After more than two years of work on the project, Gracewin Living Cooperatives has made the difficult decision to suspend development of its senior housing cooperative planned for construction along Vanrooy Drive near Highway 32 South in Thief River Falls.
The decision to no longer pursue construction was not made lightly, according to Nile Inc. and Gracewin Development President Nathan Anderson. “The ability to bring the cooperative concept to under-served areas of the state, for the benefit of the senior population, is the type of servant leadership we focus on with Gracewin Development,” said Anderson. “As a former resident and LHS graduate, having the opportunity to do this in my hometown was incredibly special. Unfortunately, there were challenges which left us with no other choice when faced with the financial burdens that could impose upon residents.”
There were several factors contributing to the decision, including the current costs of construction materials and supply chain issues. But, ultimately, it boiled down to challenges in constructing the building on the available land in a way that would allow pricing to remain cost-effective for future shareholders.
Gracewin Living had planned to build a 36-unit multi-family, age-restricted building along Vanrooy Drive and south of Altra Care. It owns two parcels of land, one of which is zoned for multi-family construction and another which is zoned for general commercial use. The company tried to remove a deed restriction on the commercially-zoned property but was unsuccessful. With the suspension of its project, Gracewin Living has offered to sell the commercial lot back to its former owners, Dr. Steve and Donna Keogh, who expressed their enthusiasm for commercial development and their regret for previously selling the parcel during an Oct. 4 public hearing. At that time, Gracewin Living had requested tax increment financing from the City of Thief River Falls, but its request was tabled until it could be determined whether the deed restriction could be lifted. Anderson hopes the desire for commercial development is one that will come to fruition for community members.
The Gracewin Living team expressed its gratitude for the patience and commitment of area seniors and community members who supported the project. “Hands down the most difficult part of this process has been the knowledge that this will be a disappointment to those who had begun the steps to make Gracewin their community. We consider ourselves privileged to have worked with each one of them, and share their disappointment with our whole hearts,” said Lisa Anteau, head of sales and marketing for Gracewin Living.
The Gracewin team continues to focus on the opening of its Baxter cooperative, scheduled for April 2023 and will soon launch another location in Bismarck, N.D.