NOVI, MI (September 8, 2014) - Construction of a new, 94-apartment home residence building at Fox Run retirement community in Novi, MI, is now underway with 64 percent of the building already being reserved.
"The time is right for growth in the form of a new residence building because our occupancy is nearly full and the list of people wanting to move to Fox Run has grown over 35 percent within the last two years," Assistant Executive Director Fred Moschetta said.
The new building is named Edgewater in honor of Detroit's classic amusement park. For many Michiganders, Edgewater evokes the warmth and carefree spirit of Detroit's golden era, according to Moschetta.
"Edgewater will be built near a pond, and a select number of apartment homes will feature soothing water views," he said. It is the first new first new residence building in six years.
Edgewater will feature 16 never-before-seen apartment home floor plans, including a deluxe, two-bedroom, two-bath apartment home with a den and balcony or patio. An extra-large, two-bedroom, two-bath home with a patio will also be found at Edgewater, as will a deluxe, two-bedroom, two-bath unit.
Like all of the apartment homes at Fox Run, the units at Edgewater will offer 90 percent refundable entrance deposits ranging from about $200,000 to $400,000. Depending on the unit size and occupancy, 2014 monthly service package rates range from $1,930 to $2,980. In addition to 24/7 home maintenance, the monthly service package includes all utilities (except telephone), use of all campus amenities, flexible meal plan options, and access to Fox Run's clubs and activities.
When construction of the Edgewater is complete, Fox Run will feature a total of eight residence buildings on its spacious campus. Moschetta said he expects about 150 new residents to move into Edgewater, and when that building is full, there will be nearly 1,200 active retirees living at the community.
Edgewater is scheduled to open in spring 2015.
As a fee-for-service continuing care retirement community, Fox Run offers higher levels of care on campus. People only pay for that care should they ever need it.
Fox Run is managed by Erickson Living.