A new senior living neighborhood is in the works for the northeast corner of US 1 and S.E. Cary Parkway, opening this fall and bringing over 100 new jobs to Cary.

Waltonwood Cary Parkway will cost $40 million and be 242,000 square feet of rental cottages and apartments for independent and assisted-living seniors, including those with dementia.

Singh Development Co., a 30-year-old development firm out of Michigan, is overseeing the project. It’s their first in North Carolina.

“This project is a milestone for Singh,” said Gurmale S. Grewal, Singh’s CEO. “Despite hard economic times, Singh remains optimistic and looks forward to continuing our growth and investment in North Carolina.”

Singh credits the expansion to the growing populations of seniors, and plans to build more Waltonwood neighborhoods in North Carolina and along the Atlantic coast over the next ten years.

Waltonwood Cary Parkway is set to open in the fall. It will have 174 rental units and include services like courtesy transportation, physical, occupational and speech therapy, an on-site clinic and Montessori-based programming in memory care.

The arthitectural style is advertised as reflecting a historical Georgian or Jeffersonian-style, “reminiscent of the eighteenth century buildings in colonial Virginia” according to the company’s Web site.

For more information, visit waltonwood.com or singhweb.com.