An estimated 120 new construction jobs are expected now that Presbyterian Villages of Michigan has broken ground on a $3.4 million senior housing community in Kalamazoo.
Presbyterian Villages of Michigan
(PVM) received a multi-million dollar grant from the U.S. Department of Housing and Urban Development (HUD) to build the 38-unit senior apartment community at Sage Street south of Stone Brook
Road. The funds are intended to help low-income seniors live safe, independent lives and promote construction jobs.
The development will offer one-bedroom apartments of approximately 600 square feet as well as a community room, laundry facilities, lounge areas and library/internet cafe.
Potential residents are 62 years of age and older and have a gross annual income of $22,000 or less for one person and $25,150 or less for a two-person household. Rent is based on 30 percent of residents' adjusted gross annual income and the remaining rent is covered by HUD.
Roger Myers, president and CEO of Presbyterian Villages of Michigan, says he is pleased to offer this opportunity to the Kalamazoo community. "It reflects our mission to extend a hand to all seniors of all faiths throughout Michigan." The Village is PVM's 25th senior living community in the state.
Results of a market study from Community Research Services LLC, show the development is needed because the primary market area for the project will experience a 17.9 percent increase in population of seniors age 62 and older by 2013 and a county-wide increase of 25.5 percent for the same demographic.
PVM, headquartered in Southfield, is a faith-based, multi-site nonprofit that offers continuing care retirement communities, including apartments, assisted living, and skilled nursing, subsidized senior housing and market-rate senior housing.
Writer: Kathy Jennings
Source: Dawn Dyer Magretta, Presbyterian Villages of Michigan
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