The Kenney puts planned redevelopment on hold citing economic reasons
The Kenney, West Seattle's only continuing care retirement community is postponing plans for redeveloping their campus. The plan, which has been in place for the the last three years has been put on hold primarily due to economic reasons.
The Kenney has removed the four Notice of Proposed Land Use Action signs that line the perimeter of their campus. "We knew people would have questions," said Kevin McFeely President and CEO of The Kenney so it was appropriate to contact the media to let people know.
“There are a couple of issues,” said McFeely, “For one, there’s a new economic reality we’re facing that people are having a much harder time selling their home; something that’s concurrent with moving into a retirement community. Second, it’s much tougher to find lenders for new building projects. As we looked at this project we realized the need to scale down the redevelopment plan to continue to reach the needs of our current residents, our future residents and our neighbors.”