LITTLETON, COLORADO (August 4, 2016) — Balfour Senior Living, based in Louisville, Colo., and United Properties, with offices in Minnesota and Denver, have announced a new partnership to develop and own a 74,000 sq. ft. senior living community at 8290 W. Coal Mine Ave. in Littleton, Colo. The community, slated for occupancy in 2017, will be developed with best practices from United Properties’ successful Minnesota assisted and independent living communities and Balfour’s five communities in Colorado. United Properties will close on the land and break ground immediately.
The new community will have an “equestrian-themed” design that is inspired by local rural architecture and will feature approximately 56 assisted living apartments and 26 memory care units, with a total of 82 homes.
The new campus will feature large common areas for educational, political, university and community events – a hallmark of the Balfour brand – walking paths and hobby areas. Award-winning Boulder, Colorado based DTJ Design will design the project’s interiors and exterior.
With a ten-year track record of commercial development in Denver, United Properties enters the senior housing market in Colorado as the lead investor, working with Balfour as the operating partner of the Littleton project. This move marks United Properties’ first senior housing development in Denver; it has twelve such projects in the Minneapolis, Minnesota area, with two more under construction.
“We’re proud to have the opportunity to expand to Littleton and Jefferson County to offer senior living apartment homes in a premier location with our signature Balfour services, in partnership with a well-known development partner, United Properties,” says Balfour Senior Living Founder and Chief Executive Officer Michael K. Schonbrun. “Balfour is committed to building and operating the best senior living communities in Colorado and this new development will incorporate all we have learned from our nearly 20 years of developing and operating senior housing.”
“We have been looking at this market for some time and we are very excited to have Balfour, with their outstanding reputation as a co-investor and operator, for our first community in Colorado,” saidMike Dailey, senior vice president, United Properties. Dailey joined United Properties to focus on retail and residential development in 2015 after stints with MVG Development and Opus Northwest.
“United Properties is excited to expand our successful senior living business into Colorado, as an addition to our established commercial development in the Denver area,” said Bill Katter, President and Chief Investment Officer, United Properties.
Founded in 1997, Balfour Senior Living has received national and international recognition for its design and operations including awards from the Assisted Living Federation of America, Hospitality Design Magazine, the Colorado chapter of the AIA and the Pacific Coast Builders Association. Currently, Balfour operates four communities located in Louisville, CO and one in the Riverfront Park neighborhood of downtown Denver, offering residents a full continuum of care with independent living, assisted living, memory care and skilled nursing care. Balfour’s vision is to offer a state-of-the-art senior living community with comfortably elegant interior design, locally inspired architecture, enhanced amenities and personalized health care services in a rental community with no large entry fees. For more information contact: BalfourInfo@BalfourCare.com or 844.354.8877.
About United Properties
Formed in 1916, United Properties acquires, develops, manages, finances and disposes of the company’s real estate investments, which includes nearly 50 office, medical, industrial, mixed-use and retail assets in Minnesota, Wisconsin, Illinois and Colorado. United Properties also provides development services for the retail, residential, office, medical and industrial sectors. In addition to a large presence in the Minneapolis-St. Paul market, United Properties’ Denver office develops retail, office and industrial buildings. For more information, visit www.uproperties.com or follow on Twitter at @UPDeepRoots.
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