Clayton on the Park is ready to reopen as a high-end retirement community
Sunrise Senior Living and Conrad Properties Corp. are capitalizing on one of the few bright spots in the depressed housing market: They are reopening Clayton on the Park this week for luxury independent senior living.
They have transformed the nine-year-old property from a luxury boutique hotel and apartments into Clayton on the Park, a Sunrise Senior Living Residence, with 208 designer apartments and top amenities.
A grand-opening celebration is scheduled for Saturday so the public can tour the converted building at Bonhomme Avenue and Brentwood Boulevard.
Sunrise spent $12.5 million to gut and remodel the first three floors, including the area where the old Finale nightclub was located, and to refurbish all the residences. Residents of the 23-story high-rise will have a clear view of downtown Clayton’s business towers or of Shaw Park’s public pool and gardens.
Sunrise expects to attract residents who want a top-flight building that’s in many ways like a luxury hotel, but who also want special support services.
"This is for vibrant seniors who want to continue their lifestyle and opportunity in a maintenance-free, worry-free environment," said Stacy Tew-Lovasz, who is executive director.
Rents will be begin at $2,800 a month for a studio and go up to $9,200 for the six three-bedroom, two-bathroom units. That includes housekeeping, laundry, utilities and "an incredible array of programs and services," including a concierge, said Tew-Lovasz bad credit payday loans. The building has 24-hour security and special emergency-response systems in each apartment.
Those who knew the building as a hotel will see a new art studio with floor-to-ceiling windows, a theater, a remodeled business center, a spa, a brain-fitness gym, new dining rooms, a wine bar and new art and colors around the building.
Tew-Lovasz said that "in keeping with Clayton’s focus on the arts, we have original art that includes two Chihuly pieces."
Wendy Timm, chief financial officer of Conrad Properties, said the Clayton-based company had enjoyed success in the original Clayton on the Park, with its 213 luxury apartments and boutique hotel suites. But, she said, the proposal from Sunrise was too good to pass up.
"We had a high-performing asset with Clayton on the Park," Timm said. "Sunrise approached us with a compelling opportunity to convert and operate as independent living luxury senior apartments as an operating joint venture."
Under the joint venture, Conrad Properties and its chairman, Bob Saur, manage and maintain the majority ownership of the building, Timm said. Sunrise is the manager of the senior living operation and has an ownership interest in the property, she said.
"In the real estate business, it’s always about timing," Timm said. "It was good timing and compell