Greeley Bonell Community to change hands, new owner recognizes its history

GREELEY — The likely new owners of the Good Samaritan Society’s Bonell Community in Greeley say they understand the historical significance of the 85-year-old senior living complex and want to take that into account when they redevelop the site.

Jacob Durling, president and CEO of Warm Springs Realty Holdings LLC, the likely buyer of the Bonell campus, said his company “plans to integrate that history into reimagining the campus as a whole.”

The Bonell Community senior living complex at 706 23rd St. in Greeley is about to change hands, although a transaction has yet to be recorded with the Weld County Clerk and Recorder’s Office, and Durling said the deal has yet to close.

In existence for the past 85 years, the Bonell complex has offered senior apartments, assisted living, skilled nursing care and other services for older residents of the community. About 160 of those residents received a notice Jan. 4 giving them 60 days to vacate the facility.

Randy Fitzgerald, executive director of the Good Samaritan Society, said in a written statement that staffing issues and changes in the elder care industry were forcing Good Samaritan to make changes.

“The pandemic has put unprecedented stress on the senior care industry, which has forced us to make difficult decisions about how and where we can provide services,” he said in the statement. “Unfortunately persistent staffing challenges and a decline in the number of residents at our Bonell location in Greeley have led to a situation that is not sustainable.”

He said in a later statement that the facility will close March 5 and that Good Samaritan is trying to help staff and residents find new jobs and homes at other Good Samaritan facilities in the area. 

Fitzgerald said the Good Samaritan Society “found a partner that is dedicated to serving the community of Greeley as we have for so many years.” 

City sources said the company, Warm Springs Realty Holdings, with offices in Boulder, is working on plans for the campus, which will include workforce housing. Some Bonell structures may be demolished and others rehabilitated, the city source said.

Durling told BizWest that “we are in the process of performing due diligence on the Bonell campus. The transaction is scheduled to close in early April 2022. The details of the sale are confidential as the sale is still in process,” he said in an email.

“Warm Springs Realty Holdings looks forward to working closely with the city of Greeley and the surrounding community when transitioning the Bonell campus into a property that serves Greeley residents of all ages. We recognize that too many municipalities today are struggling to provide high-quality  housing options that address their communities’ needs. Warm Spring Realty Holdings specializes in creating and operating high-quality housing options tailored to the needs of the communities in which we invest.”

Durling and Warm Springs have had other multi-family real estate activity in Greeley. According to the March 2021 Multi-Family Capital Markets Report compiled by Greeley city staff, Warm Springs bought the 98-unit Bears Village Apartments at 509 18th St. for $12.9 million in April 2020, and Durling bought the Brix apartments at 1001 13th Ave. for $4.85 million in August 2020. 

The city report ranked Warm Springs as second most active by sales volume in the year prior to the report, and Durling as fourth most active. Combined, they would have been first.

GREELEY — The likely new owners of the Good Samaritan Society’s Bonell Community in Greeley say they understand the historical significance of the 85-year-old senior living complex and want to take that into account when they redevelop the site.

Jacob Durling, president and CEO of Warm Springs Realty Holdings LLC, the likely buyer of the Bonell campus, said his company “plans to integrate that history into reimagining the campus as a whole.”

The Bonell Community senior living complex at 706 23rd St. in Greeley is about to change hands, although a transaction has yet to be recorded with the Weld County Clerk and Recorder’s Office, and Durling said the deal has yet to close.

In existence for the past 85 years, the Bonell complex has offered senior apartments, assisted living, skilled nursing care and other services for older residents of the community. About 160 of those residents received a notice Jan. 4 giving them 60 days to vacate the facility.

Randy Fitzgerald, executive director of the Good Samaritan Society, said in a written statement that staffing issues and changes in the elder care industry were forcing Good Samaritan to make changes.

“The pandemic has put unprecedented stress on the senior care industry, which has forced us to make difficult decisions about how and where we can provide services,” he said in the statement. “Unfortunately persistent staffing challenges and a decline in the number of residents at our Bonell location in Greeley have led to a situation that is not sustainable.”

He said in a later statement…