August 21, 2017
Developers are building apartment towers for seniors in New York City — providing hard-to-find housing for elderly people who need some help with healthcare, but aren’t ready for a nursing home.
“We’re seeing people who are in New York, wanting and demanding to live in New York, but there’s really nothing available,” said Greg Smith, chief executive officer for Maplewood Senior Living to BloombergPursuits.
Maplewood and Omega Healthcare Investors Inc. have partnered to build a 23-story, $270 million tower at Second Ave. and E. 93rd St. on Manhattan’s Upper East Side. Rents will start at $12,000 a month at the complex.
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