Harrison Street JV Breaks Ground on California Senior Community
- Aug 10, 2021
Harrison Street Real Estate Capital has teamed up with Oppidan to develop The Hacienda Mission San Luis Rey, a 213-unit senior living community in Oceanside, Calif. A groundbreaking ceremony is scheduled for Aug. 11.
The Hacienda Mission San Luis Rey is expected to come online in 2023. Once completed, Watermark Retirement Communities will handle operations at the property.
Douglas Pancake Architects is heading design, while Latitude 33 will serve as civil engineer and W.E. O’Neil as general contractor.
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The three-story Hacienda Mission San Luis Rey will rise at 4050 Mission Ave. on 8 acres. The roughly 250,000-square-foot senior living community is set to provide 103 independent living, 80 assisted living as well as 24 memory care units.
Plans for the luxury property call for a chapel, various dining venues, a fitness center, a spa and wellness center, a salon, a heated outdoor swimming pool, a piano bar as well as a taboon wood fired oven and bar.
The pet-friendly Hacienda Mission San Luis Rey is slated to include a dog park and recreational options such as a library, a theater, a virtual reality lounge and pickleball courts.
The property will be within 2 miles of the Old Grove Road retail corridor, with Freeway 76 easily accessible. Central San Diego is some 40 miles south.
A link to the past
The property will take shape on the 35-acre campus of the Mission San Luis Rey de Francia. As part of the agreement between the developers and the Mission, friars will have the possibility to live in The Hacienda Mission San Luis Rey, with six units reserved for them. The Luiseño people helped build the Mission founded in 1798, which was inhabited by Franciscan friars as well as Native Americans.
The property is the second senior housing project for Oppidan and Watermark. Their first community, the 173-unit The Watermark at Napa Valley in Napa, Calif., opened last fall. In July, Watermark partnered with The St. Joe Co. and BRW Origins LLC to bring 148 units of senior housing to Walton County, Fla.
With approximately $36 billion in assets under management since its inception in 2005, Harrison Street has a significant portfolio, with senior housing among other niches. In June, the firm secured $250.4 million for the purchase of a 1,118-unit senior housing portfolio.