|Price/Rent PSF||$ 3,400,000.00|
CHARTER TOWNSHIP OF CLINTON, MICHIGAN SUBMARKET
The development site is located on western side of South Groesbeck Highway, about 3.8 miles west of the I-94 interstate and about 2.0 miles north of 16 Mile Rd., just south of Cass Avenue on South Groesbeck (M-97) in Clinton Township, Macomb County, Michigan.
As of the 2010 U.S. Census, the local population in Clinton Township was 96,796, making the it the tenth largest municipality and most populous township in Michigan. According to 2016 U.S. Census estimates, there is a total population of 244,087 residents within a 5-mile radius of the site. Of the total population within a 5-mile radius, 28.9% are adult children, 16.7% are of age 65 and over, 7.4%are of age 75 and over and 2.5% are of age 85 and over. All of these figures compare very favorably to the relative density figures for the state of Michigan.
Additionally, of the population within a 5-mile radius, the 65+, 75+ and 85+ population groups are projected to grow 3.1% (0.7% annually), 1.5% (0.4% annually) and 1.1% (0.2% annually), respectively, by 2021. These figures all compare favorably to the projected growth rates for the state of Michigan, further demonstrating the ongoing need for seniors housing services in the local market. Lastly, a relatively affluent adult children population group exists within in a 5-mile radius of the site, with median household income levels of 76,011. This figure is projected increase 10.9% by 2021 to $84,262.
Lino Realty, Inc. is pleased to present The Charter Township of Clinton Seniors Housing Development Parcel, a 10.0+acre parcel located in Clinton Township, Michigan. This offering presents an attractive opportunity to acquire a development site that has been zoned as Special Purpose Senior Living (SP-1) for up to 350 units of independent living, assisted living and memory care. A feasibility study prepared by Plante Moran has concluded that the development parcel represents an opportunity for an incoming senior housing owner, operator, or developer to fill an immediate demand gap in a growing Detroit suburb with an aging population.