Colorado Real Estate Journal -
The first residents will start to move into the 97-unit, $23 million HighPointe Assisted Living and Memory Care center in December. The center, at East Hampden Avenue and Interstate 25 in southeast Denver, is the first urban center developed by Denver-based Spectrum Retirement Communities, one of the nation’s 50 largest owners and managers of senior housing centers. The four-story HighPointe, at 6383 E. Girard Place, also is the first multistory center by Spectrum. The 79,700-square-foot HighPointe was designed by Vessel Architecture & Design and was built by Catamount Construction Inc. Construction was scheduled to be completed earlier this month. Several factors set HighPointe apart from the suburban communities in Spectrum’s portfolio. “The location is a little more urban than we have done before,” said Mike Longfellow, director of development for Spectrum, a 10-year-old company that has a network of 25 retirement, assisted living and memory care communities. “HighPointe just has a great location,” Longfellow said. “It truly has a top location at I-25 and Hampden,” he said. “It is truly convenient. It is easy to get to downtown, the Tech Center or Cherry Creek from there.” Around the corner from HighPointe are restaurants such as Live Basil Pizza and the Bagel Deli & Restaurant. HighPointe also is close to HealthOne’s Swedish Medical center, which includes the Swedish Stroke Center and a Level 1 trauma center. It also is across the street from a light-rail station. That will be handy for residents who are independent enough to take the light rail, “but it is especially nice and convenient for our team workers,” who assist residents, he said. HighPointe will create 75 to 100 full- and part-time jobs. Because of the building’s vertical nature, the physical footprint is smaller than at other communities. “It’s a little more compact site,” Longfellow said. “It is a two-acre site,” he said, while suburban locations typically have 3.5- to eight-acre sites, he said. Also, the building will include a number of floor-to-glass windows in common areas and in a number of the units. “We are really bringing in a lot of natural light,” he said. Of the 97 apartments, 65 are assisted-living units and 32 are memory care apartments. They vary in size from studios to two-bedroom, two-bathroom units. Some 40 percent of the building will be dedicated to community space for residents. Amenities will include a theater, state-of-the-art wellness center, and a beauty salon, as well as patios and other outdoor areas. Spectrum’s Transitional Memory Care Program supports seniors with mild cognitive impairment, but who still have a high level of independence. The typical monthly cost will be about $4,300. That includes $3,500 rent for a typical apartment and $760 for additional services, although the latter will vary based upon need, said Kathleen MacDonald, director of marketing for Spectrum. “These are for seniors who are not completely independent; they need some help,” MacDonald said. In the industry, HighPointe will serve what is known as ADLs – assisted daily living. About a third of the units have been preleased, she said. So far, most of the residents are coming from the Denver metro area. A number of the first residents live in the immediate area, she said. “Now, in our Lincoln Meadows center in Parker, most of the residents are from out of state and their grown children live in the area,” MacDonald said. “Over time, who knows if HighPointe will draw more people from out of state. We will just have to wait and see.” HighPointe will serve as a template for other urban centers for Spectrum. “Absolutely,” Longfellow said. “In fact, we have another one under construction in St. Louis right now, which is being modeled after this one.” Currently, Spectrum has more than 500 units under construction More than 2,500 people live in its centers, which can be found in 11 states from Washington to New York. Spectrum was founded 10 years ago by Jeffrey D. Kraus and John M. Sevo to provide “affordable luxury” to seniors.