The ownership and development team for Homestead at Hamilton held a groundbreaking ceremony the morning of April 14, followed by an afternoon reception at The Stone Terrace’s Hamilton Room in Hamilton Township. More than 100 people attended, including Hamilton Mayor Kelly Yaede, local officials, business and civic leaders, and the general public. From left to right in the photo are:
Paul O’Brien, Vice President, Director of Operations, Solutions Advisors
Jack Spencer, Owner’s Construction Representative
James Scribner, Managing Director of Red Capital Construction Lender
Kristin Kutac-Ward, President and CEO of Solvere Living & President and CEO of Solutions Advisors
John Ralosky, COO of Solvere Living
Brian Hughes, Mercer County Executive
Hamilton Mayor Kelly Yaede
David Weiner, Principal of Pike Construction Co., LLC and Managing Member of Developer
Jeff Abrams, Principal of Pike Construction Co., LLC
Andy Jubelt, Director of Development, Pike Development
Paul Braungart, Principal of Regional Capital and EB-5 Regional Center
Martin Flynn, Hamilton Township Director of Economic Development
Homestead at Hamilton will provide 195 apartments for independent living, assisted living and memory care. Solvere Living and Pike Construction Co. LLC, co-developer and general contractor, are investing $59.1 million in the project, located in central New Jersey’s Mercer County. Homestead will provide an emphasis on a healthy living environment and concierge-type services for seniors able to live independently, as well as those needing assisted living or memory care. A whole-person wellness program and a range of social activities are designed to support resident independence. There will be 96 independent living apartments; 75 assisted living apartments and 24 apartments for memory-care. The amenities and services-rich community will include: casual and formal dining, bar and lounge; state-of-the-art fitness center and exercise studio; hair salon, spa, theatre, convenience store; transportation, maintenance and repair, along with other features.
Fully-refundable, non-interest bearing deposits of $1,000 for Homestead are being accepted now. A sales center will open in late 2016, with the community slated to be completed in late 2017, said Ward. Solvere’s portfolio of managed assets includes owner-investor properties throughout the East Coast and Midwest as well as its own communities. Priced to appeal to a market that appreciates value, Homestead will have a one-time community fee of $3,500 and monthly rentals starting from $3,000 for independent living, $3,750 for assisted living and $5,200 for memory care. Residences range in size from 450 to 1000 square feet and are designed for maximum living space and natural light.