Dayton Business Journal - April 9, 2015

New senior living development planned for Troy

A senior living operator is planning a new development in Troy.

StoryPoint, a Michigan based company, is working on getting approval for a 14-acre, 185,000-square-foot senior living development behind the Walmart in Troy, said Christina Pahl, a spokeswoman for the company.

“We’re definitely excited to be part of Troy, and expand our portfolio in Ohio,” Pahl said.

The concept has been approved by the Troy planning commission, and is scheduled to go before a public city council meeting on May 4.

The community, which will be called Story Point of Troy, will have 158 units, 92 of which will be independent living, and the rest licensed assisted living and memory care. The project should break ground this summer and open in winter 2016, pending approvals. StoryPoint also owns two other Ohio developments, known as Independence Village communities, in Aurora and Avon Lake.

Alex Kolodesh, a developer with Singer Properties, is under contract to sell the land to StoryPoint, and has been representing the project in planning commission meetings. Kolodesh still owns another 14-acres of outparcels in the area, and he said he wanted to put a residential development behind the superstore to complement additional development along Troy’s West Main Street.

“With the proximity to Upper Valley Medical Center, our goal will be to put professional office space on those outparcels,” Kolodesh said.

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