Watercrest JV Unveils FL Luxury Senior Project
The 128-unit community in Naples will break ground in November and is slated for completion in early 2019. This marks United Properties’ first senior housing project in the state.
By Ariela Moraru
Watercrest Senior Living Group and United Properties have formed a partnership to develop and own a 128-unit luxury senior living community in Naples, Fla. United Properties purchased the site in 2016 and the partnership plans to break ground on the project in November 2017. Designed by D2 Architecture and Nashville, Tenn.-based IDA, the development is expected to welcome its first residents in early 2019.
Located on Bellaire Bay Drive, Watercrest Naples will feature 96 assisted living and 32 memory care apartments. Property amenities will include a fireplace, water wall, multiple dining options, pool, salon and spa, and outdoor living spaces. The asset is less than four miles from Interstate 75 and close to several golf clubs, including Bonita Bay Club East.
First foray in Florida
Watercrest has multiple senior living projects in development across the southeast and opened another senior community in Florida in the past year called Watercrest of San Jose Assisted Living and Memory Care, a 90-unit property in Jacksonville. This will be United Properties’ first senior housing project in Florida. The company has developed 15 senior housing communities in the Minneapolis-St. Paul and Denver markets, with seven more under construction.
Images courtesy of Watercrest Senior Living Group