Colorado Springs Business Journal
June 23, 2006

Unlike most NIMBY — not in my backyard — reactions, Toby Gannett, vice president of Dunn & Associates reports that the Palisades at Broadmoor Park residential community for those 55-plus has met with neighborhood support.

“The Broadmoor Park Association residents actually came to us, asking to consider putting our project in that area. Some were looking for a good place for their parents to stay in close proximity,” he said, adding the community was preferred over a drive-through drug store surrounded by a large parking lot.

With all approvals in place, construction on the 108-unit project will start by the end of the month and will include three guest cottages that will be used for pre-marketing. The first move-ins should take place in spring 2008.

An alternative to traditional elder living centers, the Palisades project includes independent and assisted living units ranging from 700 to 1,500 square feet, with upscale interior finishes and programs.

The cost to lease a unit for a limited number of founders will be a one-time $46,000 fee which fixes the rate for the first nine years. The idea has already caught fire.

“What’s surprising is that we are already getting calls from a younger group than we expected. Instead of strictly 80-to-85-year-olds, we’re getting calls from some retirees in their 60s,” Gannett said. “They want to skip the middle step in shifting from a big house to a condo to a retirement center. Many want to sell their primary home and move into a comfortable retirement setting to pursue other interests.”

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