Amish Gupta Announces Seniors Community
- Jun 18, 2014
Dallas—A new 120,000-square-foot seniors community is on the drawing boards for a 4.5–acre site near Texas State Highway 121 and Creek Valley Blvd. in Carrollton, Texas. Dallas-based developer Amish Gupta (AG) Ventures has announced. The development will consist of two separate wings and provide 135 residential units, 35 of which will be earmarked for memory care.
“We noticed a pocket of unmet demand that was substantiated by a third-party market study,” AG Ventures president and founder of Amish Gupta tells MHN. “Additionally, development and demand has continued to increase along the 121 corridor, making the long-term viability of the development stronger.”
The facility will be designed to provide a residential look and feel, in an effort to blend in with the single-family neighborhood that surrounds the site.
In addition, the entry feature/signage will welcome residents and visitors to the neighborhood, thereby maintaining the natural community feel of the area. The curb appeal will be enhanced by means of landscaping, which will serve the additional function of providing sound and visual buffers.
“The pace of the lease-up is always one of the biggest challenges,” Gupta reports. “We will overcome this by offering a variety of options for potential residents, such as assisted, independent and memory care, so they can pick and choose based on their needs. Additionally, our outreach to potential residents will be aggressive and we will leverage our visibility on the highway to ensure they know where we are.”
The land was originally purchased in 2006, before the Texas State Highway 121 construction was completed, and was zoned for retail. “Over time, we realized that retail would not be the best use, and after extensive market research we found an unmet demand for senior living facilities,” Gupta reports. “The location on the service road gives us great visibility and is easily accessible from the highways, which we believe will extend our demand radius further than normal, encompassing the neighboring Carrollton, Lewisville, Plano and Frisco communities.”
The first wing of the seniors housing facility will be three stories tall and will include 100 units, including assisted-living residences and possibly independent living units. AG Ventures plans to begin pre-leasing in the autumn of next year, with first move-ins taking place in the early spring of 2016.