Manhattan nursing home deal with Chetrit, Stellar faces opposition

TRD New York /
Aug.August 23, 2010 06:00 PM

Jewish Home CEO Audrey Weiner, Stellar founder Larry Gluck and 120 West 106th Street

Jewish Home Lifecare, a not-for-profit system that owns nursing homes in Manhattan, the Bronx and Westchester, plans to spend $250 million on a 24-story, 408-bed facility at a site on West 100th Street, between Amsterdam and Columbus avenues, in Park West Village. Using a unique model of care that offers residents private rooms and bathrooms, an open kitchen and a communal living area, it would be Manhattan’s first “Green House” for the elderly, the Wall Street Journal reported. But the plan has met with protests from local residents who say the project’s construction will overwhelm their congested neighborhood. Another challenge that remains to be settled is the finalization of Jewish Home’s planned land swap with the developers, the Chetrit Group and Stellar Management. Under the deal, Jewish Home would give the developers its existing facility at 120 West 106th Street, along with a building on West 105th Street. In turn, the developers would give Jewish Home the West 100th Street site, which is about one-third the size of its existing facility, and “tens of millions of dollars,” according to Audrey Weiner, Jewish Home’s president and CEO. [WSJ]

 

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