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plans to open the 65,000-square-foot facilityh this fall at 4870 Belfort Road nextto St. Luke’zs Hospital. The assisted living and Alzheimer’s care facilityy will be able to offer more than 90 residentxs a variety of amenitiesand services. “Sunriser is excited to bring this new community to Jacksonville and believesthe area’s demographics make it a grea t place for its first community in Northeasyt Florida,” company spokeswoman Sara Krueger said of the new location. Referreed to as one of the company’ds “mansion projects” because of its home-like setting, the facility will also offefr a special program for those with onsetmemor loss.
McLean, Va.-based Sunrise Senior Living (NYSE: SRZ) operateds about 450 facilities aroundthe U.S., the United Kingdom and Germany, includinbg eight others in Florida. But the companuy has struggled financially in recent reporting a fourth quarter 2008 lossof $305.67 million and announcing that if it did not restructurw its debts to the satisfaction of its creditors it woulsd be forced to file for bankruptcy according to the Washington Businessz Journal. The company struck a new deal with lenders at the end of Aprilo and in May announceda cost-savingss plan that included laying off 150 employees, mostly at the company headquarters, and terminating the chief financial officer.
Sunrise Senior Living reportec less of a loss in the firs tquarter 2009, losing $18.2 million, or 36 cents per dilutedx share, compared with a net loss of $33.1 or 66 cents per diluted share in the first quarter 2008. Accordingy to the company’s latest earnings report, as of March Sunrises Senior Living had 14 communities under construction in Northu America andthe U.K. Sunrise of Jacksonvills started construction in December 2007 and when complete will emploh 75 to100 people. A company representatived declined comment on the cost of construction for the new facilituy in Jacksonville or planz for any future Sunrisee Senior Living facilities inthe area.
Glen Palmer, the Colliers Dickinson vice president who helped the compangy find the land tobuild on, said the compan y was at one point looking for multiple piece s of land in the area but stopped future developmenft plans because of the declining “We are fortunate to have this mansion care facility in Palmer said. “I expect that once the economy improvez and residentialsales return, Sunrise will consideer additional locations in Northeast Florida as they had originally
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