Officials break ground on Cedar Falls senior housing complex - KWWL - Eastern Iowa Breaking News, Weather, Closings

Officials break ground on Cedar Falls senior housing complex

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CEDAR FALLS (KWWL) -

A new multi-million dollar senior housing complex broke ground in Cedar Falls Thursday.

The Village Cooperative is being built in Pinnacle Prairie.  The 55-plus housing development will include 50 senior apartments. More than half of the houses already been sold.

Developers say the project will help meet growing demand for senior housing in a unique way.

"Instead of people owning their own little condominium square, they collectively own the entire building, the land, and all the grounds around it. And there's a lot of additional amenities with the cooperative," said Andrew Schaefer of Real Estate Equities Development. "It's just a really neat community with great opportunities for people to form friendships and have activities and different things to do."

Construction on the new housing complex is expected to last about a year.

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