Resort-Style Senior Housing Underway in Southwest Florida
Quadrum Global's $95 million community is set for completion in the fall of 2018 and includes independent living, assisted living and memory care units.
By Veronica Grecu
Fort Myers, Fla.—International developer and investment firm Quadrum Global and development partner DeAngelis Diamond of Naples recently celebrated the official start of construction on a new senior housing community in Southwest Florida, one of the nation’s fastest-growing retirement destinations.
Called Avida, the $95 million project is located at 7650 Gladiolus Drive close to Lakes Regional Park in South Fort Myers, Fla., on a 32-acre site that Quadrum acquired in July 2015. The acquisition marked Quadrum’s entrance into the growing senior housing market, paving the way for the company’s new senior living brand that combines boutique hospitality and multifamily investment background to create a unique, resort-style living product for seniors.
“As demand continues to grow faster than supply over the next decade, we expect senior living communities to be among Quadrum’s core focuses in the United States. Avida will be our first opportunity to bring to life an experience that stands apart from the impersonal offerings that are so common in the industry,” said Seth Schumer, Quadrum’s director of U.S. investments, in prepared remarks.
When completed in the fall of 2018, the 488,265-square-foot community will offer 125 assisted living apartments, 35 memory care apartments and272 independent living apartments, as well as 28 cottage-style residences. Avida will also feature a bar, private theater, media room, dining hall, swimming pool and spa, four open-air courtyards and a surface parking garage with 590 spaces.
True to its commitment to stimulate the local and regional economy, Quandrum has selected various local companies for this development project: architecture company Studio+, engineering firms Banks Engineering, Waldrop Engineering, Select Structural and JALRW Engineering Group, interior design firm StudioSIX5 and local law firm Henderson Franklin are all part of the development team behind Avida.
Quadrum Global created a separate entity, Quadrum Senior Living Management, to manage the community’s construction and operations. The new entity is led by Colin Marshall, a senior living veteran with more than 20 years of management experience varying from on-the-ground property-level management to portfolio-level oversight.
