Author: Lois A. Bowers, Senior Editor
Ten months after breaking ground on a project intended to attract baby boomers and others looking for a different environment in which to age, nonprofit BHI Senior Living has sold all 30 duplexes in an expansion of its Hoosier Village continuing care retirement community in Indianapolis, and the first residents are moving in.
Each unit in The Oaks, a new independent living section of the community’s 300-acre campus, has 4,100 square feet of living space (more than 2,000 on each floor). The homes feature front porches, oversized two-car garages, open floor plans, sunrooms, screening-in porches, laundry rooms, walkout basements that can be finished, and high-end finishes and amenities .
Entry fees range from approximately $340,000 to $630,000, according to BHI.
“Baby Boomers want a different product, so we’re creating something entirely new for this market,” John Dattilo, president and CEO of BHI Senior Living, said in a statement. “They want homes and options that duplicate the standard of living they already enjoy.”
The neighborhood features mature trees and green space. Hoosier Village’s second dog park, garden areas, pavilions and nature trails are planned.
“We rarely see this size of unit anywhere in the country,” said Steve Johnson, managing director of specialty investment bank Ziegler. “We’re impressed with the success Hoosier Village is having, especially related to the unusually high occupancy rate.”
BHI has three other CCRCs in Indiana. A spokeswoman for the company told McKnight’s Senior Living that two of the other campuses have smaller duplexes. “We have plans for more duplex or cottage-style homes in our markets, but we are not yet certain of the size or design,” she said.