published Wednesday, August 29th, 2012

Luxury apartments planned for older adults in Chattanooga

Follow us on Twitter for the latest breaking news

LEARN MORE

For more information on WholeLife communities, visit WholeLifeWorld.com or call 214-525-4030.

Builders will break ground Tuesday on a $30 million luxury housing development targeted at empty-nesters.

All of the 104 apartments in the Mountain Creek Road complex are being built at once. The ground-level, townhouse-style homes with two-car garages are slated for completion by the first week in April.

“We have a demand from successful adults who are empty-nesters selling their homes,” said John Lowery, chief executive officer of WholeLife Inc., which is building the community. “This is a product that’s targeted to successful, active adults.”

Lowery expects most of the residents will be working couples or individuals between the ages of 50 and 70, though there are no age restrictions. He expects the $2,400- to $3,100-a-month apartments will rent to people who recently sold a home and decided to put the money in savings rather than buy a smaller home.

Though several apartment complexes already sit along Mountain Creek Road, Lowery said a product like his WholeLife community is unique because of its larger units — the average rental will be 1,800 square feet — and amenities.

The build includes a 10,000-square-foot clubhouse with a saltwater pool, exercise center and wellness coach. A nurse practitioner will be available five days a week, free of charge, to help residents with exercise and nutrition plans or to swing by their apartments for a check-up if the resident is sick.

The complex also will employ a complimentary concierge on call 24/7 who can book tickets and order groceries.

Lowery hopes those features will help draw the aging professionals he’s targeting.

“They just don’t want to cut the yard any more, they don’t want to take care of the pool. They’ve been there and done that,” he said. “However, they want a residential product that’s equal to what a sales product would be.”

Before the recession, empty-nesters often would sell their homes and move into smaller condos. With the kids grown up, they just didn’t need the space.

Since then, selling a house has become quite a bit more difficult, but many people over 50 face the same needs. Rusty Criminger, a local WholeLife partner, said this development will give that demographic an alternative.

“You don’t have to sell your house. You can put your house in a management company or whatever you want to do with it because you don’t have to get your equity out of it,” he said. “While the markets have changed, the demand for the lifestyle has not.”

WholeLife wants to open 100 of these communities across the country, starting with Chattanooga. The company also has immediate plans to build in Texas, North Carolina and North Atlanta.

Other National Articles

videos »         

photos »         

e-edition »

advertisement
advertisement

Find a Business

400 East 11th St., Chattanooga, TN 37403
General Information (423) 756-6900
Copyright, Permissions, Terms & Conditions, Privacy Policy, Ethics policy - Copyright ©2014, Chattanooga Publishing Company, Inc. All rights reserved.
This document may not be reprinted without the express written permission of Chattanooga Publishing Company, Inc.