Music Industry Takes Care of Its Own

The Nashville Business Journal recently posted the following article about a senior living community owned by the music industry.  It is meant for eligible employees of the industry who need a place to retire, and who may need some assistance in day-to-day living.  I'm hoping they will take good care of their residents by building senior-friendly housing; and by hiring good senior-care professionals, since health-care isn't generally the music industry's "forte".

Music industry groups team up for $95M senior living project in Franklin

The music industry officially announced its $95 million senior living center project, The Crescendo at Westhaven, to the community on Tuesday morning.

The Crescendo will be the first senior living community owned by the music industry, but be open to all adults age 62 and older. The project has been an 18-year dream of the music industry, which wanted a way to take care of its own in their retirement years.

The center will sit on 15 acres in Westhaven's town center in Franklin.

It will offer 180 independent living residences, a full skilled nursing facility and assisted living. The community will also be the first of its kind to include a recording studio and performance venues. The Crescendo will need to presell 70 percent of its independent residences to obtain financing.

The project is expected to break ground in 2011.

The Crescendo Music Community Fund will provide assistance for qualified music industry retirees. The fund was previously known as the Retirement of Professional Entertainers, a non-profit organization with a volunteer board of music industry leaders. CMC will also own the facility and oversee its management. Seed funding came from the Country Music Association, the Academy of Country Music, the Opry Trust Fund and the Reunion of Professional Entertainers.

"There are people who might work for an artist for 20 or 25 years, and when the artist retires, they may be without a job. A lot of these people, through no fault of their own, have not been able to plan for their futures. Some of the folks who work tirelessly behind the scenes might need our support, and that's what we want to provide," says country music star and CMC Fund board member Martina McBride.

Nashville-based senior living developer Blakeford Development Services will build and manage the senior community.

"We feel the association with the music industry will significantly enhance and add additional excitement to the development's success," says Larry Larkin, chairman of Blakeford's board of directors.

Preliminary plans call for spacious areas and courtyards with high-end restaurant style dining to a cafe and patio dining. Plans also include a music library and activities related to the music industry.

Charlotte-based Spectrum Marketing has been tapped to do marketing and research and will open an on-site sales office this fall. Atlanta-based THW Design will do the architecture and design.

"This spectacular facility creates the opportunity for those in the music industry to continue to share and enjoy the camaraderie and relationships that shaped their professional life. And, the Fund will be there to assist those who may not be fully qualified from a financial perspective," says Steve Buchanan, president of the CMC Fund Board of Directors.