$21 million assisted-living facility sought for Cotswold

$21 million assisted-living facility sought for Cotswold

Credit: Charlotte Planning Department

$21 million assisted-living facility sought for Cotswold

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by The Charlotte Observer

WCNC.com

Posted on January 2, 2012 at 12:52 PM

A Charlotte City Council zoning hearing for a proposed senior living community in Cotswold will be Jan. 17 at the Charlotte-Mecklenburg Government Center.

Michigan-based Singh Development Co. filed a rezoning petition in late November to bring its second assisted-living facility, which would be called Waltonwood at Cotswold, to the eastern side of Randolph Road.

The 8.4-acre plot of land is south of Wonderwood Drive and beside St. Mark's Coptic Orthodox Church on Shasta Lane, not far from the intersection of Sardis and Randolph roads.

In May, the Charlotte City Council voted in favor of a Waltonwood at Providence senior living community.

In doing market research for Waltonwood at Providence, which will be across the street from Providence Country Club, Singh leaders found another opportunity for growth in the Charlotte area.

"We really saw a hole in the market for assisted living, which prompted us to continue our search for a second project," said Mike Kahm, vice president of Singh. "It happened that things fell together."

Waltonwood at Providence, a $33 million project, is a "continuum" senior community, as it offers independent living, assisted living and memory care units.

Waltonwood at Cotswold, a $21 million project, would be just assisted living and memory care units.

The current site plan calls for 115 units and 125 beds. Some rooms would be double-occupancy.

The land is currently zoned urban residential, said Sonja Sanders with the Charlotte Planning Department. In 2006, a developer acquired the land and leveled a handful of homes with plans to build about 50 townhomes and condominiums.

However, when the market nose-dived, the bank had to reclaim the property.

Singh first acquired a certificate of need, which states that the area is in want of more senior living, and then optioned the property with Wells Fargo. The agreement is contingent on Singh's getting approval for Waltonwood at Cotswold from the city.

The public hearing before City Council is scheduled for Jan. 17, and the council will make a final decision Feb. 20, said Sanders.

The planning department's staff analysis is due two weeks before the hearing.

"We're still gathering all the departmental feedback," said Sanders.

Kahm said that if the project is approved, the component nearest the Cotswold homes will be only one story.

"Obviously, we're a quiet neighbor, and ...it's going to be a pretty unobtrusive section," said Kahm. We "wanted to be able to design a building that we felt was respectful to the neighbors."
 

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