A Chicago developer hopes to break ground by the end of this month on a $75 million senior living community in Kensington, Maryland.
McCaffery has partnered with AEW Capital Management to form a joint venture for “Modena Reserve at Kensington,” a 167,000-square-foot senior living community that is expected to be completed by early 2021.
“This is the largest project the town has had in over 40 years,” said Kensington Mayor Tracey Furman, who has been an advocate for the project.
The two-acre site is at the intersection of Metropolitan Avenue and St. Paul Street and will include 135 upscale senior living apartments. It will incorporate two historic buildings at the site.
Modena Reserve will include what McCaffery calls “progressive health and wellness-driven amenities,” a 10,000-square-foot courtyard, multiple restaurants, a full-service wine bar, fitness center with a therapy gym and a penthouse lounge.
The historic buildings will be redeveloped and include a coffee shop that will be open to the public.
Jeff Clabaugh has spent 20 years covering the Washington region's economy and financial markets for WTOP as part of a partnership with the Washington Business Journal, and officially joined the WTOP newsroom staff in January 2016.