Northstar Commercial Partners enters senior living market
Representatives of Northstar and Balfour and others break ground. (Photo: Balfour Senior Living)
Northstar Commercial Partners entered the senior living space April 25 with the groundbreaking of a 63,000-square-foot assisted living and memory care community in Denver, where the company is headquartered. Balfour Senior Living will operate the property.
The community will be built on a 1.56-acre vacant parcel of land. Construction of the community, with 58 assisted living units and and 16 memory care units, is expected to be complete within a year. Services and amenities will include a salon, farm-to-table dining, chauffeured transportation, a fitness center and themed common areas for educational and event programming, according to Balfour.
“This investment allows Northstar the opportunity to improve a vacant land site and construct an establishment that ensures the health, safety and well-being of senior residents while making a positive contribution to the community,” said Brian Watson, who founded the privately held commercial real estate investment company in 2000 and is its CEO.
In a statement on his company's website, Balfour founder and CEO Michael K. Schonbrun said, “This new project will incorporate all we have learned from our nearly 20 years of developing and operating senior housing, and we are excited to bring a Balfour community to a new neighborhood in Denver.”
Davis Wince, Ltd., has been selected as the architect firm, and Brinkmann Constructors is the general contractor for the project.
Northstar said it is in the process of developing several other senior living and medical facilities throughout the United States.