A new 110-unit retirement center is planned for seven acres on the campus of Cornerstone Church in Madison, a roughly $15 million project that church leaders see meeting needs of its community.
The church plans to transfer ownership of the project’s site on the northeast side of its 40-acre campus at 726 W. Old Hickory Blvd. to an entity to be called Antioch Cornerstone Madison TN LLC, said Pastor Dana Lawson, vice president and chief financial officer for Cornerstone.
Construction should start by next month with completion expected sometime in late 2015, he said. Two-thirds of the 110 units will be for independent and assisted-living residents with the remaining third for memory care patients, including seniors with Alzheimer’s and dementia.
“It’s to offer a benefit to our community to receive a Christian-based retirement experience,” Lawson said, adding that part of the motivation for the retirement center is for aging church members to become residents so they can live close by and continue to receive ministry.
Antioch Cornerstone Madison TN LLC will be owned 87 percent by Antioch Plan Developers LLC, 10 percent by Cornerstone Church of Nashville Inc. and 3 percent by Kenneth Bruce Armour of Grand Rapids, Mich., according to plans being finalized among those partners.
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SOURCE: The Tennessean