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MDA closes deal on $2.3 Million Sale for Independent Living Facility

New Independent Living Facility will include the former Post Headquarters building, four former multi-story barracks, and the large parade grounds area totaling just over ten acres. On December 20th, MDA officials executed the necessary closing documents and finalized the $2.3M sale of the Historic Buckner Headquarters complex, clearing the way for the development of a new Senior Independent Living Facility on McClellan. This closing signifies the end of over seven years of discussions, negotiations, and coordination with multiple brokers, developers, underwriters, and attorneys to bring this project to a successful conclusion. The signing of these documents signals the next phase of this Project which is the investment of approximately $23 Million for the modification and renovation of these historic buildings. Plans for this new facility call for the renovation and construction of 120 independent living apartments. These apartments will consist of 81 one-bedroom/one bathroom units and 39 two-bedroom/two bathroom units all complete with full kitchens, utilities, and access to common areas. The facility will also include a clubhouse, business center, fitness center, restaurant, coffee shop, and chapel. Additional services and amenities will include daily lunch, bi-weekly housecleaning and laundering of flat linens, regularly scheduled local transportation, parking spaces, 24-hour emergency call system and staffing, social activities and recreational programs, and priority access to Assisted Living and Memory Support units on McClellan.

The development of this Project is headed up by McClellan Independent Living Facilities, LP, an Alabama Limited Partnership. Over the past several months underwriters and bond attorneys have been finalizing the paperwork for the sale of bonds in January to fund the Project. Once bond sales are complete, construction and renovation of the facilities will begin with a targeted operations start date sometime in 2019.


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