Assisted living home to anchor new 25-acre mixed-use project across from Heart of Florida Hospital
By J. Kyle Foster
Oct 15, 2020 at 1:14 PM
A 120-unit assisted-living and memory-care facility is in the permitting process in Polk County on busy U.S. 27 across from AdventHealth Heart of Florida Hospital.
Prospera Senior Living plans to build its second ALF and prepare outparcels for future development. Prospera is a division of Jamas Capital Management, a private investment firm based in Jackson, Mississippi.
Playing off the name of the neighboring community of Carlisle Grand by Park Square Homes, the 89,000-square-foot facility is being called Carlisle Grand ALF. Park Square’s Carlisle Grand is a 158-single-family-home community on Holly Hill Fruit Road started in 2016.
“We envision medical-office related plus, being right there on Highway 27, there will be outparcel development for commercial retail for fast food and banking institutions,” Edwin Sallis, director of real estate for Jamas Capital, told GrowthSpotter. And at the back of the nearly 26-acre site, “could be office buildings, hotel or maybe independent living.”
Prospera’s current plans call for a 2-story building with 80 1-bedroom and studio-styled assisted-living residences and 40 units in the secure memory care area, Sallis said. The ALF would include a movie theater, chapel, hair salon, barber shop, bakery, coffee shop, sports bar, while the memory care area would have dedicated dining facilities, courtyard, and amenities.
“We work to remove institutional feel typically associated with senior housing,” Sallis said.
Prospera is considering a concept similar to The Eden Alternative, which is an international program designed to enhance the lives of their elderly charges by eliminating “loneliness, helplessness, and boredom” by “encouraging pets, plants, lots of interactions,” Sallis said. “It’s a fascinating program.”
The Polk County ALF would be Prospera’s second facility. It’s first was built in 2008 in Lake Placid, Florida and later sold, Sallis said. The company has plans to roll out similar facilities in 10 markets primarily in the Southeast, a plan it began in 2008 but put the brakes on with the housing market collapse.
Prospera bought the 25.6-acre property in 2014 under another subsidiary, Robbins Investment Company LLC. The company paid $1.55 million for the 4 parcels that make up the site, according to property records.
The site is attractive because of its location on U.S. 27 and proximity to AdventHealth Heart of Florida, Sallis said. About 8.2 acres will be needed for the ALF site – that includes allowances for a future expansion. There are 7 outparcels fronting on U.S. 27 ranging in size from 1 to 1.25 acres with a rear drive-aisle, and the back parcels are broken into 3 commercial lots from 1.7 to just under 3 acres. Those sites will be built out and sold, he said.
Prospera hired DK Levy of Knoxville, Tennessee as architect. Lakeland’s Quigg Engineering’s David Booher is the engineer of record. Sallis said Prospera is in talks with a national third-party operator but hasn’t signed that agreement yet.
“I would hope to be able to break ground next year,” with a 14-month construction window, Sallis said.