Oak Trace to Begin $150 Million Redevelopment
Oak Trace announces plans for a major redevelopment and expansion to meet the changing needs of the area population. Oak Trace currently features 247 residential living apartment homes and a variety of services and amenities. As part of its Life Care agreement, the community also provides a continuum of health care services and accommodations. The first phase of the redevelopment will include a new, modern-design health center with 66 catered living (assisted living) apartments, 28 memory support suites and 102 skilled nursing suites, with private courtyards and attractive views.
“One of the greatest benefits of living at Oak Trace is our promise to provide care when needed,” said Blaire Goldstein, executive director of Oak Trace. “The new health center will help ensure that we can care for our residents and area seniors long into the future.”
More than 130,000 DuPage County residents are already 65 or older, and that number is expected to grow substantially over the next 10 years with the aging of Baby Boomers. In terms of changing health care needs, a 2017 report from the Alzheimer’s Association projects the incidence of the disease to grow by 18% and affect 260,000 people in the Prairie State by 2025. Currently, an estimated 220,000 older adults living in Illinois have Alzheimer’s.
Construction on phase one of the redevelopment project will begin in September and is expected to be complete in 2019. Shortly thereafter, the second phase will begin with the addition of more than 150 residential living apartments. There will be a variety of options for floor plans and new amenities, including multiple restaurants, a fitness center and spa, and an expansion of the library and auditorium for continued learning and entertainment functions. This second phase will cost approximately $81 million.
“As a Life Care community that has provided independent living and a continuum of care for more than 30 years, it’s a natural step for us to expand and transform our community to continue meeting the needs of today’s seniors,” said Goldstein.
“We’re committed to reinvesting in our communities to provide residents the lifestyle and care they deserve and should expect from living in a Lifespace community,” said Ann Walsh, senior vice president of operations at Lifespace Communities, Oak Trace’s parent company.
A groundbreaking ceremony for the start of construction is scheduled for 2:00 p.m. on Wednesday, September 6.