While you don't see shovels in the ground YET, know that there is plenty going on in regards to our redevelopment and master plan process.
I am sure you have noticed there has been plenty of activities—events, tours and meetings between our Marketing team, led by Rod Bailey, and our BeVIP members interested in the Patio Homes.
At the time of this writing, the team has pre-sold 18 of the 34 planned Patio Homes.
For tax-exempt bond financing, we must prove that there is interest in the project and must pre-sell 70 percent prior to moving forward with the financing. With that said, you can see we are very close to the needed number of 24 pre-sold and expect to reach that milestone by the first of June. Should the timeline hold true—we will move forward with financing the Patio Home project in August and begin to “dig and build” by mid-september!
The Patio Home project is just Phase One of a multi-phased masterplan to expand and reposition our community over the next several years.
The smaller Patio Home project helps us meet consumer demand for the very popular living accommodation as well as significantly strengthen the campus financially as we continue developing the full master plan.
Our design team, made up of executive team members and key staff from our architectural team, Orcutt|Winslow; our contractors, The Weitz Company; our Financial Feasibility Analysts, Sawgrass Partners, and our Marketing consultant, Wynne Angell, have been working through a variety of scenarios trying to find the right plan that has the smallest resident impact during the construction phase that also sets the campus up for success of serving our Mission for the next 50 years. I am also working closely with our Board of Directors to ensure they are up-to-date on the various plans and today's best practices in the field of aging services.
This is an exciting time for our community! Thank you for your patience and support as we work through this important process.
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