Artessa Development Announces Latest Cooperative Community, Artessa Maple Grove at Rush Hollow
February 27, 2024
What Is a Co-Op? Explore the Benefits of Cooperative Living for Active Adults
August 21, 2024
The intersection of Maple Grove Parkway and County Road 81 may not look like much now, but in about two years, the empty field that’s currently on that site will be home to empty-nesters.
“This we really consider empty-nester housing, active adult housing,” said Tim Nichols, CEO of Lifestyle Communities.
The company plans to build a new senior living community at that site for people age 62 and older called Artessa Maple Grove at Rush Hollow.
“We’re really focusing on the wants and the needs of the people that otherwise don’t have to sell their home,” Nichols said. “They don’t have a need to move because they have an ailment or they’re frail, elderly. These are active, vibrant individuals.”
The Artessa Maple Grove at Rush Hollow development will include 80 co-op residences (74 apartment-style units and 6 detached villas).
The occupants will own their respective living spaces and share all of the various amenities in the building, such as the fitness studio.
Pricing starts at around $180,000.
HIGH DEMAND FOR CO-OPS
“The demand for cooperative living is quite high right now,” said Dena Meyer, president of Artessa Development, a subsidiary of Lifestyle Communities.
Meyer’s role is to bring this project to life. Artessa has developed 43 cooperatives throughout the Twin Cities, and she says this style of living is an attractive option for seniors who are tired of the maintenance associated with single-family homes.
“We have had tremendous interest on this project,” Meyer said. “Not only because of the location, but also just because of the lifestyle and the availability it gives people — from a financial flexibility and freedom — to kind of do all the things that they want to do instead of what they have to do.”
The company officially acquired the land earlier this month. The proximity to shopping and restaurants is another key selling point. Now the next step is to get prospective residents to buy-in.
“We believe that we’ll have a tremendous response from that initial marketing push,” Nichols said.
The developers say they’d like to get about 60 percent of the units sold before they begin construction. There are two informational meetings for prospective buyers on March 20 at the Rush Creek Golf Club in Maple Grove.