PRESS RELEASE
For Immediate Distribution
For more information, contact:
Andrea Libey, Marketing and Communications Manager
Weitz Selected to Build
New Low Income Senior Housing Complex
PHOENIX, Ariz. (January 11, 2008)…Mike Bontrager, president of the Southwest Business Unit of The Weitz Company, is pleased to announce that they have been selected to construct a 69-unit senior housing complex, known as McCarty on Monroe, located at 1130 East Monroe Street.
The McCarty on Monroe residential facility will serve low-income seniors at or above 62 years of age. The 69 unit rental community will offer 66 one bedroom apartments from approximately 700 square feet and three two bedroom apartments at approximately 1200 square feet with eight of the apartments being totally ADA accessible (sensory/mobility). The project is owned and operated by McCarty on Monroe LLC, and has been assisted with Low-Income Housing Tax Credits awarded by the State of Arizona, Department of Housing.
The construction project will consist of a four-story building having two elevators, secured parking, community rooms, administrative office and maintenance facilities on the ground floor and all 69 apartments on the second through fourth floors. The common area amenities will feature a large community room with kitchen, a computer/activity room and large landscaped inner courtyard with walking and seating areas. Laundry rooms will be provided on all residential floors and each apartment will have washer and dryer hook-ups, dishwashers and microwaves. The complex will be gated, have security access and provide gated garage parking for residents.
Weitz, considered one of the leaders in senior living construction, has developed staff and services particularly sensitive to the special requirements of these types of facilities, whether it is new construction, an addition or extensive remodeling. They are currently performing construction services on the Promenade at the Beatitudes Campus and Sagewood, both multi phased senior living facilities in North Phoenix.
The estimated total construction cost for this project is $9.5 million with a construction start date of spring 2008.
About The Weitz Company
Founded in Des Moines, Iowa in 1855, The Weitz Company is the second oldest general building contractor in the United States. By the 1980s, the company expanded its horizons by appealing to the national market, and today Weitz is the 19th largest domestic general building firm and the 19th largest construction manager at risk firm in the United States.
Weitz Lite, a streamline division of Weitz Southwest, dedicated solely to tenant improvements and smaller scale general contracting in the Phoenix Metropolitan area was developed in 2000 and continues to be an integral part of the Business Unit’s success.
The Southwest Business Unit is pleased to be celebrating 30 years of exceptional service in Arizona and 153 years as a company.