Closing will lay off 50 employees.

According to the Philadelphia Business Journal, Chelsea Senior Living on York Road in Jenkintown will close by June 30. The building has 62 units.

According to the article:

The Fanwood, N.J. company owns and operates 16 senior living properties between New York and New Jersey. “We thought it would be a jumping point to expand into Pennsylvania,” said Roger Bernier, president and COO of Chelsea. 

The company invested $500,000 in renovations and made other improvements but the occupancy hovered around 80 percent, prompting Chelsea to make a business decision to move on from it, Bernier said. “It’s a very saturated market,” he said.  

Chelsea says it will assist the resident with finding other facilities, and then it will put the building on the market.

Read more here.