Pathway to Seniors
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|The Village of Vernon Hills and the South Side of Chicago are getting new affordable seniors living communities. Chicago owner/operator Pathway Senior Living's new Victory Centre of Vernon Hills will be its 11th community, comprised of 111 seniors apartments and a 120-bed supportive living facility. The new 72-unit,LEED-certified seniors apartment building at Victory Centre of South Chicago (93rd and Harbor Drive) will open later this quarter. (By the way, having two Victory Centres is the textbook definition of win/win.) Construction financing for both deals comes from Illinois Housing Development Authority and other state tax credits.|
|The company was co-founded by Jerome Finis (center, here withAaron D'Costa and Michael Vick) in 1997 and Jim Keledjian (not pictured). The two re-developed the former Joliet Catholic High School and priory into seniors living facilities just as their operator went out of business, so Pathways became an operator itself. Since then, they've found a niche in seniors affordable housing, with 10 assisted living centers and five seniors apartments in the Chicago area, as well as one in Detroit. They tell us 2011 could bring an expansion beyond Chicagoland for the company.|