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SantaFe Senior Living buys Bonita Springs land
BUYER: Bonita Springs Retirement Village Inc. (principals: Michael Gallagher, Stephen Demontmollin, Catherine Ayers, Troy Hart and Randall Stuart), Gainesville
SELLER: Geraldine and Joseph Nicola
PROPERTY: 26401 S. Tamiami Trail, Bonita Springs
PRICE: $7 million
PREVIOUS PRICE: $158,000, July 1977
LAW FIRM ON DEED: Knott Consoer Ebelini Hart & Swett PA, Fort Myers
PLANS, DESCRIPTION: Bonita Springs Retirement Village Inc., a limited liability company of SantaFe Senior Living, purchased 20 acres that includes Nicola's Liquors on Tamiami Trail near Highland Woods Golf and Country Club for $7 million.
The new ownership plans to eventually demolish the site to develop the senior-living community called The Terraces at Bonita Springs. The community will feature 150 apartment units, including 48 assisted living, 40 skilled nursing and 18 private memory-support rooms. The development will also feature dining facilities, a sky lounge, performance center auditorium, creative arts studio, spa and fitness center.
“The whole Bonita Springs/Naples area is great,” says Troy Hart, president of SantaFe Senior Living. “We've been working on getting in there since 2007... looking for the right piece of ground. That area is well populated with seniors. This was one of the largest available parcels, and it was in a good location right off Tamiami Trail.”
Before construction can start the developer needs to complete all its building approvals, surpass a set level of entrance fees sold and create a gopher tortoise preserve on the property. At this point, construction is expected to start in 2011 for completion in 2012.
SantaFe Senior Living is working with the Bovis Lend Lease's office in Tampa on the land entitlements. Holes Montes Inc. is the civil engineering firm for the project, and AG Architecture of Wauwatosa, Wis., is handling the architectural design.
The project is valued at $150 million.
SantaFe Senior Living's other existing properties in Florida include The Village in Gainesville, Bayview Gardens in Clearwater and East Ridge in Cutler Bay. SantaFe Senior Living is a sister company of AvMed Health Plans, one of Florida's largest and oldest not-for-profit health plans.
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