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St. Barnabas to add rentals

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By Sam Spatter
Friday, Feb. 5, 2010
 

A failed new-housing development in Richland Township, White Tail Ridge, has been purchased by St. Barnabas Land Trust Inc., which will develop the site as a 71-unit rental community.

"We currently own four housing units there, have the right to build 39 more and are negotiating with Nextier Bank on two others before negotiating with the 30 condominium owners to buy their units," said William Day, president of St. Barnabas Health System.

St. Barnabas acquired the property on Jan. 27 from S&T Bank, which had foreclosed on the development being built by Cleveland-Richland L.P. The price was $2.7 million, according to a deed filing.

Day said he expects the property will cost about $10 million to develop.

It will consist of duplexes, triplexes and quads, most of them one-level. Some of the housing on the site has second-floor lofts and full basements.

The site attracted Day because of its proximity to St. Barnabas Woodlands, a 135-unit carriage home community in Valencia, Butler County.

Eventually, the property will be renamed the Woodlands at St. Barnabas, Day said.

A second parcel, a 10-acre site called the Cook property, which abuts the White Tail Ridge site, was purchased from Charles Cook for $385,000, Day said. At this time, there are no plans to develop the land, he said.

White Tail Ridge will become part of the St. Barnabas communities. They consist of The Village at St. Barnabas, consisting of 252 condominium-style apartments in Gibsonia; The Woodlands; and The Washington Place, a 23-unit apartment complex that includes concierge services.

Other St. Barnabas facilities include St. Barnabas Medical Center, an outpatient medical center; St. Barnabas Nursing Home and Valencia Woods at St. Barnabas, both skilled-care nursing homes; and The Arbors at St. Barnabas, assisted-living locations in Valencia and Gibsonia.

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