Monday, November 27, 2006

Senior Condos Take Shape in Bethesda

Sunrise Senior Living Management has begun construction on its latest senior living condo project, a 323 unit complex at the junction of River Rd. and I-495 in Bethesda. Built on a 16-acre site that had been forested until construction began, Fox Hill will provide 240 condominium units built in semi-traditional Craftsman style, as well as 83 assisted-living rental units when the project is complete in the first quarter of 2008. Located adjacent to a golf course, Fox Hill will offer a putting green, spa and full concierge amenities, as well as an additional assisted-living center with 83 rental units and 24-hour nursing care. This is the fourth local project for McLean-based developer Sunrise, which claims itself as the largest provider of senior living services in the country and is concurrently developing the Residences at Thomas Circle in downtown DC. Fox Hill began sales of its units, which range from $450,000 to $1.6 million, in mid 2005 and reports that more than 50% of its condos have sold.

The project follows shortly on the heels of the closing of Canyon Ranch, the massive mixed-use project nearby that targeted seniors but failed to reach critical mass and pulled the plug in August of this year.



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