Clayton on the Park to close, developer lays off workers - Business First of Columbus:

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Craig Saur, CEO of said his firm has had layoffs in recen weeks due to the down Conrad Properties laid off 10 employees this month and now has nine Saur said. “Everything is on hold as capital is hard to come Saur said ofhis firm’s development pipeline. Sunrise Senior Living, a Va.-based senior living community operator, said Clayton on the Park will suspend operations indefinitelystarting Aug. 17. Sunrise Senior Living and Conrad Properties to transforjmthe 23-story Clayton on the Park hotel and long-term-stah residence high-rise into luxury apartments for seniorw last year. The senior living community also replaced an upscale casual restaurantand nightclub.
"Sunrise carefully made the decisiob to suspend operations indefinitely at Clayton on the Park after reviewinf its current operating performance and the costzs to maintain service atthe community," the companyy said in a statement. "We intend to help every residenrt transition to an alternativehome ... At this time, we are not able to speculate on the future of the buildingfor when, or if, operations will resume at the Sunrise said it plans to continue operating its 400 othe r communities nationwide, including three otherss in the St. Louis. St.
Louis-based Conrad Propertied is a real estate development firm responsible for some of thelargestg upscale, high-rise residential properties in St. Louis in recent including the and Maryland Walk ReporterLisa R. Brown contributer to this story.