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 Real Estate Blog 
Saturday, March 14 2009

There are new developments in line for down town Evansville. We wish all the best to the Kunkel Group in their latest endeavor.

New assisted-living home will be built on Knights of Columbus property
A new home for assisted living residents, presently housed at Riverwalk Communities (formerly known as McCurdy Healthcare Center) Downtown, is planned for the site of the old Knights of Columbus at 304 Market St., across from the Coliseum.
The Kunkel Group, Inc., Evansville-based developers, revealed Friday that it has entered into a build-to-lease agreement with Riverwalk Communities for establishing a $6.9 million assisted living/adult day-care facility on the Market Street site.
The facility’s name will remain Riverwalk Communities.
Work on constructing the four-story building with a lower level is expected to begin soon.
It is expected to be complete for opening this summer, said Chuck Harper, Kunkel director of sales and marketing.
Most of the facility will feature new construction, he said.
The existing Knights of Columbus building will be renovated for incorporating in part of the project, once the building’s interior is gutted.
The new structure is expected to offer around 57,972 square feet of space for 108 beds for Medicaid waiver-eligible assisted living residents.
It also will include 10,000 square-feet-of space in the lower level for an adult-day care program.
The facility will offer a chapel, gift shop, dining area and corporate offices as well.
Ben Kunkel, head of the Kunkel Group, said the project will be funded via commercial loans.
Plans continue for converting the old McCurdy into condominiums.
A name for the proposed condominiums is still undertermined.
The proposed renovation, itself, is being undertaken by City Centre Properties, a partnership between Scott-Hilliard-Kosene and The Kunkel Group, recently said Steve Scott, president of Scott-Hilliard-Kosene.
The McCurdy plans were not discussed Friday. The focus at a media conference was kept on the proposed assisted-living facility, instead.
The search for a replacement location for the residents of Riverwalk Communities took nearly five years.
“After searching citywide, we found a new home right in our own backyard ... Downtown,” said Chris Goad, Riverwalk administrator.
“It is definitely a win-win situation for the residents of Riverwalk Communities, Evansville Downtown redevelopment, the historic Knights of Columbus building and the grand old McCurdy Hotel (as the health care facility was known for many decades),” said Mike Weber, Riverwalk Communities owner.
The Kunkel Group predicted the proposed new facility, located at one of the city’s prime gateways off the Lloyd Expressway, will help pretty up the Downtown area.
The all-electric, state-of-the-art facility also is expected to help reduce energy and maintenance costs for the health care operation.
The proposed site includes nearly one-half of a city block, bounded by Third, Market and Court streets, said Harper.
He and Kunkel said The Kunkel Group purchased the old Knights of Columbus building several years ago for $150,000 from a group of local developers, known as Sandbaggers, LLC.
The McCurdy’s current 80 residents are being given the option to relocate to the new facility or terminate their contracts, officials said.
A high number of the residents have expressed an interest in relocating there, they said.
One of the residents, Emerson Lindy, appeared excited about the prospect as he tooled around the McCurdy’s rear lobby, overlooking the Ohio River, in a wheelchair.
“This will be a good place,” he said as he looked over an architect’s rendering of the proposed facility.
Posted by: Rolando Trentini AT 07:00 am   |  Permalink   |  Email

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