$105 Million Atria at Villages of Windsor Senior Living Rental Community Readies to Welcome First Residents
LAKE WORTH, Fla. – The latest in a new generation of senior living communities is set to welcome its first residents with the first phase of the $105 million Atria at Villages of Windsor bringing the area a new upscale senior living rental option and a full array of amenities and activities typically reserved for a five-star resort.
With finishing touches underway throughout the high-profile, 22.5-acre site at Hypoluxo and Lyons Roads, the first wave of residents will occupy a portion of the community’s 179 independent living apartments, and its memory care building with private gardens is slated to begin moving in residents in early December. Before year-end, the final phase, which includes Atria at Villages of Windsor’s 80 assisted living residences and the balance of the independent living apartments, is expected to open with a wide variety of activities, entertainment and classes.
Knowing that flexibility is key for seniors and their families, Atria at Villages of Windsor is a rental community offering fully customizable lease terms, rather than a traditional continuing care retirement community (CCRC). As a rental, Atria at Villages of Windsor does not require “buy-in” payments, which can run as high as $700,000 at some of the region’s CCRCs.
“The enthusiastic response we’ve received demonstrates that savvy South Florida consumers are ready to move beyond outdated ideas about senior living,” said Richard Ackerman, senior managing principal of owner/developer Big Rock Partners. “As a luxurious new rental choice in the heart of the Lake Worth area’s gated country club communities, we’re enabling seniors to maintain the lifestyle and relationships they value, along with flexibility and financial liquidity.”
With its Welcome Center now open daily and spacious new one- and two-bedroom models on view, Atria at Villages of Windsor reflects the style and personalized service reminiscent of Florida’s “grand resorts,” such as The Breakers and The Biltmore, Ackerman explained. His national real estate development and management firm chose industry leader Atria Senior Living to market and operate its new community. Investors in the community are RD Management LLC, Ventas, and TownshipCapital.
"As demand becomes higher for senior living and retirement communities in the United States, especially with Florida's older population continuing to rise, timing couldn't be more perfect for us to expand our portfolio to include senior housing," said Richard Birdoff, principal and president of RD Management, one of the nation’s largest privately held real-estate development and management organizations. "We are proud to partner with Big Rock Partners on this project and are elated with the finished product at Villages of Windsor."
“The trade-offs and major lifestyle changes affluent consumers accepted for so long in senior living environments are thankfully becoming history,” said Ackerman, whose vision for a next generation of senior living builds on his 30 years of commercial real estate experience involving $3 billion in assets. “Today they expect to enjoy residences with spacious floor plans and first-class amenities, in a community with plenty of opportunities to grow and thrive.”
“Atria at Villages of Windsor is unique in this area in offering such luxury without a buy-in fee or long-term lease,” said Atria Senior Living’s Michael Brown, executive director of the new community. “Many residents moving to Atria at Villages of Windsor from nearby gated communities tell us they’re delighted they’ll maintain their current lifestyle and have their needs catered to, in larger apartments than are typically available -- all within their current neighborhood. They’ll be close to their friends, clubs, shopping and physicians, in a community dedicated to helping them stay engaged, active and growing.”
Atria at Villages of Windsor is designed to support an active, engaged lifestyle in a gracious environment that will include a full-time concierge and chauffeured car service. Nationally recognized for its innovative, gourmet cuisine, Atria will offer three dining options, including two fine-dining restaurants plus a casual bistro within the community. Amenities will include Wi-Fi throughout the community, a state-of-the-art cinema with surround sound and plush stadium seating, premier 24/7 fitness center, a performance center, zero-edge resort-style pool, salon, game rooms, a multi-purpose space and a pet-friendly environment.
Assistance and care will be discreetly provided as needed at Atria at Villages of Windsor, and Bethesda Hospital West is just a few blocks away.
In addition to Atria, Big Rock Partners’ best-in-class team includes global architectural firm Gensler, which is at the forefront of hospitality and healthcare design worldwide, and award-winning construction manager Moss & Associates.
Big Rock Partners and RD Management are working together to develop a luxurious $83 million senior living rental community in Celebration, Fla., near Orlando, scheduled to open in 2018.
Find Atria at Villages of Windsor on Facebook at https://www.facebook.com/AtriaVillagesOfWindsor/
About Atria Senior Living
Atria Senior Living is a leading operator of independent living, supportive living, assisted living and memory care communities, creating residences of choice for more than 21,000 seniors and the workplace of choice for more than 14,600 employees. Atria Senior Living creates vibrant communities where older adults can thrive and participate, know that their contributions are valued and enjoy access to opportunities and support that help them keep making a difference in our world.
About Big Rock Partners
Big Rock Partners, based in Beverly Hills, California and Delray Beach, Florida, is a private real estate investment management firm with a diversified portfolio including premier, institutional-quality assets in the senior housing market. The firm is led by Senior Managing Principal Richard Ackerman. Big Rock Partners principals’ experience includes roles as senior executives of public REITS, investment management firms and private real estate firms.
About RD Management
Consistently ranked among the nation’s largest, privately held real-estate development and management organizations, RD Management owns and operates a portfolio of 150+ assets throughout the United States and Puerto Rico, with properties spanning the mixed-use, retail, office, residential, hospitality, self-storage, senior/student housing, industrial, and government sectors. RD Management specializes in development, redevelopment, and acquisitions in key markets and maintains in-house expertise in leasing, property management, construction, accounting and finance, legal, and information technology services. With more than 40 years of experience, RD Management has a proven track record of enhancing the value of its properties through hands-on management, renovation, and expansion. For more information visit www.rdmanagement.com.