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Broadview - Senior Living at Purchase College
On November 10, the permanent financing closed for Broadview, a university-based retirement community being developed on the campus of Purchase College, a State University of New York college in Purchase, New York. LCS Development, with its partner Senior Care Development, is the Development Consultant for the project. The $398 million tax-exempt bond financing was underwritten by Herbert J. Sims & Co., Inc. and issued by the Westchester County (NY) Local Development Corporation. The community is sponsored by Purchase Senior Learning Community Inc., a not-for-profit entity formed by the college and is being built on land leased from the State University of New York system.
Once completed, the 40-acre community will consist of 220 independent living residences, including 44 affordable apartments and 46 Villas. Broadview will also have a 68-suite Assisted Living/Memory Care Facility, a 50,000 square foot Commons building with multiple dining venues, resident amenities and a Learning Commons with classrooms, exhibition space and a pub that the residents will share with the students and faculty of Purchase College. There is also a 10-acre park. Currently 193 of the 220 residences, or 88%, are under contract with 10% deposits. Entrance fees range from $250,000 for an affordable apartment to over $2 million for the top priced Villa.
The contractor, Whiting-Turner, was given the formal notice to proceed on November 10th. The first residents are expected to move in in the summer of 2023. The community was designed by HCM Architects. The interior designer is Merlino Design Partnership.
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