All inclusive senior living, enjoy life, let us worry about the rest!
Tapestry Companies are an integration of real estate companies involved in the in the ownership, management, development and financing of senior housing and multifamily housing with an emphasis on adaptive reuse and selected new construction projects.
Tapestry is involved in the full cycle of the development process including building acquisition, land acquisition, master site planning, municipal entitlements, debt and equity financing, construction management, and the continued property management of our developed products. Tapestry’s integration of staff managers, financing experts, attorneys, marketing and development representatives coordinate all aspects of each development. The company is based in Minneapolis, Minnesota with satellite offices in North Dakota, Florida, Illinois, Pennsylvania and Ohio.
Proposed Adaptive Reuse
Tapestry Runnemede is the proposed adaptive reuse of an existing closed hotel to senior housing and adult day care. The original hotel configuration was 176 hotel rooms. The new proposed configuration consists of 120 units comprised of studios, one and two bedroom units. Two baths are included in both the one-bedroom and two- bedroom plans. Many of the existing rooms will be combined to create one and two bedrooms. Bathrooms will be renovated with new walk-in showers. Granite vanities will be the standard. All units will be renovated to include new full kitchens, appliances and simulated wood floors. The first floor contains a full kitchen and generous common spaces. All first floor areas will be renovated to accommodate independent senior living and adult day care. A use variance was to senior housing by the Borough and of Runnemede on September 12, 2018. The property is classified as a Residential Health Care Facility based on New Jersey regulations. The property will operate as an independent living facility with services.
Restaurant Style Dining
Scheduled Activities Daily
Home Health Care Services as Needed
Demand for Independent SENIOR HOUSING
Tapestry has retained Plante Moran, a nationally recognized expert in senior housing to conduct a feasibility study and CPA financial forecast for the proposed conversion. Tapestry has worked with Plante Moran on numerous similar adaptive reuse projects in Pittsburgh, Cleveland and Chicago. Plante Moran concluded there is significant demand for the independent living facility, assisted living and memory care.
Because of the strong demand for additional services, Tapestry will construct an addition connected to the renovated facility for 64-assisted living and memory care units. The property will be licensed by the New Jersey Department of Health. The facility will also offer other services as a licensed Comprehensive Outpatient Rehabilitation Facility (CORF) that include outpatient diagnostic, therapeutic, and restorative services. CORF care is commonly known as outpatient rehabilitation care. CORFs must provide medical care, therapy, and certain social or psychological services.