Welltower, Hines Unveil Plans for 15-Story Assisted Living Community in Midtown Manhattan

by Jeff Shaw

NEW YORK CITY — Welltower Inc. (NYSE: HCN), the largest healthcare real estate investment trust (REIT) in the United States by market cap, and Hines, an international real estate firm, have announced plans for a 15-story assisted living and memory care community at the corner of 56th Street and Lexington Avenue in Midtown Manhattan.

SLCE Architects designed the building, which will feature first-floor retail space in addition to the seniors housing on the floors above.

The primary community spaces will be located on the second floor, with residential units on the third through 14th floors. Amenities interspersed throughout the buildings will create smaller neighborhoods on each floor. There will also be outdoor living spaces on the fourth, 11th and 15th floors with landscaped terraces and gardens.

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