CNJ staff photo: Tony Bullocks A banner at the Wheatfields assisted living and memory care community Monday advertises that it will be opening soon. Wheatfields is scheduled to open sometime this summer.
After almost three years tangled up in bankruptcy and foreclosure, managers of the once-deserted Wheatfields Senior Living Community expect the facility to be up and running later this year.
In the final stages of construction with interior finish work under way, the facility will be managed by Seasons Management of Lake Oswego, Ore., according to a press release.
In April, a Vancouver company, VPS7 LLC, purchased the property from PlainsCapital Bank of Lubbock — which held the property after it was included in the bankruptcy of housing giant Sunwest Management Inc. — for $5.2 million.
The facility plans to feature 67 studio, assisted living and 24 apartments for residents with Alzheimer’s and other memory impairments, in addition to 10 cottages, according to a press release.
The facility, located just south of the intersection of North Prince Street and Wilhite Road, will also offer social and recreational amenities, the release said.
Construction of Wheatfields ground to a halt in 2008 and left local contractors filing liens — more than $3 million worth, some eventually paid, some not.
In October 2009, Sunwest Management was pulled into bankruptcy and the Securities and Exchange Commission — which filed a March 2009 suit against Sunwest, contractor KDA Construction and numerous others for defrauding investors — estimated that as much as $400 million in losses could be suffered by investors and creditors.
President of Seasons Management Eric Jacobsen was one of 30 original Wheatfields investors.
Interviews are being conducted to fill staff positions and an open house is scheduled for July 24, Jacobsen said in the release.