Developer will break ground on $10 million senior living facility by next summer

August 13, 2019 | 3:30 am

Updated August 12, 2019 | 11:02 pm

Rendering of Grace Senior Living Community provided by Wabuck Development Company

If all goes according to plan, Owensboro could see the beginnings of a new senior living facility by next year. Officials with Wabuck Development Company are hoping to break ground for Grace Senior Living Community by late summer to early fall of 2020.

Owensboro Health has been finalizing the sale of several lots in the 1200 block of Center and Hathaway Streets for the development of Grace Senior Living Community. The property will be owned by Wabuck Development with plans to build affordable housing units for residents who are at least 55 years old. A 5,000-square-foot adult daycare facility will also be built onsite to be operated by Horizon Adult Healthcare

For the past couple months, Vice President of Wabuck Development Tracey Glasscock has been finalizing funding award proposals for the project. As of Friday, those funding applications have been submitted, putting the future of the senior living facility one step closer to reality.

“I submitted a $1 million funding award application [on Thursday],” Glasscock said. “That application provided information on the projects and its direction.”

On August 15, another funding application will be sent to the Kentucky Housing Corporation. The Tax Credit Funding Application and the Federal Home Loan Bank of Cincinnati will look over these applications submitted by Glasscock and make the decision as to whether or not they receive these grants by November 2019 and January 2020.

These funding awards, many of which Wabuck used to fund the Nicky Hayden Apartments to be built across from the Daniel Pitino Shelter, will help get Grace Senior Living Community off the ground as well. The facility is slated to be a three-story residential building with 48 one-bedroom apartments, and will be designed to promote independent living and quality of life for seniors who live there. Grace will also offer daily living and healthcare services, recreational activities and other programs that encourage empowerment.

“Owensboro Health Regional Hospital will have an area in this building where they may bring health services and enrichment programs to the elderly population, which fits well with their focus on older adults and aging,” Glasscock said.

The need for a facility like Grace Senior Living Community in Daviess County is one of the reasons Wabuck Development purchased 17 lots from Owensboro Health for $350,000. Studies show the availability of affordable housing for seniors in the local area is inadequate, Glasscock said.

The facility will be built in a centralized location that sits in close proximity to city bus access, the The Owensboro Regional Farmer’s Market and healthcare services, all of which help to empower the seniors who live there.

Glasscock said the entire project is expected to cost $9.8 million. The facility will be built from the ground up, so residents will be able to enjoy the benefits of living in a newly constructed building.

After next week, Glasscock said those at Wabuck Development will wait to hear whether or not they’ve been awarded the grants as the applications are scored individually. However, Glasscock believes there’s a good chance their project will receive the proposed funding.

“There is a lot of need for this in Owensboro,” she said. “I feel the Kentucky Housing Corporation will like the look of it, but it depends on what else comes through their funding pool. It’s a competitive process. We just have to keep our fingers crossed and hope they score us high enough.”

August 13, 2019 | 3:30 am

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