
Welltower, Hines Partner on UWS Senior Living Project
Welltower Inc. and Hines have closed on the acquisition of a development site at 2330 Broadway at 85th Street on the Upper West Side for an undisclosed sum. It marks the second joint venture between the two firms on a senior living community in Manhattan.
Existing commercial structures on the site will be demolished to make way for Welltower West, a 140,000-square-foot, 17-story senior living and memory care community. “Our partnership in the urban seniors housing sector combines the highest quality of care with beautiful and functional design focused on dignity, wellness and community,” said Hines’ Sarah Hawkins.
“This location is in the top percentile of the demand curve for our target households, and Welltower West will offer a seamless extension of this unique neighborhood for our residents,” said Welltower CEO Tom DeRosa.
He added that the new project’s design will complement and integrate with the neighborhood’s existing residential stock.
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