Big Rock Partners Launches Construction Of $82 Million Resort-Style Senior Living Rental Community

Aug 22, 2016 No Comments by

Big Rock Partners’ team has begun construction of an $82 million resort-style senior living rental community in Celebration, with opening projected for early spring 2018.

Bringing Central Florida a first-of-its kind approach to luxury and hospitality in a senior living rental community, the development will be Celebration’s first to offer independent living, assisted living and memory care services, with a total of 239 rental residences and an array of first class amenities. Balfour Beatty is construction manager.

 

“We’re taking a ‘five-star’ approach in every facet of design and lifestyle, breaking the mold to satisfy today’s more active seniors and the generation to come.  Based on the enthusiasm Celebration residents have shown to date, we expect this to be a tremendous win-win for Celebration and our company,” said Big Rock Partners’ Senior Managing Principal Richard Ackerman.

The new development gives residents a flexible alternative to the upfront buy-in requirement typical of traditional Continuing Care Communities, Ackerman said. Pre-leasing will begin several months in advance of opening.

Evoking famed Florida resort environments such as The Breakers and The Biltmore, the building’s Classic architecture will fit its Celebration context while making a design statement that’s gracious, livable and active.  Among appealing focal points will be an indoor pool, movie screening room, fitness center and top-floor solarium for viewing the nearby Disney World fireworks displays.

The nine-acre site, visible from I-4, is the only parcel within Celebration planned for senior housing development.  With a landmark design presence, yet residential in scale, the four-to-six story complex will feature advanced operating systems and green building principles to ensure efficiency and sustainability.

National real estate investment management and development firm Big Rock Partners has assembled a best-in-class design, construction and operational team, including Balfour Beatty Construction, which has hospitality experience that includes over 30,000 hotel rooms in the Central Florida market with clients such as Disney, Marriott International, and Peabody Hotel Group. The project’s architect, global firm Gensler, is at the forefront of hospitality and healthcare design worldwide. America’s third largest senior living management company, Life Care Services™, an LCS® company, will operate and market the community.

The community of Celebration just southwest of Orlando is a prime location for this emerging type of upscale senior living community, Ackerman said.  Developed by The Walt Disney Company, Celebration has, since its founding in the mid-1990s, gained worldwide recognition as a highly successful example of New Urbanism principles.  New $50 million and up rental senior living developments with choice locations and resort-style amenities are rare in Florida, but are increasingly popular with consumers and institutional investors, Ackerman said.  Big Rock Partners has additional senior living rental communities under development throughout the Southeast, including an independent, assisted and memory care community in Port Royal, South Carolina near Hilton Head Island. The firm is also constructing the upscale Atria at Villages of Windsor senior living rental community in Palm Beach County, Fla. and is actively pursuing other “Class A” sites.

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