$ 180M Seniors’ Residence Project Planned on Kiawah Island near Charleston | Immovable
A $ 180 million senior living development is coming to Kiawah Island, and as the cost and location suggest, it will be upscale in nature.
The newly formed Kiawah Village Life Plan Inc. recently purchased 9 acres next to Freshfields Village Shopping Center of Kiawah Partners develop Sea fields at Kiawah Island.
The new luxury community of over 62 people at 200 Farm Lake Road faces Seabrook Island Road and will offer 98 one- to three-bedroom independent residences and 16 assisted living and continuing care units. Self-catering units range from 903 square feet to 2,856 square feet.
Seafields residents will have the option of purchasing contracts with either 90% or 0% return on equity. Entrance fees for the units range from $ 435,000 to around $ 3 million.
The project is expected to begin in early fall and be completed by fall 2023.
The development aims to help meet the demand of the country’s aging population and meet the demands of Kiawah and Seabrook owners who wish to age in place.
Based in Beverly Hills, California Big Rock Partners will develop the property. It will include an internal medical clinic operated by the Medical University of South Carolina.
Kiawah Island Real Estate will manage sales and marketing for Seafields. Reservations are already taken.
“Over the next five years, it is expected that there will be around 31,000 additional residents over the age of 65 in the Sea Islands region,” said Richard ackerman, managing partner of Big Rock Partners.
In the fall of 2023, the Sea Islands Autonomous Emergency Service, the result of a company of more than 5 years between Kiawah Partners and MUSC Health, will open within walking distance of Seafields.
It will provide 24-hour vital care in its emergency department with trauma rooms, an on-site laboratory, four examination rooms, imaging technology and a helipad for faster transfers. Primary and specialized care will also be offered to residents seeking more convenient alternatives to their current providers.
A new subdivision is sprouting up on Jedburg Road near Summerville.
Mungo Houses expands Petterson Prairies, a development with over 170 one and two story homes about a mile north of Interstate 26 between Nexton and the Volvo car Campus.
With prices starting in the low end of $ 300,000, homes will measure between 1,700 and 3,000 square feet. They will come in 10 floor plans with three to six bedrooms and two to four bathrooms. Some models have a master bedroom on the first floor.
Most plans include a designated home office, flex or bonus room, or extra bedroom. The latest features and designs from the natural gas community also include a full package of energy efficiency.
Future developments planned include hiking and biking trails, a three-acre park, a playground, activity grounds, an oyster shed and a fire pit.
Carolina One New homes markets Petterson Meadows.
Based on Mount Pleasant Ziff Real Estate Partners recently acquired Fishermen crossing, a 29,569 square foot retail mall in what he described as an affluent Indianapolis suburb of Fishers.
The purchase price was not disclosed.
The property was 100 percent occupied at the time of purchase. It is the shadow anchored by a recently refurbished Kroger supermarket and is home to national tenants such as Pet Supplies More, Great clips and Dad johns.
This is Ziff’s second recent acquisition near Indianapolis. In mid-August, the company acquired a 215,100 square foot industrial property called Directors line. The main tenants include Fiserv, Rocore Thermal Systems and Evening time.
To reach Warren L. Sage at 843-819-9269. Follow him on Twitter @warrenlancewise.