Balfour assisted living landing at Stapleton

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Balfour at Stapleton unveiled.

Assisted living center will open next year.

It’s a joint venture of Balfour and Northstar Commercial Partners.

Balfour

Balfour and Northstar will bring the first assisted living center to Stapleton next year.

Balfour Senior Living and Northstar Commercial Partners are jointly developing the first assisted living center in Stapleton

The 2-story, 63,000-square-foot Balfour at Stapleton will be built on a 1.5-acre site at 2979 Uinta St.

The project will have 58 assisted living apartments. It also will include 16 memory care units for a total of 74 units.

It is slated to be completed and ready for residences in the first half of 2017.

“We thought that it is really an under-served market over there,” said Michael K. Schonbrun, the founder and CEO of Balfour Senior Living.

“I think a lot of us are old enough to remember when it was just an airport,” he added.

“They have just done a great job there, but there is no senior assisted living center,” Schonbrun said.

“We are proud to bring the first one there. It’s kind of the missing piece for a truly vital and vibrant community.”

Balfour also did a market study that confirmed that there would be a great deal of demand for an assisted care center there, he added.

Schonbrun said that Balfour at Stapleton will “incorporate all we have learned from our nearly 20 years of developing and operating senior housing.”

Balfour at Stapleton will be designed by the architectural firm of Davis Wince Ltd.Brinkmann Constructors is the general contractor.

The amenity package offered at Balfour at Stapleton and other Balfour projects, will include a salon, farm-to-table dining, chauffeured transportation, fitness center and themed common areas for educational and event programming.

“This is a truly exciting project,” said Brian Watson, the founder and CEO of Northstar.

“Working alongside a trusted and quality group such as Balfour is an honor,” Watson continued.

“We look forward to seeing the positive impact this new community will bring to the Stapleton community,” he said.

Balfour at Stapleton marks the first project developed by Balfour and Northstar.

“From what I recall, they said they were not in the senior housing, assisted living area and they wanted to be,” Schonbrun said.

“They asked around and our name kept coming up as the best of breed,” he said.

He said both sides did their own due diligence and were impressed by what they learned about each other.

The Balfour center will be the first assisted living center in Stapleton, confirmed Tom Gleason, spokesman for Forest City Stapleton, the developer of the community.

Balfour and Northstar did the deal with Horizon Development Group.

“We were not involved with it,” Gleason said.

Initially, Horizon was going to build an assisted living center on its land as the second phase, he said.

“Horizon built the first phase, which is a senior center for 55-year-old plus citizens,” Gleason said. “I believe it has about 108 units.”

Schonbrun said Northstar had a previous relationship with Horizon, but it didn’t work out.

Forest City approved the plan for the assisted living center, “three, maybe close to four years ago,” Gleason said.

The assisted living center by Balfour will a welcome addition to Stapleton, he said.

“As you know, we have a lot of younger families at Stapleton,” Gleason said.

“What we hear from them is that a lot of their parents, their children’s grandparents, also would like to live in Stapleton,” Gleason said.

“And some of these seniors need assisted living services,” Gleason said.

“So we look at this as sort of completing the picture at Stapleton,” he said.

Is there enough demand for another assisted living care center at Stapleton, beyond the 74 units offered by Balfour?

“I can’t tell you,” Gleason said.

“But I think that would be something we would be certainly be open to have conversations about,” Gleason said.

Schonbrun said he is looking for other opportunities outside of Stapleton.

In Denver, it also has opened the award-wining Balfour at Riverfront Park on Little Raven Street in the Platte Valley.

“If you look at our senior population, we think that understates the demand for senior and assisted living housing,” Schonbrun said.

“People do not naturally come her to retire to Colorado like they do in Southern Florida and Arizona,” he said.

“But they do come here to be closer to their children and their grandchildren. I went through that with my own mother, 25 years ago.”

Interested in buying a home in Stapleton? Please visit 8z Real Estate.

Have a story idea or real estate tip? Contact John Rebchook at JRCHOOK@gmail.com. DenverRealEstateWatch.com is sponsored by 8z Real Estate. To read more articles by John Rebchook, subscribe to the Colorado Real Estate Journal.

 

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John Rebchook

John Rebchook has more than 30 years of experience in writing and communications. As the Real Estate Editor for the Rocky Mountain News, he wrote about residential and commercial real estate for 26 years. He has won numerous awards for business stories and columns that he wrote, both as an individual and part of teams. In addition to real estate, he also covered economic development, banking and financing, the airlines, and cable TV for the Rocky. In addition, he was one of the original freelance writers for GlobeSt.com, covering commercial real estate for the Internet publication.

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