The Wolff Company Breaks Ground on New Senior Living Community in Kirkland
Revel Kirkland sets new benchmark for senior living amenities in Washington as demand for quality senior housing options continues to outpace market-wide development
Scottsdale, Arizona and Kirkland, Washington (October 31, 2018) – 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. For more information about The Wolff Company, visit awolff.com.
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