WholeLife Cos. Buys Land for Premier Active Adult Community in Cibolo Canyons
By Adrian Maties, Associate Editor
WholeLife Cos. is one step closer to starting construction on its planned $55 million active adult living community in Cibolo Canyons. On Dec. 17, the developer announced it completed the acquisition of a 32-acre parcel of land just across the street from the entrance to the J.W. Marriott Hill Country Resort and Spa and the two PGA Tournament Players Club golf courses. It will be the future home of The WholeLife Traditions community.
WholeLife paid $7.7 million for the land. The company acquired it from the Forestar Group Inc., an Austin-based real estate company and the developer of Cibolo Canyons, a unique 2,100-acre master-planned community located north of San Antonio. Norton Rose Fullbright and Labarthe law firms represented WholeLife in the transaction, while Transwestern’s Michael Griffin represented WholeLife as its realtor.
The WholeLife Traditions community will be a 154-unit luxury active adult-living community. Units will range between 1,500 and 2,000 square feet. It is designed by architect Ken Schaumburg of Ft. Worth. The landscaping, sidewalks, streetlights and the design of the homes will make WholeLife Traditions look and feel just like a traditional American neighborhood. The community includes an expansive and functional WholeLife Club, with event space, a state-of-the-art fitness center, a pool, a game room and community services.
The Bexar County Commission unanimously approved a $55 million tax-exempt bond to finance the construction of the project in mid-October. Pape Dawson Engineers is the civil engineer for the project, while the Willis Group will provide risk management services. Gables Residential, a division of ING Financial Services, will provide operations and leasing services.
Photo credits: WholeLife Cos.Tags: Acquisitions/Dispositions, Brokers, Cibolo Canyons, Developers, Development, economy, Finance/Investment, Forestar Group, Local, luxury, multi-family, National, Regional, residential real estate, San Antonio, San Antonio Lead Story, Senior, WholeLife Companies, WholeLife Traditions