Plans for a new senior living community in Cary, NC are underway, with construction set to begin this summer. “Paraclete Professional Park” will feature a 475,000-square-foot “life care” community, including 240 independent living units and 130 assisted living units, office space, and possibly a 150-room hotel. The community, which will be located on Kildaire Farm Road across from WakeMed Cary Hospital, was proposed by Mangum Development, LLC.
Photo courtesy of Mangum Development.
Recently, the Cary Town Council approved the rezoning of about 23 acres across from WakeMed on Kildaire Farm Road from residential to mixed-use to allow for the building of Paraclete Professional Park.
Image courtesy of Mangum Development.
The project comes at a time when the town has been trying to respond to the need for senior housing, as nearly 5,000 Cary residents turn 65 years and older each year. The “Aging Issues Task Force,” a group of Cary officials and residents appointed by the town, completed a study in 2015 into how well Cary serves its senior residents. While the report said the town serves those 65 and up well, it also indicated that the community may lack adequate housing for the growing population.
Kevin Mangum of Mangum Development, a fourth-generation business owner and fifth-generation Cary native, develops world-class mixed-use projects. As Lead Developer for Paraclete, Mangum says the community will be “metropolitan” and “high-quality, but not ostentatious.” He continues, “You could expect to see some very nice amenities usually reserved for places like New York or Miami.”
Photo courtesy of Mangum Development.
The facility will have a walkable environment and a campus-like feel, complete with central gardens and fountains. Amenities will include covered parking for owners and physicians, a generous 4:1 parking ratio, “Class A” finishes, such as imported marble floors, and dining and shopping within walking distance at Waverly Place. “We think a large focus for baby boomers will be a desire for living near shops, restaurants, and excellent medical care,” said Mangum. “Paraclete happens to be next to a hospital and Waverly Place, and is convenient for family to visit their loved ones.” There are plenty of hotels just minutes away, including a Comfort Suites, Hampton Inn, Courtyard Marriott, and Extended Stay America.
Wind Down Wednesday. Photo courtesy of Waverly Place.
Waverly Place underwent a major facelift in 2015, including a multi-million dollar interior and exterior renovation of 15-year-tenant Whole Foods. Other shops and restaurants at Waverly Place include Cinebistro, Whisk Cookware and Cooking Classes, Hand and Stone Massage, Violets Boutique, and Fresca Cafe. In addition, Waverly Place hosts various free events throughout the year, such as “Yoga on the Promenade;” “Wind Down Wednesdays,” featuring free concerts; and Flamenco music at Fresca Cafe.
Paraclete Professional Park is expected to open in early 2018.
For more information about senior housing and retirement communities in the Triangle, click here.
For detailed information on local 55+ neighborhoods, click here.
For information and updates about Paraclete Professional Park, contact Real Estate Experts any time at 919-813-6449 or [email protected]. Visit us online at realestateexperts.net.