Dear Cedar Falls Community,
I hope this letter finds you well. I am writing to share some important updates regarding our project known as The Terraces at West Glen, located at 12th and Union.
After careful consideration and much deliberation, we have decided to sell the property. This decision was not made lightly and has been influenced by several significant challenges we have faced.
Firstly, financial difficulties stemming from supply chain management issues have greatly impacted our ability to progress with the project. The rising construction costs have added to these challenges, making it increasingly difficult to maintain the feasibility of the development. Moreover, the lasting effects of the Covid-19 pandemic have had a profound impact on building and real estate sales, further complicating the senior living model we initially envisioned for The Terraces at West Glen.
Given these hurdles, we have determined that selling the property is the most prudent course of action. We have engaged Amy Weinands Real Estate to market the property to the community at large. Both the individual buildings and the land will be available for sale.
Our primary focus now shifts to our Main Campus. We are committed to reinvesting in our beautiful campus to enhance its offerings and ensure that we continue to excel in providing the highest quality of care and services.
At this time, we do not have specific details regarding pricing, but we anticipate the project will go live within the next 45 days. We understand that this news may insight questions or concerns, and we encourage you to reach out for more information. Please direct any inquiries to Marcy McNeal, CEO, at mmcneal@newaldaya.org.
We appreciate your understanding and support as we navigate this transition. Our commitment to our staff and residents remains unwavering, and we look forward to a bright future at New Aldaya Lifescapes.
Sincerely,
Marcy McNeal
New Aldaya Lifescapes
