A Winter Park developer that announced plans in May to convert an office park in Seminole County into an assisted living facility has broadened their concept to now include memory care, and new construction.
Estapona Senior Living LLC paid $2.7 million in May for an office park at 7255 Estapona Circle, in Fern Park. The property's six two-story buildings formerly housed the Liberty Technical Institute.
At the time, managing partner Trey Vick said he planned to renovate and connect the buildings in the 3.93-acre office park to create one facility with 80 assisted living/memory care beds.
But in July, the company bought an adjacent 2 acres for $506,000. Vick told GrowthSpotter this week the company will construct a separate memory care facility with 44 beds on the additional land. The new and renovated complex will total more than 91,000 square feet, with 43,000 square feet of that in new construction.
The developer has construction plans currently under review, and aims to start site work early next year.
"Before, we had memory care integrated into those adjacent buildings," Vick said. "Buying the extra parcel allows us to make it larger; more of a state-of-the-art, single-story facility with a memory garden in the middle and a neighborhood setting."
The combined assisted living/memory care facility will be called "Strive at Fern Park," and designed to encourage family activities with residents. The family-friendly atmosphere will feature a dog park and secure outdoor courtyards and gardens. Vick said staff will be versed in the latest advances in memory care.
"We want our residents to strive for health and wellness, and for our employees to strive to give the residents good care," Vick said. "(Strive) is a word that has some life and energy to it. It embodies what we want to accomplish in our building."
Vick estimates total cost of the project at $22 million, with $13.5 of that for construction. The balance will cover soft costs, FF&E and site work.
Construction should start in late First Quarter 2018 with completion and opening estimated for Q1 2019. Vick said his operating company, Strive Senior Living, will start marketing units much earlier, using one of the converted buildings toward the front of the complex as a model center to show potential customers.
Premier Senior Consultants, founded by Vick's wife Carrie and Holly Jennings, will act as development and marketing consultants for Strive at Fern Park. Both women have a decade or more experience in the senior care industry. Strive Senior Living will handle operations with a third-party management company.
Vick said this is the first of several projects to be developed and operated by the Strive brand, with more to be announced this month.
"We think there is a lot of depth in that (senior care) market, not only serving Fern Park and Casselberry, but also Winter Park and Maitland," he said.