Savage Senior Living Paves the Way for Expansion | Wild news
The construction of an expansion of Savage Senior Living in Fen Pointe is underway.
The project will bring a new four-storey wing to the facility, offering 28 units for assisted living and independent residents. The construction plans also include 23 additional underground parking spaces.
According to Axial Real Estate Advisors, LLC – the Minneapolis-based real estate investment and advisory firm working on the expansion project – Savage Senior Living continues to experience “strong rental activity” before and during the pandemic.
Market projections also indicate continued demand for additional senior housing, according to Axial.
The retirement home, formerly known as Cherrywood Pointe, opened in July 2015. The four-story complex is located northeast of the Savage Public Library and borders the Savage Fen Science and Nature Area.
Construction of the new west wing is expected to be completed in spring 2022.
Several new senior housing complexes have been developed in Savage in recent years, including the 32-unit Rivers of Life facility and the 40-unit Summers Ridge of Savage facility.
Earlier this summer, Savage officials approved plans for the construction of a 150-unit seniors’ unit on the Loftus Farm property at County Road 42 and Dakota Avenue.
The complex, which will be owned and operated by Southview Senior Communities, is expected to be Savage’s largest senior care facility.