Signet Real Estate broke ground last week on a new 106 bed senior living facility in Wadsworth, Ohio in partnership with The Village of St. Edward. The $21.6 million project is the first phase of St Edward’s plan to expand their footprint as the demand for quality senior care begins to grow, and is slated to be completed in the fall of 2018.
The project will offer three levels of senior care: independent living, assisted living, and memory care. The new facility will feature three distinct wings for independent, assisted and memory care living that all share common areas.
Signet acts as the Owner and Developer for the project while St. Edward will operate the facility once opened. Additional project partners include Hplex Solutions, Andrews Architects and Pride One Construction.
The Village of St. Edward, founded in 1964 and located in Fairlawn, Ohio, is recognized as one of Northeast Ohio’s most respected private facilities for senior care.
“We are thrilled to partner with such a respected organization as The Village of St. Edward to help fulfill their mission of meeting residents’ spiritual, physical and psychosocial needs in a faith-based environment,” says Anthony (Tony) Manna, Chairman of Signet LLC. “We know this facility will be a wonderful home for many and we are happy to help deliver it to the Wadsworth community.”
Signet Real Estate, which has decades of experience in serving the healthcare industry, as well as planned living and student housing communities, is excited to enter the senior assisted living market with The Village of St. Edward.
“This project is a perfect fit for us and St. Edward is the perfect partner,” says Kevin Belt, Vice President of Development at Signet Real Estate Group. “Many of the projects we develop are in other parts of the country, and this one is in our back yard. Everyone involved with the project, from the folks at St. Edward to city officials and other project partners have been instrumental in getting this project off the ground. They have been wonderful to work with and we look forward to a long successful partnership,” says Belt.
John Stoner, President and CEO of The Village of St. Edward, is excited about bringing the project to Wadsworth and agrees that Signet has been a great partner throughout the process.
“The Village is delighted to have Signet, another Akron-based organization, as our partner in the Wadsworth Project,” says Stoner. “Their commitment and participation has been, is, and will be integral to The Village’s presence in Wadsworth. We very much appreciate Signet, particularly working with their people, providing the opportunity for senior living alternatives for the people of the Wadsworth area.”
About Signet Real Estate Group
Signet Real Estate Group, a subsidiary of Signet LLC, transforms complex development challenges into collaborative opportunities through a creative, flexible, and customized approach. Our team brings more than 20 years of experience in successful development and facility management solutions in the areas of healthcare, higher education, research, public-private partnerships and strategic infrastructure. Since our firm’s inception, Signet and its family of companies have successfully managed and currently have in progress more than $4.5 billion in real estate development and construction throughout the U.S. Visit SignetLLC.com.
About The Village of St. Edward
The Village of St. Edward, operating in Fairlawn since 1964, is a Continuing Care Retirement Community (CCRC) providing services and residency for senior citizens. Initially founded by the Diocese of Cleveland and the Sisters of St. Dominic of Akron, the Village is dedicated to meeting patients’ and residents’ spiritual, physical and psychosocial needs in a faith-based environment. Visit http://www.vscommunities.org.
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