The Lodge at Ken Caryl, an unfinished senior living facility at 7731 Shaffer Parkway in Littleton, shown on Monday. (Photos by Justin Wingerter)
The owner of a never-completed nursing home in Littleton has filed for bankruptcy.
Ken Caryl Senior Living LLC filed for Chapter 7 protection on May 31. Chapter 7 usually leads to a selloff of company assets.
The LLC has only $24,000 in the bank and owes nearly $3.8 million to creditors. Almost all of that, $3.75 million, is owed to Petra, the general contractor for The Lodge at Ken Caryl.
Terry Claassen, a Glenwood Springs man who is the owner of Ken Caryl Senior Living LLC, said in an email that he cannot comment on the bankruptcy. Claassen is the manager of Rocky Mountain Senior Housing, which lists The Lodge among its properties.
Claassen’s LLC paid $2 million for the land in Littleton in 2015. Last December, it was seized by Northmarq, a national lender that provided the cash for the purchase in 2015, records show.
The Lodge at Ken Caryl remains incomplete five years after its groundbreaking.
The 130,000-square-foot building was to have 138 units, including 86 assisted living apartments, 36 memory-care studios and 16 independent residences, along with large decks overlooking Deer Creek Golf Course and the Front Range, according to Petra’s website.
According to the Broker List, an industry website for commercial real estate listings, construction on The Lodge at Ken Caryl began in August 2017 and stalled in late 2019 due to a since-settled dispute between its developer and its contractor. An estimated $9 million-$10 million is needed to finish building the $30 million senior living community, its Broker List page claims.
The property’s Facebook page is a ledger of its setbacks. In 2017, it posted photos of the groundbreaking and wrote, “Opening January 2019!” The next year, it said it was opening in March 2019. In August 2019, it wrote that it would open in the winter of 2020. When a Facebook user asked for a status update in 2020, the page’s owners said it would open in late 2021.
Court records show that Ken Caryl Senior Living LLC was sued several times in 2020 for allegedly not paying contractors. Some of those lawsuits were consolidated into one pending case in Jefferson County District Court. Another was settled in September for $17,500.
The Lodge at Ken Caryl, an unfinished senior living facility at 7731 Shaffer Parkway in Littleton, shown on Monday. (Photos by Justin Wingerter)
The owner of a never-completed nursing home in Littleton has filed for bankruptcy.
Ken Caryl Senior Living LLC filed for Chapter 7 protection on May 31. Chapter 7 usually leads to a selloff of company assets.
The LLC has only $24,000 in the bank and owes nearly $3.8 million to creditors. Almost all of that, $3.75 million, is owed to Petra, the general contractor for The Lodge at Ken Caryl.
Terry Claassen, a Glenwood Springs man who is the owner of Ken Caryl Senior Living LLC, said in an email that he cannot comment on the bankruptcy. Claassen is the manager of Rocky Mountain Senior Housing, which lists The Lodge among its properties.
Claassen’s LLC paid $2 million for the land in Littleton in 2015. Last December, it was seized by Northmarq, a national lender that provided the cash for the purchase in 2015, records show.
The Lodge at Ken Caryl remains incomplete five years after its groundbreaking.
The 130,000-square-foot building was to have 138 units, including 86 assisted living apartments, 36 memory-care studios and 16 independent residences, along with large decks overlooking Deer Creek Golf Course and the Front Range, according to Petra’s website.
According to the Broker List, an industry website for commercial real estate listings, construction on The Lodge at Ken Caryl began in August 2017 and stalled in late 2019 due to a since-settled dispute between its developer and its contractor. An estimated $9 million-$10 million is needed to finish building the $30 million senior living community, its Broker List page claims.
The property’s Facebook page is a ledger of its setbacks. In 2017, it posted photos of the groundbreaking and wrote, “Opening January 2019!” The next year, it said it was opening in March 2019. In August 2019, it wrote that it would open in the winter of 2020. When a Facebook user asked for a status update in 2020, the page’s owners said it would open in late 2021.
Court records show that Ken Caryl Senior Living LLC was sued several times in 2020 for allegedly not paying contractors. Some of those lawsuits were consolidated into one pending case in Jefferson County District Court. Another was settled in September for $17,500.
