Watercrest JV Wraps Up Virginia Luxury Senior Community
It's the firm's second such property in the state.
Watercrest Senior Living Group and Harbert Seniors Housing Fund II LP have completed construction work at Watercrest Fredericksburg Assisted Living and Memory Care, a 142-unit, luxury senior community in Fredericksburg, Va. The property will open for residents next month.
Centric Development broke ground on Watercrest Fredericksburg in 2024. Project partners also included DKLEVY as architect and 828id as interior designer.
Located at 4525 Spotsylvania Parkway, the pet-friendly community comprises 106 assisted living and 36 memory care apartments across a three-story building. The unit mix features studio, one- and two-bedroom floorplans ranging from 314 to 1,306 square feet.
All units have kitchenettes, walk-in closets, spa showers and washers/dryers. Common-area amenities feature a community center, theater, library, billiard lounge and art studio, as well as two courtyards.
The property is adjacent to Spotsylvania Regional Medical Center and the Cosner’s Corner shopping mall, just east of Interstate 95. Downtown Fredericksburg is some 7 miles away.
This is Watercrest’s second Virginia senior community. In 2021, the firm joined forces with Harbert Seniors Housing Fund II to develop the 98-unit Watercrest Richmond. This property came online a year later.
