SACHSE - Addison-based Seneca Investments has joined Wichita, Kan.-based Oxford Senior Living to develop, build and manage senior housing projects in major Texas markets.
The joint venture's initial project, a 36-unit Oxford Glen Memory Care facility at 4546 Bunker Hill Rd., is slated to open in December. The two-phase project will ultimately include 72 units. The estimated construction cost for the first phase is $5.5 million, according to an Oxford spokesperson.
Seneca and Oxford plan to build nine to ten senior care projects in the next three to four years in North Texas. The sites of the senior care communities have yet to be selected.
Our twice-weekly e-newsletter provides a quick overview of Texas real estate markets. Because your time is valuable.