John Knox to begin construction on 150 senior apartments - Insurance News | InsuranceNewsNet

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July 16, 2019 Newswires
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John Knox to begin construction on 150 senior apartments

South Florida Sun Sentinel (FL)

Jul. 15--A Pompano Beach retirement village will construct 150 new apartments in two new towers.

John Knox Village is planning to start construction in 2021 for The Vue at Westlake, at 15 stories, and The Terrace at Westlake, at 10 stories.

The apartments, which include kitchens, range from a 1,277-square-foot one-bedroom unit to a two-bedroom penthouse.

Rent generally ranges from $3,000 to $4,000 a month. Or residents can "buy in" to the new apartments with upfront payments, ranging from $332,020 for a one bedroom to $609,960 for a 2,300-square-foot penthouse for a lifetime of care.

When they move out or pass away, they or their heirs receive 50 percent of the original investment, excluding the $2,314 to $4,800 monthly fee for nursing care and other services, including meals and transportation.

The current entrance fees range from $154,900 to $429,900.

CEO Gerry Stryker said the decision to expand came from input from prospective owners who were searching for larger apartments. He said "people move here for socialibility," and the emphasis on activities.

The apartments are expected to be ready for residents in March 2023.

It's part of a $100 million expansion project that includes a first-floor common area with new dining and an art studio for classes such as flower arranging or woodworking.

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New construction also includes a movie theater, club room, chapel and fitness studio. Adjacent to the two apartment buildings will be a Pavilion Center, including two restaurants and a 300-seat multi-use Cultural and Meeting Center.

Future expansion projects include the construction of two pools, and four courts for pickleball and bocce ball.

The model at John Knox Village, off Atlantic Boulevard east of Interstate 95, is for seniors to be able to age within the facility without moving and have their medical issues dealt with on site. One person in the home must be at least age 62.

John Knox Village, a retirement community built in 1967 as Baptist Village of Pompano Beach, currently has 662 independent living apartments and villas. Seaside Cove and The Woodlands -- which opened in 2016 -- are the Village's nursing homes.

___

(c)2019 the Sun Sentinel (Fort Lauderdale, Fla.)

Visit the Sun Sentinel (Fort Lauderdale, Fla.) at www.sun-sentinel.com

Distributed by Tribune Content Agency, LLC.

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