Nexus Development Corporation Secures $180 Million Loan for Senior Living Project

News Summary

Nexus Development Corporation has secured a $180 million construction loan from Beal Bank to develop Vivante Turtle Creek, a luxury senior living community in Dallas. The 20-story project will feature 193 residential units, including independent, assisted living, and memory care options. Set to complete by the end of 2027, it aims to redefine luxury senior living with top-notch amenities and a focus on personalized care.

Nexus Development Corporation Secures $180 Million Loan for Luxury Senior Living Project Near Dallas’ Turtle Creek

Nexus Development Corporation, based in California, is entering the North Texas market by embarking on an ambitious project in Dallas’ vibrant Turtle Creek neighborhood. The company has secured a substantial $180 million construction loan from Beal Bank, a Dallas-based financial institution, to develop a luxurious senior living community named Vivante Turtle Creek.

The project is set to stand tall at 20 stories and will offer 193 residential units designed to provide a comfortable and upscale living environment for seniors. With construction already underway, Nexus aims to complete the project by the end of 2027. The development site occupies a prime location at 2505 Turtle Creek Blvd, overlooking the picturesque Turtle Creek greenbelt and in proximity to affluent neighborhoods such as Highland Park, Preston Center, and University Park.

Residential Offerings and Amenities

Vivante Turtle Creek will feature a mix of 164 independent and assisted living residences, alongside 12 luxurious penthouses that are spacious enough to reach 3,000 square feet. In addition, the community will accommodate 29 memory care units with a total of 42 beds, ensuring a comprehensive range of living options for its residents.

The development’s architectural design is being handled by HKS Inc., which aims to replicate the feel of private condo-style residences tailored for seniors. This approach includes provisions for personalized medical support and assistance, catering to the diverse needs of its residents. The community will incorporate the Vitality Program, which focuses on age-appropriate health and wellness programming, promoting an active and engaging lifestyle.

A wide array of amenities will be available, enhancing the living experience for residents. These include a modern wellness center, an on-site doctor’s office provided by a local medical provider, and a physical and occupational therapy clinic. Leisure and recreational offerings abound, with features such as an indoor saline pool and jacuzzi, a sports lounge, a golf simulator, a library, a 4K movie theater, beauty salon, and an art studio. For those interested in fitness, there will be a well-equipped fitness center and dedicated spaces for yoga and Pilates.

Unique Features for Enhanced Living

A standout feature of Vivante Turtle Creek is the chauffeur-driven Mercedes Benz transportation service available for residents, offering convenience and luxury at their fingertips. A family party room is also planned, which will feature a bowling alley, arcade, photo booth, and dining area, making it an ideal space for social gatherings and celebrations.

Market Context and Background of Nexus

The Turtle Creek area has seen a surge in multifamily real estate transactions, signifying a growing demand that aligns perfectly with Nexus’s timing to enter the market. The current financing and construction landscape is competitive, yet it presents an optimistic outlook for developers willing to take the plunge into the North Texas market.

Nexus has a history of successful projects, with similar luxury senior living communities launched in Newport Beach and Costa Mesa, California. Each of these previous developments has been well-received, setting a strong precedent for the upcoming Vivante Turtle Creek.

The ambitious Vivante Turtle Creek project aims to redefine luxury senior living in Dallas, offering not just residences but a vibrant community filled with amenities and personalized care to enhance the quality of life for its residents.

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Additional Resources

• MultiHousing News: Nexus Development Corporation Secures $180 Million Loan
• Senior Housing News: Senior Living Industry Hopes for Development Uptick
• Candy’s Dirt: New $96.7M Senior Housing Community Breaks Ground
• Google Search: Senior Housing
• WFAA: Resource Center LGBTQIA Senior Living Facility
• Wikipedia: Senior Living