Senior Housing Operator Plans Seventh Local Site

Publish Date:

Saturday, January 26, 2008

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News Organization:

Pittsburgh Business Times

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A national senior housing operator will open its seventh Pittsburgh-area facility next year, one of four similar projects in the works in the city's northern suburb of McCandless.

McLean, Va.-based Sunrise Senior Living has begun work on a 75-unit assisted living facility on an 8.95-acre tract, off Babcock Boulevard, according to McCandless Land Use Administrator Bruce Betty.

Sunrise spokeswoman Sara Krueger said the four-story facility will open in late 2009 and employ about 60. The cost of the facility was not disclosed.

The McCandless center is only the second Pittsburgh-area facility built by Sunrise; the first was built in Upper St. Clair in 2006, and the other centers were acquired, Krueger said.

Sunrise, a publicly traded company, in December severed ties with President Thomas Newell and two other senior executives, CFO Larry Hulse and Treasurer Carl Adams, after an internal audit found accounting irregularities, according to a statement issued by the company.

Sunrise named Richard Nadeau CFO and Julie Pangelinan chief accounting officer, replacing Adams. Sunrise plans to file restated 2004 and 2005 financial statements in March.

Despite the management shake-up, Krueger said the company plans to continue its growth, but declined to discuss specifics of those plans.

Three other senior housing projects are under way or planned within a few miles of the Sunrise site.

The 217-bed Vincentian Home has begun reducing its bed count to 180, while replacing the beds with 20 assisted living units, said Sister Theresa Novak, president and CEO of Vincentian Collaborative System.

Vincentian opened 52 assisted living units in 1997 at its McCandless campus, located near Perrymont and McKnight roads.

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