Rockwood at Whitworth Completes Financing

October 15, 2020

ROCKWOOD AT WHITWORTH COMPLETES FINANCING FOR
$120,425,000 COMMUNITY-WIDE REDEVELOPMENT
________________________________________

The Two-Phase Project Will Completely Transform the North Spokane
Senior Living Community with New Apartments, Amenities and Services
________________________________________
SPOKANE, WA. – Rockwood Retirement Communities has successfully completed the second and final bond financing for the complete redevelopment of Rockwood Hawthorne into Rockwood at Whitworth in north Spokane. The second bond financing of $81,355,000 will be used to build the second phase, the independent living apartment homes and common amenities. The redevelopment is happening in a phased approach in order to allow current residents to move into the first building, which is scheduled for completion in March of 2021. The first phase, Palvella Glen, will feature 48 assisted living apartments, 24 memory support suites, and common spaces for residents and families to enjoy.
Palvella Glen will deliver the highest level of care through a new “enhanced assisted living” model aimed at keeping residents in their comfortable assisted living apartments while receiving care. Because of this new service delivery method, Rockwood will close its small 20-bed skilled nursing once the new building is complete. All current residents have chosen a new apartment in Palvella Glen and Rockwood is planning a “white glove” move for them on moving day. “Our goal is to make the moving day as stress free as possible. We have a hospitality suite set up where residents can relax while the professional movers pack and unpack, so that when they walk into their new apartment it feels like home,” says Rick Milsow, Executive Director of Rockwood at Whitworth.
The second phase of construction, which is anticipated to take 20 months to complete, will feature 117 independent living apartments and an array of exciting amenities and services, including:

• Multiple dining venues
• Coffee shop/Smoothie bar
• Multipurpose event space
• Fitness center
• Bar and lounge
• Theater
• Salon/spa
• Outdoor courtyards
• Underground parking for residents

“With our first phase of construction nearing completion, it is wonderful to see the future of retirement living becoming reality. Our second phase, the independent living building, is already over 83% pre-sold, which shows there is great response from the community-at-large to our new vision for retirement living,” said Alan Curryer, Rockwood Retirement Communities’ President and CEO. “We thank all our partners who helped us get to this stage as we reshape our community. The immediate and long-term benefits of this investment, both through job creation and resident satisfaction, simply can’t be overstated.”
A partnership formalized in 2019 between Rockwood Retirement Communities and neighboring Whitworth University looks to promote intergenerational opportunities for residents by giving them access to discounted courses and privileges to the library, athletic and performing arts events at the university, among other opportunities. In exchange, Whitworth students will have employment, internship and intergenerational opportunities with the residents. “Here at Whitworth we are all looking forward to watching our partnership with Rockwood unfold as the new community opens and welcomes residents. Many of our alumni have chosen Rockwood at Whitworth as their future home and there is great excitement about all of the wonderful interactions that lie ahead for residents, students and alumni,” said Larry Probus, Whitworth University’s Vice President of Finance and Administration.
Spokane-based NAC Architecture and Walker Construction Inc. are responsible for the project’s design and construction, respectively.