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Wednesday, May 14, 2014

New senior citizen apartments in CNY, developer says the market is hot : NY

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Camillus, NY - Calling the market for retirement housing hot, Clover Construction has begun work in Camillus on a 119-unit apartment complex that will rent to people 55 years old and older.

Earth movers have begun carving out the hillside on Milton Avenue between Knowell and Hinsdale roads to ready the site for construction of the one and two-bedroom apartments.

"There's a great need throughout the country for this," said Rob Bishop, Clover's manager for the project. "There are a great number of people retiring every day, the numbers are increasing. It's a hot part of the construction market right now."

This will be the third senior complex in Central New York for the Williamsville company. It just built a similar project in Clay and is the middle of constructing one in New Hartford, he said. Most of the developments are leased before construction is finished, Bishop said. With occupancy levels in the 90+ percents, "they get in them quick and stay there. Which is good for us," he said.

with thanks : syracuse : LINK : for detailed news

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