre property will include a second three-story, 115-unit building and another 28 single-story multi-tenant cottage units. A potential third phase would include 100 units of assisted living and memory care.
Half the units in the LaFranier development are reserved for seniors at or below 60 percent of the area median income, said Saterfield.
More information is available at HeritageSeniorCommunities.com or 231-883-0078.