HUNTLEY – The Chicago company behind a $31.8 million senior living development in Huntley will look to secure financing after receiving the go-ahead from a state panel to construct the project.
The Illinois Health Facilities and Services Review Board unanimously approved, 7-0, during a meeting Wednesday Alden Realty Services' plans to build a 14-acre nursing and independent living complex for Huntley seniors.
The panel saw past its initial concerns that similar facilities in surrounding communities were underused. Alden now will turn its attention to financing the multimillion-dollar development with an eye toward breaking ground in Huntley by spring 2015 at the latest.
"We are very excited that Alden of Huntley will be part of the growing Huntley community," Alden President Randi Schullo said. "Alden has a long tradition of providing top-notch care in a five-star setting, and we cannot wait to share this and more with our new community."
The Huntley facility would be located at the northwest corner of Regency Square, off Route 47, and include a 110-bed nursing and rehabilitation facility, a 60-bed memory care building, and a 91-unit independent senior living complex.
Alden already operates similar facilities in southeastern Wisconsin and the Chicago area, including Des Plaines, Naperville and Aurora.
The health facilities board's endorsement of the Huntley project came after the board detailed concerns that it may have duplicated services of underused facilities in the area. Members found that 14 senior living facilities from Woodstock to Elgin had not met a 90 percent occupancy rate.
But the panel saw past the trepidation since the Huntley project lacked opposition and would provide skilled care to seniors in nearby Sun City, a retirement community roughly a mile away from Regency Square, Schullo said.
Alden already had cleared another project hurdle last week, when the Huntley Village Board signaled support for the company's preliminary design and rezoning request.
Village Manager Dave Johnson and his staff have been working closely with Alden officials in developing the project, which should bring a significant investment and 200 permanent jobs to Huntley.
"Having the opportunity to have this project next to Sun City is a benefit to the entire community," Johnson said.