Calamar Opens Colonial Square to Record Breaking Occupancy

(Painted Post, NY, October 26, 2012) Calamar and local town officials celebrated with a ribbon cutting ceremony to commemorate the completion and grand opening of Colonial Square Senior Village. Calamar put out the welcome mat and opened the doors to residents in a new three-story, 107-unit independent living senior apartment community. Colonial Square is an affordable, independent living apartment complex with no income restrictions for those 55+ young. Located in the quaint town of Painted Post, Colonial Square represents an affordable senior housing option and opportunities providing independent living without inflated rent structures that are often associated with retirement communities.

Colonial Square Senior Village is an entirely smoke-free, pet friendly community
offering one and two bedroom apartments with rents ranging from $775 – $985 per
month that include heat, basic cable, water. All units are equipped with a
washer/dryer connection as well as common laundry facilities, personal patios,
central air conditioning, and all major kitchen appliances.

“The positive response to Colonial Square has been overwhelming”, said Sam
Reeder, Assistant Director of Senior Services for Calamar. “The rapid rent up of this
property has been astounding and speaks volumes to the need in this area. We
were 80% pre-leased at our opening and welcomed 52 new residents that moved in
on September 1st. We have very few apartments remaining and anticipate the
building being stabilized before the end of November.”

Colonial Square Senior Village will definitely fill the void in the senior apartment
industry by providing a much needed alternative to the expensive, amenity driven
options that are available.

“Colonial Square was made possible through the cooperation of various town
municipalities who all recognized the tremendous need for this project and moved
forward to provide quality, affordable senior housing to their residents,” said
Calamar Chairman & C.E.O. Kenneth M. Franasiak.

With Calamar’s implementation of the SELF (Seniors Empowered to Live Fully)
program, residents can choose and easily access a multitude of goods and services
on an “al a carte” basis creating much greater cost effectiveness. Calamar is
partnering with select agencies and vendors to provide services to our community as
well as reduced rates on a variety of products. This program was developed as an
added feature to empower our residents to select only the specific services they may
require, as they need them. This differs greatly from other senior communities that
consolidate all the services they offer within the residents rent plan, whether those
services are utilized or not.

Colonial Square represents a $10 million dollar investment and is the sixth senior
apartment community completed by Calamar in the last three years. Other
properties are located in Western New York and Omaha, Nebraska.
For more information on Colonial Square, contact Nancy Rivers at 607-654-7906.
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About Calamar
Calamar is a full-service real estate firm comprised of construction, development, property managementand finance & investment divisions for commercial and large-scale residential properties in the Northeast & Midwest regions. Calamar is headquartered in Wheatfield, NY and has offices in Omaha, NE, Woburn, MA and Niagara-on-the-Lake & Toronto, Ontario. For more information, contact Kathy Griffiths at 716.693.0006, ext. 211 or kgriffiths@calamar.com

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