Work will begin by the end of this year on a senior living community in Osceola County whose builders say will "break the mold" for luxurious living.
The project, by real estate investment management firm Big Rock Partners, took a big step forward by announcing Balfour Beatty Construction as its construction manager. A next step will be Balfour Beatty bringing in subcontractors for the $60 million, 225-room facility.
The architect is Gensler of San Francisco. The civil engineer is Tannath Design of Orlando. The structural engineer is Allen and Conrad of Winter Park and the mechanical engineer is OCI Associates of Maitland.
The planned senior community, which is in Celebration, southwest of Orlando, does not yet have a name. The project is expected to be complete in mid 2017.
Sabra Health Care REIT is providing Black Rock with $4.5 million in initial financing for the land and anticipates providing additional backing for construction.
By building a facility that is billed as having a resort feel akin to The Breakers, the project will require fine furnishings while also providing a setting that is conducive to senior care, a challenge for builders. The new facility, which will be run on a rental basis, will have independent living, assisted living and memory care services.
The project's scope also demonstrates the lengths that builders are having to go to in order to compete with the plethora of senior communities that are popping up.
The facility will have a four-to-six story floor plan, an indoor pool, movie screening room, fitness center and top-floor solarium for viewing Disney World fireworks displays.
Balfour Beatty was chosen as construction manager for its deep roots in Central Florida and "specialized hospitality experience, including over 30,000 hotel rooms in the Central Florida market, with clients such as Disney, Marriott International, Universal and Loews," said Big Rock Partners' senior managing principal Richard Ackerman. "This portfolio makes them an ideal addition to the...design, construction and operational team we've assembled."
Celebration was developed by the Walt Disney Company in the mid 1990s and has a reputation as a successful example of "New Urbanism," with diverse housing types for residents of all ages.