The new senior living complex will offer dining options from a bistro to a club room to a formal dining.
- It will have a performance theater.
- And a woodworking/craft studio.
- It will offer a salon and spa.
- And there will be a pet grooming center.
“We’re not designing for a senior population. We’re designing for ourselves,” said Dan Peterka, founder and CEO of Grand Living. “We look at it as where would we want to live?”
The Sioux Falls project, which sits between Interstate 29 and Marion Road in the Lake Lorraine development, is the first for Grand Living. The company was founded two years ago by colleagues who are veterans in the senior living industry.
Peterka and chief operating officer Melinda Seifert have worked together for 25 years.
“We worked for another company and left to start up Grand Living to take it to another level,” Peterka said.
The duo is familiar with the Sioux Falls area. Peterka is a native of Miller and Seifert is from Iowa.
A cold-call from commercial broker Ryan Tysdal of Lloyd Cos. started the conversation about building in Sioux Falls.
“We had just formed Grand Living and were putting together our business plan,” Peterka said. “He (Tysdal) said, ‘Dan, I know you guys know the senior industry, and I want you to consider coming to Sioux Falls.’ I said, ‘Absolutely.’ This is like going home for all of us.”
Market research confirmed the opportunity, Tysdal said.
“It was very much for them run, don’t walk to Sioux Falls, because there’s a lot of opportunity and a lot of need,” he said. “Facilities in town have waiting lists.”
While they first toured Lake Lorraine on a frozen February day, it immediately became the site of choice, Tysdal said.
“We like the nearby retail, nearby hotels, restaurants,” he said. “The walkability of the whole site along the lake really fosters good activity.”
The project will be a 200,000-square-foot building on four levels. There will be 156 apartments, including assisted living and memory care units.
The multiple dining areas are designed to offer seniors options, so they don’t eat multiple meals a day in the same place. There also are programs meant to foster lifelong learning, as well as opportunities for residents to play musical instruments and make things. A lot of people later in life enjoy doing a craft they did for a while when they were younger or continue to do one they’ve always done, music is a major part of the program.
Grand Living, which is based in the Twin Cities, also is partnering with Minneapolis-based Ryan Cos. to design and develop the project.
Ryan has partnered with other senior living businesses on projects in Chicago and the Twin Cities and was attracted by Grand Living’s industry experience and vision, said vice president of development Eric Anderson.
“While you have to do health care well, it’s all about the hospitality model,” he said. “It has to be a place where you and I want to live.”
Grand Living plans to start construction this fall and take applications then. There already have been inquiries, Peterka said. Construction is expected to take 14 months.
Others also might be able to live at Lake Lorraine sooner than originally planned. There has been so much interest in housing that the developers – Van Buskirk Cos. and the Friessen family – are taking proposals.
“We’re very hopeful we’ll get a project figured out,” Van Buskirk said. “There’s tons of interest. So we want to see who wants to do what and what seems like the best fit.”