Apartment developers have targeted young professionals and students with a flurry of projects in the Pikes Peak region over the last few years.
Now, one developer is going after an older demographic.
Asante at First & Main Town Center, an active-adult apartment community that will target residents 62 and older, is planned for nearly 8 acres at the southwest corner of Tutt Boulevard and South Carefree Circle on Colorado Springs' east side. The 156-unit project will be built adjacent to the First & Main Town Center, although the apartment site is not part of the retail center.
Construction is targeted to begin in summer 2014, with the project's first building and clubhouse expected to be completed about a year later, said Scott Mickeleit, a co-owner and managing member of developer and operator Asante First & Main LLC of Oregon.
Mickeleit said active-adult apartment communities are an emerging trend around the country.
In Colorado Springs, he said, "we're hitting a void in the market."
Mickeleit said such complexes are an alternative to traditional independent-living projects, which provide meals, dining, transportation and other services for seniors. Asante at First & Main won't have a large dining room, a meal service or health care facilities.
Instead, the complex will focus on amenities for residents and emphasize wellness and fitness programs.
"It's much more than just age-qualifying an apartment," he said. "We provide a lot of service enhancements for our residents. It's a lifestyle community where our residents are living among people with common interests."
The complex will include a pair of four-story buildings served by elevators, and a 13,000-square-foot, two-story clubhouse, with a third floor set aside for apartments. The clubhouse will have a theater; lounge; private offices for use by residents; aerobic, fitness, exercise and locker rooms; and a spa area and wellness clinic where residents could, for example, meet with a physical therapist. The complex also will have outdoor recreational areas, garages and carports and an indoor swimming pool.
Apartments will range from 615 square feet to more than 1,600 square feet and include studios, one-bedroom units with a den, two-bedroom/two-bath residences and two-bedroom/two-bath units with a den.
Rents will start at $1,475 a month, and include full-size gourmet kitchens with granite countertops; full-size washers and dryers; walk-in closets; decks or patios; bi-monthly housekeeping; basic cable; WiFi; and all utilities except for telephone.
The project will be the first for Mickeleit and his partner in Colorado, although his partner has other business holdings in the state.
Mickeleit said his company liked the location because it's within walking distance to restaurants and stores at First & Main.
He and his partner paid $700,000 for the land, El Paso County land records show. Mickeleit said they also will pay another $300,000 to reimburse the city for improvements to Tutt Boulevard.
Although Asante is using the First & Main name, the land for the site was owned by someone other than Nor'wood Development Group, the retail center's developer.
Fred Veitch, a Nor'wood vice president who oversees First & Main, said the apartment project will mesh well with the shopping center. Nor'wood is working with Mickeleit to ensure there will be adequate walkways so Asante residents can get to First & Main, Veitch said.
"It continues to add a work, live and play environment to First & Main," Veitch said. "I think the residents who live there will be able to walk to many of the services they're going to want to have."
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