New Luxury Senior Living Community Breaks Ground In Manhattan Real Estate

Inspῑr | Manhattan Is the First Project of This Scale to Rise on the Upper East Side in More Than Two Decades

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Jun 14, 2017, 11:30 ET

NEW YORK, June 14, 2017 /PRNewswire/ -- Maplewood Senior Living and Omega Healthcare Investors, Inc. (NYSE: OHI), celebrated the groundbreaking of their highly anticipated, premier luxury senior living development, Inspīr | Manhattan, located at 1802 Second Avenue. The announcement was made by Gregory D. Smith, President and Chief Executive Officer of Maplewood Senior Living.

The building is set to rise in one of NYC's most affluent neighborhoods, the Upper East Side, where Second Avenue meets 93^rd Street. The senior living community will be a 23-story, 212,000-square-foot mid-rise featuring 215 units of assisted living, enhanced care and memory care. It will be one of the first ground-up projects of this scale in the city in more than two decades.

The New York property also marks the launch of the Inspīr brand. This international brand was developed to offer a luxurious option for seniors looking to join a senior residence. Given the city's rich history as a global leader in real estate, New York is a perfect fit for the upscale brand to make its debut.

The modern community will offer diverse and bountiful features and amenities, including beautiful gardens, an indoor heated swimming pool, a luxury salon and spa, a state-of-the art entertainment movie theatre, a library, and luxurious common areas for engagement and socialization opportunities. There will be a variety of high-end dining venues, all of which will include farm-to-table dining for discerning seniors.

"New York City offers a rich environment for seniors who wish to continue an active lifestyle with connections to family, social networks and the many culturally diverse opportunities the city has to offer including theatre, opera and museums," said Gregory D. Smith. "We are designing a truly unique community that not only offers access to the city, but to incredible private spaces with beautiful finishes and well-appointed apartments, all set in an oasis of boutique-style luxury."

Taylor Pickett, CEO and President of Omega Healthcare Investors, Inc. (NYSE:OHI) added, "We are very excited about what the Maplewood team is bringing to Manhattan. Inspīr | Manhattan represents our 14^th investment with Maplewood and our first in New York City. Greg Smith and his entire team have built their business on combining the highest level of quality care and service amenities with innovative and contemporary design. The Inspīr project reflects all of the best elements of what Maplewood does exceptionally well combined with a design and sophistication level that we are confident the Manhattan market will value and embrace."

Maplewood Senior Living selected Handel Architects of New York to design the residence. Its sophisticated design will be centered on the use of natural light, as well as access to nature. The abundant use of light and nature is meant to infuse positivity and invigorate the spirit. Some of these features will include floor-to-ceiling windows, a 16^th floor sky park, terraces and enclosed gardens.

"We are thrilled to partner with Maplewood Senior Living to design this modern residential space where seniors can enjoy healthy and active lives," said Frank Fusaro, Partner, Handel Architects. "Our vision is of a building that has a simple elegance in its order, a building that's derived from how it is made and what is essential, with spaces that foster community and promote health and wellness through an abundance of natural light and nature."

T.G. Nickel & Associates of New York is serving as the construction manager for the development. The total project cost will be $270 million, including land costs. Inspīr | Manhattan is slated to open in 2019.

Please visit www.inspirmanhattan.com for more information.

About Maplewood Senior Living
Based in Westport, Connecticut, Maplewood Senior Living is known for its upscale senior living residences offering a broad range of premier services and amenities, including independent living, assisted living, memory care and skilled nursing and rehabilitation. With communities in Connecticut, Massachusetts, Ohio and New York, Maplewood Senior Living is committed to providing its signature standard of excellence to residents. For more information, visit MaplewoodSeniorLiving.com.

About Omega Healthcare Investors, Inc.
Omega is a real estate investment trust investing in and providing financing to the long-term care industry. As of December 31, 2016, Omega has a portfolio of investments that includes approximately 1,000 properties located in 42 states and the United Kingdom and operated by 79 different operators.

About Handel Architects
Handel Architects is an award winning architecture, interior design, and planning firm that began in New York City in 1994. With more than 150 architects, interior designers, planners, and support staff, the firm is working on projects globally from offices in New York City, San Francisco, and Hong Kong. Internationally recognized projects include the Dream Downtown Hotel, the National September 11 Memorial, 170 Amsterdam Avenue and The Enclave at the Cathedral of St John the Divine in New York City; The Pacific in San Francisco and The Ritz-Carlton Hotel in Washington, DC's Georgetown neighborhood. Handel Architects is dedicated to using architecture to enhance the quality of city life by focusing on design principles that weave buildings into their context and create a forward-looking and positive environment.

SOURCE Maplewood Senior Living