MUNCIE — City officials say a Chicago developer plans to build a $22 million senior retirement facility on Muncie's west side.
Vermilion Development plans to build its facility at and around 2520 W. Kilgore Ave., on land that's currently occupied by a former bowling alley.
The company, which in late 2015 announced plans for an assisted living facility in Kokomo, would consist of 119 units, creating 35 jobs with an average annual pay of $40,000, Todd Donati, the city's economic development officer, told The Star Press.
In a Wednesday meeting, the city Board of Works and Public Safety approved Donati's request for a contract with Indianapolis law firm Barnes & Thornburg, which will represent the city's interest in issuing an economic development revenue bond to finance the $22 million facility.
Donati told the works board that the city has pledged no money to the bond issue, all of which will be paid by Vermilion, he said.
The development would take the place not only of the former bowling alley but a nearby tattoo studio, Donati said.
Darrin Jolas, director of leasing and development for Vermilion, told The Star Press on Wednesday that his company hopes to acquire needed properties for the project by the end of the year, with construction to take around 13 months. The facility could open by the end of 2017, he said.