Just Listed brings you the latest news and information from the Twin Cities-area commercial and residential real estate market and beyond from veteran reporters Jim Buchta and Kristen Leigh Painter.

Oppidan dives into senior housing market

Posted by: Janet Moore Updated: June 3, 2014 - 4:50 PM

Minnetonka-based Oppidan Investment Co. said this week that it plans to develop its first-ever senior housing project. The locale: Woodbury.

The $14 million Red Rock Senior Living facility will feature 77 units -- 14  independent living apartments, 24 assisted living, 32 memory care apartments, six care suites, one guest suite, and a 25-stall parking garage on the lower level.

The 75,873-square-foot complex will be located on 3.5 acres at 2195 Century Av., near the intersection of Interstate 494 and Lake Road -- and close to CornerStone Medical Specialty Centre and the Woodwinds Hospital campus.

The facility will be operated by Ebenezer in partnership with Fairview Health Services.

Joe Ryan, president of Oppidan, said in a statement that the project is "an exciting new focus" for the firm.  “We welcome the opportunity to bring our development expertise to the senior housing market with Ebenzer and other senior housing providers on future projects.”

Construction will begin this month, and the facility will be fully operational by June of 2015.

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