Why this multimillion-dollar East End project is running way ahead of schedule

The demand is high for units at Masonic Homes of Kentucky, and the supply should come months sooner than expected as a result. The Louisville senior living community had expected to start work early next year on The Meadow, which will add 122 apartment-style independent-living homes to the campus. But that’s been moved up to Wednesday, Sept. 14.

Before the project could move forward, the community had to presell 75 percent of the new units — and that happened a lot sooner than leadership had originally expected.

According to vice president of communications and marketing Nicole Candler, the community already met that goal thanks to a well-performing marketing campaign. For example, she said Masonic Homes saw a “good response” from a series of seminars it held with prospective residents.

As a result, the community should be able to secure the bond-issue financing for this project and another one, which together will total a little more than $80 million. The Meadow was originally expected to open in mid-2018, but we’re waiting to hear back on whether it’s now expected to open sooner, although simple math would seem to point to that happening.

The Meadow project was originally expected to cost $66 million, but Candler said Tuesday the projection is now $44 million. She said a new construction manager has been brought on, resulting in “efficiencies and cost savings” because the project can be combined with another one.

Work on the other project, a 48-unit assisted-living community called Grove Pointe, is expected to begin in the next six months.

Last we heard, the 82-acre campus at 3701 Frankfort Ave. had about 560 independent-living, personal-care, skilled-nursing and memory-care units.

The Meadow would nearly double the Miralea community, which opened in 2012 with 90 apartment units and 12 patio homes. Meadow residents would have access to Miralea facilities, plus a movie theater, spa, beauty salon, an art studio and art gallery in the new building.

Both projects are being handled by development consultant Greystone; AG Architecture; engineering and planning consultant QK4; interior designers Reese Design Collaborative; and Paul Mattingly/Congelton Hacker Contractors.

Residents of The Meadow must be 62 or older. That community also will offer life care, which provides estate protection and helps offset the cost of potential future medical costs.

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