The California-based investor Big Rock Partners has secured a $68.2 million construction loan for its new senior rental community in Lake Worth. The Atria at Villages of Windsor will feature 186 independent living, 78 assisted living and 54 one and two-bedroom memory care residences. Located at 9290 Hypoluxo Road, the facility include a main building with four wings, a central lobby and an amenity core while the memory care component will be placed in a separate building. Wells Fargo provided the mortgage for the project which is slated for a summer 2017 completion.
“In South Florida and across the nation, Boomers’ higher expectations and desire for flexibility are driving demand for a new generation of senior living rental alternatives to traditional ‘buy-in’ continuing care retirement communities,” said Richard Ackerman, senior managing principal at BRP.
