Construction will soon begin in east Owensboro on a $14 million, three-story senior community home building that will offer assisted living, memory care and independent living apartments. City officials approved an agreement earlier this week that allows the project to be completed through a special program at no cost to taxpayers.
Trilogy Health Services will contain 38 assisted living, 20 memory care and 48 independent living apartments in a mix of studio, one- and two-bedroom suites. Located at 3050 Calumet Trace (across the street from the new Daviess County Middle School), the project is expected to be completed in the first half of 2022.
Trilogy Management Services and DMK Development first announced their partnership and plans for the facility last year.
According to Ben Spies, DMK vice president of development and finances, the construction portion of the project will be focused on using as many local resources as possible.
“We do our best to source as much construction as we can at the local level,” Spies said. “Everything about these communities is fixated to the City of Owensboro.”
Spies said they’ll also look to the Owensboro-Daviess County community to fill a number of full-time jobs as well, including an executive director and activities director plus nursing and dining staff.
Officials said an estimated $1.5 million in annual direct salaries and $15 million in construction jobs would be provided, including 80 direct construction jobs.
“These projects are fantastic for local communities,” Spies added. “They provide a lot of incentives and high-paying jobs.”
The municipal order approved by commissioners regarding the project meant the City of Owensboro was approving the application submitted by DMK for EPAD (Energy Project Assessment District) financing.
According to attorney Laura Itheilmann, Kentucky became one of 37 states that offered opportunities through EPAD programs in 2015. Owensboro adopted the program that year as well.
“The City will collect an assessment every year when it collects ad valorem taxes,” Itheilmann said, adding that those assessments would be collected over a 20-year period ending in 2046.
The municipal order also allows the City to collect a fee every year to cover the costs of services associated with the assessments at a value of $1,418, she said.
City Manager Nate Pagan said the EPAD program allowed properties to request an assessment at higher or supplemental property taxes that are rebated as a method to finance their projects. Benefits of the financing program include lower interest rates, no down payment requirements and the EPAD’s assessment remains with the property owner, should the property owner decide to sell.
“This is done at no cost to the taxpayer or City,” Pagan said.
Spies said his staff at DMK were ready to get started on the project, adding that Trilogy currently managed 111 communities and more than 10,000 residents across the country.
“We provide a safe, vibrant community that offers assistance our residents need,” he said. “The demand for senior communities like ours in Owensboro is plentiful, to say the least.”