March 20, 2017
Paramount Health Resources Inc. is expanding into Central Ohio, with plans to build a $21 million, 100-unit complex in Westerville, OH. The Pittsburgh, PA-area developer is negotiating for the site at Polaris Parkway and Worthington Road, and plans to launch construction on the three-story, 85,000-square-foot facility in July 2017.
The company, which had operated in the region in the mid-2000s, is looking for other sites on which to build more seniors housing. “We identified Central Ohio as the next market, because of the growing senior population there,” Paramount’s Chase Darmstadter told Columbus Business First. Though some Central Ohio financiers are worried that too much building is happening ahead of the next demographic wave, “there’s a lot of new inventory, but there’s also a lot of old inventory,” Darmstadter said.
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