SHORT PUMP, Va. –The big-money trend of assisted living facilities is spreading out toward Short Pump.
Manorhouse Assisted Living plans to build a $20 million facility at 13500 N. Gayton Road called Manorhouse North Gayton. The 10-acre campus will be the first the company has managed in Richmond for more than a decade.
Founded in 1994, Manorhouse has owned several facilities in Richmond and the mid-Atlantic region, building 18 properties in an eight-year period. When the venture capitalists that had invested in the company decided to sell in 2002, CEO Ken Newell struck out on his own.
“We’re ready to grow again, and this time we want to maintain the controlling interest in the company so we can grow at our own pace and manage it in a fashion that we feel is appropriate,” Newell said.
Manorhouse now operates two assisted living facilities, both located in Tennessee, and its headquarters remains in Richmond.
“We’ve been looking for acquisition or development opportunities here for a good while, but we had the ability to be picky,” Manorhouse COO Jim Bonnell said. “We wanted to make sure that we chose the very best that we could.”
Construction on Manorhouse’s third facility should start this summer. The company purchased the 10 acres in August for $1.6 million, according to Henrico County records.
