Giant residential development will rise from one of Lake Oswego's few remaining prime properties
Portland Business Journal
December 6th 2016
There aren't many prime properties left for developing in Lake Oswego, and with The Springs at Lake Oswego's plans to build a 216-unit senior living community at the corner of Boones Ferry and Kruse Way, there will be even fewer.
According to the Lake Oswego Review, which posted an update on its Facebook page yesterday, McMinnville-based The Springs Living, which has more than 15 senior communities across Oregon and Montana, is planning The Springs at Lake Oswego for the 4.5 acres at the northwest corner of Boones Ferry and Kruse Way. Construction is set to begin this summer.
The four-story development, as approved by the Lake Oswego Development Review Commission in late 2015, initially called for 229 units, but that has since been trimmed back. The Review reported that the 216 units will include 105 independent living units, 87 for assisted living and 24 for memory care. Myhre Group Architects designed the project.
Initial marketing materials from The Springs notes that the new community will have a pool and spa, an in-house movie theater, a cafe and a resident wellness and therapy center.
The new community is just one of the large senior living projects in the works in the area. On the other side of Lake Oswego, the Mary's Woods senior living community is planning a sizable expansion that will add four new buildings for a total of 114 units, as well as an additional building of 48 units for assisted living.