One of the priciest high-rise projects in Tysons, Virginia, has “topped out,” with developers completing the final concrete pour of the roof.
The Mather, scheduled to open in 2024, will be a luxury senior-living condo community in two buildings. Phase one includes 179 condo units, and phase two will have 114 units. The $500 million project, at 7929 Westpark Drive, is being co-developed by nonprofit senior community developer Mather and Westminster Capital.
When people move from a single-family home to a smaller space, like an apartment, downsizing is often an integral part of the process and can become a project in itself.
Gale Morgan, Senior Vice President of Sales at Mather, spoke about the reasons to downsize and why doing it right and early on makes the overall move a lot easier.
Mary Leary, CEO and President of Evanston, IL-based Mather, will celebrate her 20th anniversary at the helm of the organization in June of this year. During her tenure, the 81-year-old not-for-profit organization has experienced huge growth and expanded its reach to touch the lives of nearly 200,000 people annually.
Leary has been instrumental in that growth, transforming Mather into an innovation incubator for ideas and “next practices,” and she plays a significant role in shaping the present and future of this industry. Leary was recently interviewed by Senior Living News to get her perspective on the current state of the company as well as key industry issues.
A pair of senior living high-rises and community being developed in Tysons, Virginia, is already 80% pre-sold, and the project won’t be finished until 2024.
Construction on The Mather began in October, and is now going vertical. The project was originally announced in 2019.
When The Mather Tysons opens in 2024, the senior living facility might employ some workers of the artificial intelligence variety.
Rest assured, these robots won’t be capable of planning a HAL 9000-style takeover. Instead, they will perform simple, repetitive tasks, such as delivering food to tables and apartments and cleaning hallways.
Construction work has moved above ground on a pair of buildings that will bring 300 new apartments for older residents to Tysons.
Vertical construction began earlier this month on The Mather at 7929 Westpark Drive, the senior living provider Mather announced in a news release yesterday (Tuesday).
Mather is marking its entry into the commonwealth of Virginia as vertical construction is set to begin on The Mather at Tysons in northern Virginia. The company already operates life plan communities (also known as continuing care retirement communities) in Illinois and Arizona.
Gale Morgan, senior vice president of sales, told the McKnight’s Business Daily that the Mather began local infrastructure construction, such as widening the streets and putting in a stoplight, in March 2021. Vertical construction is getting underway now that grading and other site work preparations were finished in the fall.
Evanston, IL (April 19, 2022) – Mather, an award-winning senior living provider, based in Evanston, Illinois, announces that vertical construction has begun on The Mather, a luxury Life Plan Community in development at 7929 Westpark Drive in Tysons, Virginia.
“We are very excited to bring The Mather to Tysons,” said Mather CEO and President, Mary Leary. “’Going vertical’ is symbolic of the successful effort the team has put forward to obtain financing, exceed sales projections, and break ground — especially at such an unprecedented time these last two years.”
A high-rise project that aims to capture demand from seniors looking to live in walkable, urban areas has landed a major construction loan.
The partnership of Mather and Westminster Capital secured a $300M construction financing deal from Huntington National Bank for a 378-unit senior housing development in Tysons that will reach up to 27 stories high, Walker & Dunlop announced Tuesday.
Senior living nonprofit Mather is poised to break ground on its senior living highrise project near Washington, D.C. thanks to newly announced financing.
Through syndication led by The Huntington National Bank, Mather has secured $300 million in construction financing for The Mather, its forthcoming life plan community in Tysons, Virginia. Evanston, Illinois-based Mather also operates senior living communities in the greater Chicago market and in Tucson, Arizona.