Imprint Delivers San Antonio Senior Housing Community

The property is part of the firm's Larkspur line of upscale active adult properties.

Larkspur at Creekside. Image courtesy of Greystar

Larkspur at Creekside. Image courtesy of Greystar

Imprint Property Group has finished construction of Larkspur at Creekside, a 184-unit, luxury 55-plus active adult senior housing development located at 2828 Sophie Lane in New Braunfels, Texas. The property is part of Imprint’s Larkspur line of upscale active adult communities. The firm has tapped Greystar for property management services, and the community is now open to leasing.

Construction was overseen by Drever Capital Management and is subject to a $24.8 million loan from Zions Bank, according to CommercialEdge information. The community offers a mix of one- and two-bedroom apartments alongside two-bedroom private cottages, with monthly rents ranging between $1,600 and $3,206. The apartments feature open floor plans, stainless steel appliances and kitchen islands with quartz countertops, with the cottages offering private patios and attached garages. Communitywide, residents have access to a swimming pool; a fitness center with group exercise classes; landscaped outdoor courtyards with sports courts; and a kitchen, lounge and coffee bar. Situated adjacent to New Braunfels’ Creekside Crossing main road, the property is within walking distance of numerous retail, dining and entertainment offerings, with access to central New Braunfels, 4 miles away.

Senior housing in the Lone Star State

The senior housing market across the Lone Star State continues to post strong numbers, despite a slowdown in its stock of new supply and a sales volume that lags pre-pandemic highs. According to data from a second-quarter 2022 report from Colliers, the state’s occupancy rate has risen year-over-year to 80.6 percent, with a net absorption of 1,256 units. Conversely, from the fourth quarter of 2021 to the second quarter of 2022, the state’s inventory had increased by just 102 units, with a further 5,565 in its pipeline, a 9-basis-point decrease from the same interval the previous year. One recent high-profile senior living project is MedCore Partners’ joint development venture with ACRON USA for the second phase of Spring Cypress Senior Living, which will lead to the construction of 138 active adult and independent living units.

On a larger scale, Dallas and Houston rank among the top five markets in the nation for multifamily deliveries, with 9,828 and 8,038 units delivered, respectively.

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