Allegro Expands Senior Living Business with New Community in Richmond Heights, Missouri
Allegro Senior Living, a leader in managing senior communities and St. Louis-based company with headquarters in Clayton, began construction on its 12th community. In conjunction with IronRock Investments, Allegro jointly funded the project located on Bellevue Avenue near the SSM Health St. Mary’s Hospital campus. This will be the 1st community in St. Louis for Allegro who operates 11 other properties throughout Florida and Kentucky. The Richmond Heights community will contain 87 units within 91,000 square feet offering premier Assisted Living and Memory Care services to the area’s seniors. First occupancy is expected in the fall of 2018. When complete, Allegro anticipates creating 80 permanent jobs in addition to 75 construction jobs to build the project.
Allegro is a well-respected leader and expert in the senior living industry with a long-standing reputation of efficiently managing senior communities. Allegro’s most recent development is opening this fall in Winter Park, Florida near Orlando. The company is proud to have a development opportunity in the St. Louis area, home to its headquarters.
“We are grateful to Lawrence Group, IronRock Investments and Commerce Bank, who helped make this project possible,” says Larry Schiffer, Chairman & CEO of Allegro Senior Living. “Allegro has a strong brand in senior living and we are proud to finally introduce our brand to the home of our corporate headquarters.”
Lawrence Group, also headquartered in St. Louis, is providing architectural design and construction management services.
The new 4-story Allegro will primarily cater to Assisted Living residents with the 4th floor dedicated to Memory Care services. Luxury accommodations will include a bistro and bar with outdoor balcony dining, stadium theater, fitness center, full-service salon & spa and therapy services. The community will represent the latest best practices in programming and design, following up on the successful resort-style approach of other Allegro communities.
Financing for the project was provided by Commerce Bank.