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Construction has begun on the Villas at Stoney Point Independent Living community, a $25 million, 99-unit project in southwest Cedar Rapids.
The four-story structure, with one-and two-bedroom apartments and underground parking, is projected to open in winter 2020-21, according to developer Bob Sample. It will be located north and adjacent to Stoney Point Meadows Senior Living and Memory Care, a 95-unit complex that Sample developed at 1900 Stoney Point Rd. SW.
'When we looked at market studies, we found there was a tremendous need on the Cedar Rapids' southwest side for nice, quality, high-end-construction-type of facilities,” Sample said.
'The Villas at Stoney Point will be the largest independent living community on the west side of Cedar Rapids and privately funded with many local area investors.”
Sample said the Villas at Stoney Point will be for those 55 and older. Amenities will include a physical therapy pool, movie theater, fitness and wellness center, art studio, activity center, spa, cafe and bistro and walking paths around two ponds.
'Independent living will not include health care or three meals a day,” Sample said. 'It will be about $2,000 less expense per month because it will not include those things.”
The project architect is Nelson-Tremaine Partnership in Minneapolis. Bradbury Stamm Construction of Saint Cloud, Minn., is the general contractor.
Sample said local subcontractors will be used over the course of the construction. The contractor is pouring the footings for the underground parking this week.
Cassia Senior Care - formerly known as Augustana-Elim - will be the management company.
'We will have the same management company for both facilities,” Sample said. 'That way, the administrative expenses will be shared, which will keep the rent down.”
Sample said leasing likely will begin six to nine months before the facility is ready for occupancy.