Wallick Communities is one step closer to introducing an assisted living product designed for seniors of all income levels—a revolutionary idea in the marketplace.
The company recently acquired the 50-year-old Ramada Columbus Airport hotel located at the corner of Broad Street and Hamilton Road in Whitehall, Ohio. It plans to transform the hotel property into 131 assisted living suites, with space for dining, activities and resident care.
Wallick purchased the hotel for $2.1 million and will invest nearly $10 million in improvements. Construction is expected to begin in early February.
“This project is clearly unique because it’s one of the very few assisted living communities designed to serve this specific market segment,” said CEO Tom Feusse. “It’s also quite timely, considering that well over 50 percent of seniors today cannot afford assisted living.”
“This new product addresses that large and significantly underserved market,” said Feusse. “Wallick is uniquely positioned to do so, given our experience in both assisted living and affordable housing.”
The new community will be named Laurel Woods on Broad and is slated to open in the spring of 2016.