Wednesday, October 20, 1999
Marriott drops plans for assisted-living complex
BY SARA J. BENNETT
The Cincinnati Enquirer
WYOMING — Saying the market for assisted-living facilities has grown tight, Marriott Senior Living Services Inc. has abandoned plans to build one of the complexes on the former Kmart site at Bonham Road and Springfield Pike.
The plan was part of a bigger development that includes mixed-use residences still scheduled to be built.
“There's a little bit of competition there,” said Rick Mielbye, senior director of development for Marriott. “We're just very cautious to make sure the market is able to handle the influx of rooms that are coming.”
Marriott informed Wyoming last month it was pulling out of its deal to buy land from the Coral Co.of Beechwood, Ohio. Coral planned to buy 12 acres from Wyoming, sell four to Marriott and keep eight to use for condominiums and manor and patio homes.
City council voted this week to retain ownership of the four acres and look for a new developer. Coral, meanwhile, expects to close on its eight acres in January and begin building its portion.
City leaders are chagrined at losing the Marriott development. With Wyoming's over-65 population expected to rise to 1,300 by 2005 — about 15% of the population — the city's 10-year master plan calls for more housing options for older people.
“We were ready to break ground in October,” said May or David Savage. “Without question, we're disappointed.”
Marriott had proposed about 100 rental units contained in six cottages staffed by live-in caregivers. The facility, called Maple Ridge, would have provided gated living for seniors over 75 with $25,000 in annual disposable income.
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