VENICE — Construction on a luxury senior living community in south Sarasota County recently began.
The announcement came from national developer, Ryan Cos. US Inc. and Grand Living Management along with the financial closing. The community will be located within Wellen Park, which is a master-planned community located along U.S. 41 in south Sarasota County. The project is expected to bring nearly 200 apartments to the area.
“We have been very mindful to select partners like Ryan Companies that can layer in the appropriate diversification of residential lifestyles with the level of quality people have to come to expect at Wellen Park,” says Rick Severance, president of Wellen Park, in a press release. “The addition of a luxury senior living community provides options for both Wellen Park residents who want to age in place and their senior loved ones.”
The project start comes after a recent study was conducted by Moore Diversified Services Inc. The study predicts the 75+ community in Venice will increase by 36% in the next four years.
The four-story building will support this age-in-place model to allow residents to remain in their original apartment even as their healthcare needs change. The building will include 156 independent and assisted living units, and 36 memory care units.
The project is expected to be completed in March 2023. Grand Living Management will handle the day-to-day operations and Ryan Cos. will provide asset management services, the release states. The developer has completed 50 senior living communities across the country and has delivered over 500 units in Florida. This project will be its fourth in the state.
The community will feature multiple dining venues, a library, wellness/telehealth center, club room, activity room and a large gathering space for community events and spiritual services.
“We are proud to be a part of the Wellen Park neighborhood and look forward to showing our future residents First Class Happiness,” says Dan Peterka, Grand Living’s president and CEO, “showcasing our extraordinary environment and remarkable programs and services.”