Nexus Secures $180M Construction Loan for Dallas Luxury Senior Project
The community will include a mix of health and wellness-focused amenities.
California-based Nexus Cos. is making its first foray into the North Texas market with plans to develop a 20-story, 193- unit luxury senior living community in Dallas’ Turtle Creek neighborhood. The developer has secured a $180 million construction loan from Dallas-based Beal Bank and raised equity from investors for the project, which is slated for a late 2027 completion.
Construction has already begun on the 1.37-acre site at 2505 Turtle Creek Blvd. Dallas-based HKS Inc. is the architect and Andres Construction is serving as the general contractor.
Nexus is designing the property to feel like private condo-style residences for seniors with amenities and activities, while also offering personalized medical support and assistance. Vivante Turtle Creek will have 164 independent living and assisted living residences, 12 penthouses spanning up to 3,000 square feet and 29 memory care units with 42 beds. The property will include two levels of underground parking.
The real estate development firm built three luxury senior living communities in Newport Beach and Costa Mesa, Calif., all of which have similar services and amenities to what it’s planning for Dallas. Vivante Newport Center in Newport Beach has 99 units and opened in the fall of 2022. Nexus had previously completed Vivante on the Coast, with 185 units and Vivante North, a 111-unit community located on the same Costa Mesa campus.
Amenity offerings
The Turtle Creek community will feature Vivante’s Vitality Program, which will offer age-appropriate health and wellness programming including a wellness center offered alongside a local medical provider with an on-site doctor’s office in addition to a physical and occupational therapy clinic.
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Other amenities include an indoor saline pool and jacuzzi, sports lounge, golf simulator, library, 4K movie theater, beauty salon, art studio, fitness center, yoga, Pilates studio and a large pavilion for special events. Residents will also have access to chauffeured Mercedes Benz transportation. The property will also have a family party room with a bowling alley, arcade, photo booth and dining area.
Vivante is located near the Katy Trail and overlooks the Turtle Creek greenbelt with views of downtown Dallas. It will also be situated near the Park Cities, which includes upscale neighborhoods like Highland Park, Preston Center and University Park.
Turtle creek activity
The Turtle Creek neighborhood has seen several high-profile multifamily transactions in recent years. In February, Knightvest Capital expanded its Dallas holdings with the acquisition of SKYE of Turtle Creek, a 331-unit community that was rebranded as Remi. Knightvest, which acquired the asset through its Fund II, plans renovations to the property completed in 1998. It has one-, two- and three-bedroom residences and is one of the few with direct access to the Katy Trail.
Goldrich Kest acquired NOVEL Turtle Creek, a 206-unit luxury multifamily property in Dallas from Crescent Communities in December 2023. The asset was completed in May 2021 and has apartments with one-, two- and three-bedroom floorplans.
