SRP Medical and Frontier Management Announce New Assisted-Living Facility
- Oct 23, 2012
Fort Worth, Texas—SRP Medical and Frontier Management have unveiled plans for a new seniors housing property in the southwest part of Fort Worth, Texas. The facility will include 105 residences with assisted living and memory-care services.
SRP expects to break ground on the property by the end of this year, with completion slated for January 2014. The as-yet unnamed facility will be the company’s second assisted-living development this year, and its first in the Fort Worth market.
The new Fort Worth property comes after SRP and Frontier’s recent groundbreaking for Magnolia Heights, an 85,000-square-foot assisted living facility with 60 apartments and 48 memory-care apartments in the Houston suburb of Spring, Texas. That facility is scheduled to open in the second quarter of 2013.
SRP is also developing medical office buildings, such as the Methodist Addison for Surgery Pavilion in Addison, Texas, which will be adjacent to the Methodist Hospital for Surgery. In 2011, the company completed Forest Park Medical Center Phase 3, which included a specialty hospital and a 140,000-square-foot medical office building.
SRP Medical is formerly part of the Staubach Co., and these days is a real estate company specializing in healthcare and senior care projects in Texas and the southern United States. Frontier Management manages over 50 seniors housing properties in nine states.