The Wolff Company—a Scottsdale-based private equity firm and senior living developer—has broken ground on Revel Kirkland, a new independent living apartment community located on the former LifeBridge Church site in the Totem Lake neighborhood. Characterized by celebrity chef-driven dining options, personalized amenities and spectacular spaces, Revel Kirkland is expected to open in 2019 and will set a new standard of quality and service in the senior living sector.
Recent population estimates from Washington’s Aging and Disability Services show that residents aged 60+ will present nearly 24% of the population in King County by 2020, while housing options currently in development are rising at a much slower pace of 4.5% nationwide.
“Nationwide, and in places like Kirkland, there is an underserved and growing market of renters aged 55+ looking for a convenient, upscale, lock-and-leave lifestyle,” said Mike Milhaupt, V.P. of Senior Development at The Wolff Company. “Revel Kirkland will give prospective residents a higher quality senior living option where choices have previously been limited.”
Once completed, the five-story property will offer 151 studio, one-, and two-bedroom independent living residences. Built in a 12-acre natural setting, Revel Kirkland will be surrounded by mature trees and landscaping replete with walking trails and other outdoor amenities. The community will include a full-service salon and spa, an indoor saltwater swimming pool, and a fitness studio. The lifestyle at Revel Kirkland is further enhanced by celebrity chef-driven dining experiences including multiple restaurants with innovative seasonal menus from acclaimed chef and Food Network star, Beau MacMillan.
“This community will fill a gap in the market and set a new benchmark for senior living rental communities,” said Milhaupt. “Revel Kirkland will offer the resort-style amenities and experiences that make senior living something to look forward to and celebrate.”
Revel Kirkland joins a portfolio of 20 senior living communities The Wolff Company began developing in 2016. In 2018, the company has continued to broaden its portfolio of market-leading communities with plans to invest $300-$400 million annually in the development of new independent living communities, in addition to the purchase and renovation of existing communities.
About The Wolff Company
The Wolff Company is a private equity firm headquartered in Scottsdale, Arizona, with offices in Washington, Massachusetts, and California. For more than six decades, Wolff has invested in, acquired and developed high-quality, amenities-based multifamily properties.