Oppidan Redevelops Former Plymouth Shopping Center
Oppidan Investment Company announced Wednesday that it will build an assisted living facility at the site of an old shopping center in Plymouth.
The eight-acre site at the southwest corner of County Road 73 and Highway 55 will also have a McDonald's, and up to four acres of space for future business development.
The building that's on the site now-the long-vacated Plymouth Shopping Center-was built in 1955 and is considered uninhabitable.
Oppidan said the redevelopment project is scheduled to start this fall and is slated for completion in 2012.
The 90 senior housing units will be operated by Shelter Corporation, a Minnetonka-based real estate development company, and will be part of its Waters Senior Living affiliate.
According to Oppidan, the company is in discussions with several other businesses that are considering locating near the development and building on the site's remaining four acres.
“This is an exciting development for the community of Plymouth, providing senior housing for which there is an immediate demand in an area that is well-served by highways and public transportation, and is close to retail and restaurants,” Shannon Rusk, developer for Oppidan Investment Company, said in a statement. “We welcome this opportunity to work with the Waters, as they have a reputation as one of the best operators of senior housing in the nation.”
Headquartered in Minnetonka and founded in 1991, Oppidan Investment Company specializes in retail properties and has more than $1 billion of developed property under its belt. The firm has completed developments for big-name clients, including Cub Foods, Gander Mountain, Camping World, Target, and Best Buy.